Business
Trinity Bank Reports Second Quarter Earnings Up 17.7% to $1.73 Per Diluted Share Return on Assets 1.79% And Return on Equity 15.96%
Trinity Bank Reports Second Quarter Earnings Up 17.7% to $1.73 Per Diluted Share Return on Assets 1.79% And Return on Equity 15.96%.
About this update from Trinity Bank, N.a
[{"type":"text","content":"FORT WORTH, TX / ACCESSWIRE / July 31, 2023 / Trinity Bank N.A. (OTC PINK:TYBT) today announced operating results for the three months ending June 30, 2023 and YTD results for the six months ending June 30, 2023.Results of OperationsTrinity Bank, N.A. reported Net Income after Taxes of $1,973,000 or $1.73 per diluted common share for the first quarter of 2023, compared to $1,680,000 or $1.47 per diluted common share for the second quarter of 2022, an increase of 17.7%.For the first six months of 2023, Net Income after Taxes amounted to $3,911,000, an increase of 18.9% over the first half of 2022 results of $3,290,000. Earnings per diluted common share for the first half of 2023 were $3.43, an increase of 18.3% over the first half of 2022 results of $2.90 per diluted common shareMatt R. Opitz, CEO, stated, "I am pleased with the results of the second quarter. We experienced an increase in loan volume and deposits are steady (which in this environment is a plus). Our customers continue to report strong backlogs and a cautiously optimistic outlook for the remainder of the year.""Our capital, earnings and liquidity remain strong, keeping Trinity Bank positioned to take advantage of new opportunities for continued growth. During the second quarter, we capitalized on opportunities to establish several new relationships with quality prospects. We will remain focused on attracting new customers as we continue to see some banks in our market tighten lending and credit requirements as a result of the increased rate environment and lack of liquidity. Trinity was built for times like these."I am especially proud of our great staff who remains committed to providing exceptional customer experiences. They continue to demonstrate a willingness to go above and beyond for our customers which continues to be the main driver in producing these superior results." 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...