Business
Trinity Bank Reports: Return On Assets 1.54% Return on Equity 14.91%
Trinity Bank Reports: Return On Assets 1.54% Return on Equity 14.91%.
About this update from Trinity Bank, N.a
[{"type":"text","content":"FORT WORTH, TEXAS / ACCESSWIRE / August 1, 2022 / Trinity Bank N.A. (OTC PINK:TYBT) today announced operating results for the three months ending June 30, 2022 and YTD results for the six months ending June 30, 2022.Results of OperationsTrinity Bank, N.A. reported Net Income after Taxes of $1,680,000 or $1.47 per diluted common share for the first quarter of 2022, compared to $1,426,000 or $1.26 per diluted common share for the second quarter of 2021, an increase of 16.7%.For the first six months of 2022, Net Income after Taxes amounted to $3,290,000, an increase of 19.5% over the first half of 2021 results of $2,754,000. Earnings per diluted common share for the first half of 2022 were $2.90, an increase of 18.9% over the first half of 2021 results of $2.44 per diluted common shareJeffrey M. Harp, Chairman, stated, "We are pleased to announce that 2Q 2022 performance produced the best quarterly profit for Trinity Bank since inception in 2003. Loans and Deposits continue to grow. Return on Assets and Return on Equity remain well above both national and local peer groups. Our borrowers continue to perform well in an unsettled economic environment.""After many years of maintaining artificially low interest rates, the Federal Reserve has embarked on a program to rapidly raise interest rates to combat the inflation that we all see on a daily basis. We have had four prime rate increases in four months (from 3.25% to 5.50%). While this helps our interest income, we also must increase deposit rates in line with our philosophy to pay as much as we can instead of as little as we can get by with. For example, we are offering one-year CD's at a 2.40% rate - well above the local market.""In my 51 years in this business in this market, I can only say that we are in unprecedented times. Our goal remains to ADAPT, IMPROVISE, and OVERCOME. We strive to provide exceptional service to existing customers and attract new relationships with quality people. We intend to continue to maintain a strong capital base with above-average profitability and efficiency as we prepare for whatever the future holds." 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.Fo...