Business
Trinity Bank Reports 2021 3rd Quarter Net Income Of $1,476,000
Trinity Bank Reports 2021 3rd Quarter Net Income Of $1,476,000.
About this update from Trinity Bank, N.a
[{"type":"text","content":"3RD QUARTER RETURN ON ASSETS 1.49%3RD QUARTER RETURN ON EQUITY 14.15%FORT WORTH, TX / ACCESSWIRE / October 27 2021 / Trinity Bank N.A. (OTC PINK:TYBT) today announced operating results for the third quarter and the nine months ending September 30, 2021.Results of OperationFor the third quarter 2021, Trinity Bank, N.A. reported Net Income after Taxes of $1,476,000, an increase of 21.4% over third quarter 2020 earnings of $1,216,000. Earnings per diluted common share for the third quarter 2021 amounted to $1.30, an increase of 20.4% over third quarter 2020 results of $1.08 per diluted common share.For the first nine months of 2021, Net Income after Taxes was $4,230,000, an increase of 21.9% over the first nine months of 2020 results of $3,470,000. Earnings per diluted common share for the first nine months of 2021 were $3.75, an increase of 22.1% over the first nine months of 2020 results of $3.07 per diluted common share.Chairman Jeff Harp stated, "Trinity Bank and its customers have continued to make progress in 2021 in spite of price increases, supply chain issues, and political gridlock. We are cautiously optimistic that the headwinds from the pandemic are diminishing."President Barney C. Wiley reported, "We continue to see increased activity in the local economy and increased opportunity for organic growth - both from our existing customers as well as prospective customers. The artificial low interest rate environment is a hindrance, but Trinity continues to produce above-peer performance in terms of Return on Assets, Return on Equity, Efficiency, and Capital Strength. In addition, on October 29, Trinity will pay its 20th consecutive increased semiannual dividend. Total dividends for 2021 will be $1.42 representing an 8.4% increase over 2020 dividends of $1.31."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 BurtExecutive Vice PresidentTrinity Bank817-763-9966This 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-lo...