FORT WORTH, TX — (Marketwired) — 10/24/13 — Trinity Bank, N.A. (OTCBB: TYBT) today announced operating results for the third quarter and the nine months ending September 30, 2013.
For the third quarter of 2013, Trinity Bank, N.A. reported Net Income after Taxes of $721,000, an increase of 10.8% over third quarter 2012 earnings of $651,000. Earnings per diluted common share for the third quarter 2013 amounted to $.63, an increase of 10.5% over third quarter 2012 results of $.57 per diluted common share.
For the first nine months of 2013, Net Income after Taxes was $2,105,000, an increase of 9.9% over the nine month 2012 results of $1,915,000. Earnings per diluted common share for the first nine months of 2013 were $1.84, an increase of 8.9% over 2012 nine months results of $1.69 per diluted common share.
Jeffrey M. Harp, President, stated, “Operating results for the quarter ending September 30, 2013 were good. Return on Assets — 1.61% — and Return on Equity — 14.04% — for this quarter represent new highs for Trinity Bank. The primary factors producing these returns are:
1) a 12.9% increase in average loans over 3rd Q 2012,
2) increase in Net Interest Margin – from 3.50% to 3.69%, and
3) excellent operating expense control – Efficiency Ratio of 37%.
“As previously announced, Trinity Bank will pay its fourth cash dividend on October 31st to shareholders of record as of October 15th. This dividend of $.28 per share represents a 12% increase over the $.25 dividend that was paid in April, 2013. The Board of Directors will continue to review dividend policy on a semi-annual basis.”
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