FORT WORTH, TX -- (Marketwire) -- 07/23/12 -- Trinity Bank N.A. (OTCBB: TYBT) today announced operating results for the second quarter and the six months ending June 30, 2012.
Results of Operations
For the second quarter of 2012, Trinity Bank, N.A. reported Net Income after Taxes of $644,000, an increase of 15.4% over second quarter 2011 earnings of $558,000. Earnings per diluted common share for the second quarter 2012 amounted to $.57, an increase of 16.3% over second quarter 2011 results of $.49 per diluted common share.
For the first six months of 2012, Net Income after Taxes was $1,265,000, an increase of 15.3% over the first half of 2011 results of $1,097,000. Earnings per diluted common share for the first half of 2012 were $1.12, an increase of 15.5% over the first half of 2011 results of $.97 per diluted common share.
Jeffrey M. Harp, President, stated, "2012's second quarter results maintained our record of improving performance each quarter. A 16% increase in average loans outstanding offset a continuing decline in the investment income from our securities portfolio.
"I am pleased to announce that at the end of June, Doug Dowd has joined the Trinity Bank staff as Vice-President of Commercial Lending. Doug comes to us from a local competitor. We look forward to his contribution to our operating results.
"Also, on July 11, 2012, Trinity Bank was notified that it has received a financial strength rating of A or Excellent from Weiss Ratings, the nation's lending independent provider of ratings and analyses of financial services companies. Fewer than 2% of the 19,000 institutions in the nation meet Weiss Ratings' criteria for exceptional financial strength."
TRINITY BANK 2012Actual for Quarter Ending 3 Months 3 Months(in 000's) 6-30-12 6-30-11 % --------- --------- -----Net Income $ 644 $ 558 15.4%Diluted Earnings per Share $ 0.57 $ 0.49 16.3%Diluted Weighted Average Shares 1,136 1,133Actual for Six Months Ending 6 Months 6 Months(in 000's) 6-30-12 6-30-11 % --------- --------- -----Net Income $ 1,265 $ 1,097 15.3%Diluted Earnings per Share $ 1.12 $ .97 15.5%Diluted Weighted Average Shares 1,125 1,131Return on Assets 1.54% 1.46%Return on Equity 13.59% 13.11%
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.
This 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-looking statements involve risks, uncertainties and assumptions, including, but not limited to, monetary policy and general economic conditions in Texas and the greater Dallas-Fort Worth metropolitan area, the risks of changes in interest rates on the level and composition of deposits, loan demand and the values of loan collateral, securities and interest rate protection agreements, the actions of competitors and customers, the success of the Bank in implementing its strategic plan, the failure of the assumptions underlying the reserves for loan losses and the estimations of values of collateral and various financial assets and liabilities, that the costs of technological changes are more difficult or expensive than anticipated, the effects of regulatory restrictions imposed on banks generally, any changes in fiscal, monetary or regulatory policies and other uncertainties as discussed in the Bank's Registration Statement on Form SB-1 filed with the Office of the Comptroller of the Currency. Should one or more of these risks or uncertainties materialize, or should these underlying assumptions prove incorrect, actual outcomes may vary materially from outcomes expected or anticipated by the Bank. A forward-looking statement may include a statement of the assumptions or bases underlying the forward-looking statement. The Bank believes it has chosen these assumptions or bases in good faith and that they are reasonable. However, the Bank cautions you that assumptions or bases almost always vary from actual results, and the differences between assumptions or bases and actual results can be material. The Bank undertakes no obligation to publicly update or otherwise revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless the securities laws require the Bank to do so.