Wed, 21 Aug 2019

Trinity Bank Reports Return on Assets of 1.91%

ACCESSWIRE
25 Apr 2019, 05:13 GMT+10

Return on Equity 13.90%
Tier 1 Leverage Ratio 13.70%

FORT WORTH, TX / ACCESSWIRE / April 24, 2019 / Trinity Bank N.A. (OTC PINK: TYBT) today announced operating results for the three months ending March 31, 2019.

Results of Operations

Trinity Bank, N.A. reported Net Income After Taxes of $1,202,000 or $1.08 per diluted common share for the first quarter of 2019, compared to $1,129,000 or $1.00 per diluted common share for the first quarter of 2018, an increase of 8.0%.

Jeffrey M. Harp, President, stated, 'First Quarter 2019 results were very good. Return on Assets of 1.91% reflects very favorably to the Peer Group average ROA of 1.19%, and Trinity Bank continues to operate with exceptional efficiency. The current economic environment is volatile (to say the least), but we look forward to meeting the challenge with the goal of producing exceptional results.'

Executive Vice President, Matt Opitz, stated, 'We are pleased to announce that Travis Smart has accepted an offer to join the Trinity Bank team as Vice President of commercial banking. Travis brings with him a proven ability to generate and maintain quality commercial banking relationships. With the addition of Travis, Trinity Bank, in the last 18 months, has gone from two lenders (Barney Wiley and Jeff Harp) to five. We are excited about what five revenue producers will mean for Trinity's goal to continue growing and expanding our customer base in the North Texas marketplace.'

Profitability

3/31/2019

3/31/2018

Return on Assets

1.91%

1.73%

Return on Equity

13.90%

14.34%

Average for Quarter Ending

3/31/2019

3/31/2018

%

(in 000's)

Loans

$152,227

$137,942

10.4

Deposits

$216,220

$228,828

(5.5)


Trinity Bank First Quarter 2019


Actual for Quarter Ending

(in 000's)

3/31/2019

3/31/2018

%

Net Interest Income

$2,420

$2,277

6.3

Non-Interest Income

123

129

(4.7)

Non-Interest Expense

(1,129)

(1,131)

(0.2)

Pretax Preprovision Income

$1,414

$1,275

10.9

Gain on Sale of Securities and Assets

(2)

0

N/M

Loan Loss Provision

(30)

0

N/M

Pre Tax Income

1,382

1,275

8.4

Income Tax

180

146

N/M

Net Income

$1,202

$1,129

6.5

Diluted Weighted Average Shares

1,118

1,125

.

Earnings per Share

$1.08

$1.00

8.0


Trinity Bank, N.A. is a commercial bank that began operations May 28, 2003. For a full financial statement, visit Trinity Bank's website: www.trinitybk.com Regulatory reporting format is also available at www.fdic.gov.

For information contact:

Richard Burt
Executive Vice President
Trinity Bank
817-763-9966

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.

TRINITY BANK N.A.
(Unaudited)
(Dollars in thousands, except per share data)


Quarter Ended
March 31
%
EARNINGS SUMMARY
2019
2018
Change
Interest income
$ 2,814 $ 2,486 13.2 %
Interest expense
394 209 88.5 %
Net Interest Income
2,420 2,277 6.3 %
Service charges on deposits
40 42 -4.8 %
Other income
83 87 -4.6 %
Total Non Interest Income
123 129 -4.7 %
Salaries and benefits expense
763 628 21.5 %
Occupancy and equipment expense
107 121 -11.6 %
Other expense
259 382 -32.2 %
Total Non Interest Expense
1,129 1,131 -0.2 %
Pretax pre-provision income
1,414 1,275 10.9 %
Gain on sale of securities
(2 ) 0 N/M
Gain on sale of foreclosed assets
0 0 N/M
Gain on sale of assets
0 0 N/M
Provision for Loan Losses
30 0 N/M
Earnings before income taxes
1,382 1,275 8.4 %
Provision for income taxes
180 146 N/M
Net Earnings
$ 1,202 $ 1,129 6.5 %
Basic earnings per share
1.09 1.02 6.9 %
Basic weighted average shares
1,099 1,106
outstanding
Diluted earnings per share - estimate
1.08 1.00 8.0 %
Diluted weighted average shares outstanding
1,118 1,125

Average for Quarter
March 31
%
BALANCE SHEET SUMMARY
2019
2018
Change
Total loans
$ 152,227 $ 137,942 10.4 %
Total short term investments
12,728 23,035 -44.7 %
Total investment securities
79,278 92,926 -14.7 %
Earning assets
244,233 253,903 -3.8 %
Total assets
251,901 260,399 -3.3 %
Noninterest bearing deposits
73,881 82,622 -10.6 %
Interest bearing deposits
142,339 146,206 -2.6 %
Total deposits
216,220 228,828 -5.5 %

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