Business
TOUCHMARK BANCSHARES, INC. REPORTS FIRST QUARTER RESULTS
Touchmark Bancshares, Inc. (OTC Pink: TMAK), the holding company for Touchmark National Bank, today reported financial results for the first quarter of 2025.
About this update from Touchmark Bancshares, Inc.
[{"type":"text","content":"ALPHARETTA, Ga., May 12, 2025 /PRNewswire/ -- Touchmark Bancshares, Inc. (OTC Pink: TMAK), the holding company for Touchmark National Bank, today reported financial results for the first quarter of 2025.","length":208,"tagName":"p"},{"type":"text","content":"Key highlights of Touchmark Bancshares' results for the first quarter of 2025 include:","length":90,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"The company hired Bobby Krimmel to succeed Dr. J.J. Shah as the President and CEO of Touchmark National Bank;","length":109,"tagName":"p"}]},{"val":[{"type":"text","content":"One new SBA Banker was added; and","length":33,"tagName":"p"}]},{"val":[{"type":"text","content":"New company strategy to grow local market customer relationships has been established.","length":86,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":228,"olType":false},{"type":"text","content":""Our first quarter results reflected the beginning of a transition period for Touchmark to grow its balance sheet with an emphasis on developing local banking relationships in our primary market," said Bobby Krimmel. "We have defined our primary market as 25 miles from our home office in Alpharetta and are actively pursuing local customer relationships with a healthy pipeline building for both loan and deposit opportunities."","length":455,"tagName":"p"},{"type":"text","content":""The reduction in net income during the first quarter of 2025 was driven by lower loan balances compared to the prior year. We hired two local bankers to help us grow our loan portfolio with one focused on SBA banking relationships and started during the first quarter of 2025 while the second banker was added in April 2025 with a focus on conventional lending opportunities. The company remains optimistic that our strategy to grow Touchmark with a relationship banking focus will deliver long-term, sustainable performance to our shareholders."","length":563,"tagName":"p"},{"type":"text","content":"First Quarter 2025 Results of Operations","length":40,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net income decreased 48.4% to $733,000 from $1.4 million for the first quarter of 2024;","length":87,"tagName":"p"}]},{"val":[{"type":"text","content":"Net interest income fell by 14.4% to $2...