Business
Trinity Bank Reports Results for 2024 Net Income Up 5.5% to $8,458,000 Return on Assets 1.70%
Trinity Bank Reports Results for 2024 Net Income Up 5.5% to $8,458,000 Return on Assets 1.70%.
About this update from Trinity Bank, N.a
[{"type":"text","content":"FORT WORTH, TX / ACCESS Newswire / February 5, 2025 / Trinity Bank N.A. (OTC PINK:TYBT) today announced operating results for the fourth quarter and the twelve months ending December 31, 2024.Results of OperationFor the fourth quarter 2024, Trinity Bank, N.A. reported Net Income after Taxes of $2,178,000, an increase of 2.0% over fourth quarter 2023 earnings of $2,135,00. Earnings per diluted common share for the fourth quarter 2024 amounted to $1.92, an increase of 2.1% over fourth quarter 2023 results of $1.88 per diluted common share.For 2024, Net Income after Taxes was $8,458,000, an increase of 5.5% over 2023 results of $8,015,000. Earnings per diluted common share for 2024 were $7.48, an increase of 5.9% over 2023 results of $7.06 per diluted common share.Co-Chairman and CEO Matt R. Opitz stated, "We are pleased with both our fourth quarter and full year 2024 results. The fourth quarter was the most profitable quarter and 2024 was the most profitable year in history for Trinity Bank. We finished the year with strong growth in net income, loans and deposits.""We have seen significant improvements in loan demand since the election in November. Further, corporate confidence throughout the State of Texas continues to increase, post-election, which is very encouraging as we embark on the new year.""As we move into 2025, we remain focused on our commitment to remain true to the same sound banking principles and management practices that have made Trinity Bank successful over its 22-year history. We will also continue to invest in our people, facilities, technology and processes to ensure we have the proper infrastructure to remain positioned to take advantage of opportunities for continued growth not only in 2025 but for years to come.""As always, thank you to our dedicated staff. Without them and their commitment to remaining focused on providing exceptional customer experiences, results like these would not be achievable." Page 2 - Trinity Bank fourth quarter 2024 earnings Page 3 - Trinity Bank fourth quarter 2024 earningsTRINITY BANK N.A.(Unaudited)(Dollars in thousands, except per share data) Quarter Ended Twelve Months Ending December 31 % December 31 % EARNINGS SUMMARY 2024 2023 Change 2024 2023 Change Interest income $7,426 $6,818 8.9% $28,579 $24,060 18.8%Interest expense 2,681 2,7...