Business
Trinity Bank Reports 2021 4th Quarter Net Income of $1,592,000 and Full Year Net Income of $5,822,000
Trinity Bank Reports 2021 4th Quarter Net Income of $1,592,000 and Full Year Net Income of $5,822,000.
About this update from Trinity Bank, N.a
[{"type":"text","content":"YTD Return on Assets 1.47% YTD Return on Equity 14.25%FORT WORTH, TX / ACCESSWIRE / January 26, 2022 / Trinity Bank N.A. (OTC PINK:TYBT) today announced operating results for the fourth quarter and the twelve months ending December 31, 2021.Results of OperationFor the fourth quarter 2021, Trinity Bank, N.A. reported Net Income after Taxes of $1,592,000, an increase of 27.8% over fourth quarter 2020 earnings of $1,246,000. Earnings per diluted common share for the fourth quarter 2021 amounted to $1.41, which represents a 28.2% increase over fourth quarter 2020 results of $1.10 per diluted common share.For 2021, Net Income after Taxes was $5,822,000, an increase of 23.5% over 2020 results of $4,716,000. Earnings per diluted common share for 2021 were $5.15, an increase of 23.8% over 2020 results of $4.16 per diluted common share.Chief Executive Officer Matt R. Opitz stated, "2021 was a challenging but rewarding year. We continued to operate in and experience one of the lowest rate environments in history, rising inflation, supply chain issues and uncertainty out of our policy makers in Washington. However, despite these headwinds, Trinity Bank's fourth quarter and full year Net Income were the highest since inception, marking a new record best.""Furthermore, we were able to increase our Loan Loss Reserve (net of PPP loans) 22.6% to 1.79% as of 12/31/2021. While we have not seen any undue stress in the loan portfolio, we wanted to take the opportunity to increase the margin of safety during these uncertain times.""I am especially proud of our staff who has continued to adapt, improvise and overcome in order to provide Trinity Bank customers with exceptional service which continues to be the main driver of our performance.""As we look forward to 2022, the biggest uncertainty we face is the number and timing of the Fed's proposed rate hikes. We've not faced a rising rate environment since 2018. We regularly review the duration and pricing of our major earnings assets - loans, securities and overnight investments in an effort to effectively manage our interest rate risk and generate income no matter the level of interest rates.""I remain encouraged by the level of positive economic activity in the North Texas market. In the coming year, Trinity Bank will remain focused on establishing and e...