Trinity Bank Reports: 2016 First Quarter Net Income Up 7.4%; Dividend Increases 4.8%
(firmenpresse) - FORT WORTH, TX -- (Marketwired) -- 04/20/16 -- Trinity Bank N.A. (OTC: TYBT) today announced operating results for the three months ending March 31, 2016.
Trinity Bank, N.A. reported Net Income After Taxes of $952,000 or $.84 per diluted common share for the first quarter of 2016, compared to $886,000 or $.78 per diluted common share for the first quarter of 2015, an increase of 7.7%.
President Jeffrey M. Harp stated, "The 7.7% increase in Earnings Per Share is below our historical performance -- 10 to 15% increases. In 2015, we reached a plateau. We cannot keep increasing profits without adding new staff and expanding our bank facility. We have added staff in 2016 with more to come and we are about to begin an expansion and renovation of our facility. These actions may penalize results for this year and 2017, but they are necessary to produce long-term shareholder value.
"We continue to produce at a high level (Return on Assets of 1.73% and Return on Equity of 14.01%) in relation to all other banks. In spite of the necessary investments, we anticipate that we will maintain our streak since inception in 2003 of increasing Net Income each year over the previous year.
"As previously announced, Trinity Bank will distribute its ninth cash dividend on April 29, $.44 per share, an increase of 4.8% over the $.42 per share paid in October 2015."
Trinity Bank, N.A. is a commercial bank that began operations May 28, 2003. For a full financial statement, visit Trinity Bank's website: Regulatory reporting format is also available at .
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding future financial conditions, results of operations and the Bank's business operations. Such forward-looking statements involve risks, uncertainties and assumptions, including, but not limited to, monetary policy and general economic conditions in Texas and the greater Dallas-Fort Worth metropolitan area, the risks of changes in interest rates on the level and composition of deposits, loan demand and the values of loan collateral, securities and interest rate protection agreements, the actions of competitors and customers, the success of the Bank in implementing its strategic plan, the failure of the assumptions underlying the reserves for loan losses and the estimations of values of collateral and various financial assets and liabilities, that the costs of technological changes are more difficult or expensive than anticipated, the effects of regulatory restrictions imposed on banks generally, any changes in fiscal, monetary or regulatory policies and other uncertainties as discussed in the Bank's Registration Statement on Form SB-1 filed with the Office of the Comptroller of the Currency. Should one or more of these risks or uncertainties materialize, or should these underlying assumptions prove incorrect, actual outcomes may vary materially from outcomes expected or anticipated by the Bank. A forward-looking statement may include a statement of the assumptions or bases underlying the forward-looking statement. The Bank believes it has chosen these assumptions or bases in good faith and that they are reasonable. However, the Bank cautions you that assumptions or bases almost always vary from actual results, and the differences between assumptions or bases and actual results can be material. The Bank undertakes no obligation to publicly update or otherwise revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless the securities laws require the Bank to do so.
Richard Burt
Executive Vice President
Trinity Bank
817-763-9966
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 20.04.2016 - 21:57 Uhr
Sprache: Deutsch
News-ID 465431
Anzahl Zeichen: 0
contact information:
Town:
FORT WORTH, TX
Kategorie:
Retail Banking
Diese Pressemitteilung wurde bisher 297 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Trinity Bank Reports: 2016 First Quarter Net Income Up 7.4%; Dividend Increases 4.8%"
steht unter der journalistisch-redaktionellen Verantwortung von
Trinity Bank (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
