YTD Return on Assets 1.40%
YTD Return on Equity 12.69%
FORT WORTH, TX / ACCESSWIRE / January 27, 2021 / Trinity Bank N.A. (OTC PINK:TYBT) today announced operating results for the fourth quarter and the twelve months ending December 31, 2020.
Results of Operation
For the fourth quarter 2020, Trinity Bank, N.A. reported Net Income after Taxes of $1,246,000, an increase of 2.1% over fourth quarter 2019 earnings of $1,220,000. Earnings per diluted common share for the fourth quarter 2020 amounted to $1.10, level with fourth quarter 2019 results of $1.10 per diluted common share.
For 2020, Net Income after Taxes was $4,716,000, an increase of 16.6% over 2019 results of $4,043,000. Earnings per diluted common share for 2020 were $4.16, an increase of 14.6% over 2019 results of $3.63 per diluted common share.
Chairman Jeffrey M. Harp stated, "2020 was an eventful year! First and foremost, our thoughts go out to everyone that has been impacted personally or professionally by the pandemic. Let's all do our best to stay safe and healthy. Trinity Bank is adapting, improvising, and striving to overcome."
"In spite of the challenges, we have some positive news to report.
- 2020 Net Income was the highest since inception in 2003.
- We were active participants in the first round of SBA PPP loans - generating $51,382,000 in loans for our customers. We are participating in the second round and have generated $10,000,000 plus in the first week of submission. These loans are marginally profitable but they have provided support to our customer base.
- Excluding the PPP loans, we have seen excellent loan and deposit growth in the last half of 2020.
- To date, we have not experienced undue stress in our loan portfolio.
- We increased our Loan Loss Reserve 29% - $653,000 in 2020 - to increase the margin of safety, and we plan to continue building the Reserve in 2021."
In 000's | |||
Month end | Month end 12/31/2019 | ? | |
Loans (exc PPP) | $ 205,253 | $ 167,589 | 22.5 % |
Deposits | $ 335,812 | $ 270,718 | 24.0 % |
Securities | $ 92,005 | $ 68,749 | 33.8 % |
Page 2 - Trinity Bank fourth quarter 2020 earnings
Chief Executive Officer Matt R. Opitz commented, "We are pleased with the results of 2020 despite operating in one of the lowest interest rate environments in history, brought on by the global pandemic.
As we begin a new year filled with uncertainty and questions, Trinity Bank is well positioned to take advantage of the opportunities that lie ahead with the capital, profitability, asset quality, and liquidity to perform well. We remain focused on adding new, quality customer relationships while keeping a close eye on the loan portfolio, prudently adding to our reserve for loan losses, and looking for ways to safely boost the yield on earning assets. I have said it before, but we have the best staff we have ever had, and are blessed to operate in one of the best markets in the country. We look forward to continued growth and success in 2021."
President Barney C. Wiley noted, "In spite of the unforeseen challenges in 2020, we were blessed to have good results. We strengthened our core earnings (excluding the SBA PPP loans) and we are at the five yard line in implementing our Succession Plan (expanded facilities and increased staff). After building a base to open Trinity Bank in 2003, we produced 57 consecutive quarters of increased earnings. With the Succession Plan and the building of the next base, we look forward to the future - challenges and all."
Page 3 - Trinity Bank fourth quarter 2020 earnings
12/31/2020 | |||||||||||||||
ACTUAL FOR QUARTER | |||||||||||||||
| 3 Months | 3 Months | ||||||||||||||
EARNINGS SUMMARY | 12/31/2020 | 12/31/2019 | % | ||||||||||||
Net Interest Income | 3,048 | 2,506 | 21.6 | % | |||||||||||
Total Non-Interest Income | 151 | 127 | 18.9 | % | |||||||||||
Total Non-Interest Expense | (1,458 | ) | (1,203 | ) | 21.2 | % | |||||||||
Pretax pre-provision income | 1,741 | 1,430 | 21.7 | % | |||||||||||
Gain on sale of securities | (1 | ) | 0 | N/M | |||||||||||
Loan Loss Provision | (315 | ) | 0 | N/M | |||||||||||
Pretax Income | 1,425 | 1,430 | -0.3 | % | |||||||||||
Income Tax | (179 | ) | (210 | ) | -14.8 | % | |||||||||
Net Earnings | $ | 1,246 | $ | 1,220 | 2.1 | % | |||||||||
Earnings Per Share | 1.10 | 1.10 | 0.0 | % | |||||||||||
Diluted weighted average shares | 1,130 | 1,111 | |||||||||||||
ACTUAL FOR 12 MONTHS | |||||||||||||||
| 12 Months | 12 Months | ||||||||||||||
EARNINGS SUMMARY | 12/31/2020 | 12/31/2019 | % | ||||||||||||
Net Interest Income | 11,233 | 9,960 | 12.8 | % | |||||||||||
Total Non-Interest Income | 539 | 513 | 5.1 | % | |||||||||||
Total Non-Interest Expense | (5,762 | ) | (4,841 | ) | 19.0 | % | |||||||||
Pretax pre-provision income | 6,010 | 5,632 | 6.7 | % | |||||||||||
Gain on sale of securities and ORE | 17 | 10 | N/M | ||||||||||||
Loan Loss Provision | (640 | ) | (1,030 | ) | -37.9 | % | |||||||||
Pretax Income | 5,387 | 4,612 | 16.8 | % | |||||||||||
Income Tax | (671 | ) | (569 | ) | 17.9 | % | |||||||||
Net Earnings | $ | 4,716 | $ | 4,043 | 16.6 | % | |||||||||
Earnings Per Share | 4.16 | 3.63 | 14.6 | % | |||||||||||
Diluted weighted average shares | 1,132 | 1,115 | |||||||||||||
Page 4 - Trinity Bank fourth quarter 2020 earnings
TRINITY BANK N.A. | |||||||
(Unaudited) | |||||||
(Dollars in thousands, except per share data) |
Quarter Ended | Twelve Months Ending | ||||||
December 31 | % | December 31 | % | ||||
EARNINGS SUMMARY | 2020 | 2019 | Change | 2020 | 2019 | Change | |
Interest income | $3,177 | $2,996 | 6.0% | $12,089 | $11,812 | 2.3% | |
Interest expense | 129 | 490 | -73.7% | 856 | 1,852 | -53.8% | |
Net Interest Income | 3,048 | 2,506 | 21.6% | 11,233 | 9,960 | 12.8% | |
Service charges on deposits | 61 | 48 | 27.1% | 207 | 175 | 18.3% | |
Other income | 90 | 79 | 13.9% | 332 | 338 | -1.8% | |
Total Non Interest Income | 151 | 127 | 18.9% | 539 | 513 | 5.1% | |
Salaries and benefits expense | 977 | 740 | 32.0% | 3,784 | 3,104 | 21.9% | |
Occupancy and equipment expense | 119 | 93 | 28.0% | 467 | 436 | 7.1% | |
Other expense | 362 | 370 | -2.2% | 1,511 | 1,301 | 16.1% | |
Total Non Interest Expense | 1,458 | 1,203 | 21.2% | 5,762 | 4,841 | 19.0% | |
Pretax pre-provision income | 1,741 | 1,430 | 21.7% | 6,010 | 5,632 | 6.7% | |
Gain on sale of securities | (1) | 0 | N/M | (1) | 10 | N/M | |
Gain on sale of ORE | 0 | 0 | N/M | 18 | 0 | N/M | |
Provision for Loan Losses | 315 | 0 | N/M | 640 | 1,030 | -37.9% | |
Earnings before income taxes | 1,425 | 1,430 | -0.3% | 5,387 | 4,612 | 16.8% | |
Provision for income taxes | 179 | 210 | -14.8% | 671 | 569 | 17.9% | |
Net Earnings | $1,246 | $1,220 | 2.1% | $4,716 | $4,043 | 16.6% | |
Basic earnings per share | 1.15 | 1.12 | 2.7% | 4.35 | 3.69 | 17.9% | |
Basic weighted average shares | 1,083 | 1,092 | 1,085 | 1,096 | |||
outstanding | |||||||
Diluted earnings per share - estimate | 1.10 | 1.10 | 0.0% | 4.16 | 3.63 | 14.6% | |
Diluted weighted average shares outstanding | 1,130 | 1,111 | 1,132 | 1,115 | |||
Average for Quarter | Average for Twelve Months | |||||||||||||||||||||||
| December 31 | % | December 31 | % | |||||||||||||||||||||
BALANCE SHEET SUMMARY | 2020 | 2019 | Change | 2020 | 2019 | Change | ||||||||||||||||||
Total loans | $ | 239,440 | $ | 154,764 | 54.7 | % | $ | 209,503 | $ | 154,842 | 35.3 | % | ||||||||||||
Total short term investments | 23,960 | 69,110 | -65.3 | % | 20,682 | 36,120 | -42.7 | % | ||||||||||||||||
Total investment securities | 93,094 | 70,508 | 32.0 | % | 94,900 | 74,127 | 28.0 | % | ||||||||||||||||
Earning assets | 356,494 | 294,382 | 21.1 | % | 325,085 | 265,089 | 22.6 | % | ||||||||||||||||
Total assets | 363,558 | 301,596 | 20.5 | % | 371,207 | 272,704 | 36.1 | % | ||||||||||||||||
Noninterest bearing deposits | 130,114 | 101,932 | 27.6 | % | 212,098 | 81,381 | 160.6 | % | ||||||||||||||||
Interest bearing deposits | 191,654 | 168,784 | 13.5 | % | 83,534 | 154,650 | -46.0 | % | ||||||||||||||||
Total deposits | 321,768 | 270,716 | 18.9 | % | 295,632 | 236,031 | 25.3 | % | ||||||||||||||||
Fed Funds Purchased and Repurchase Agreements | 0 | 0 | N/M | 0 | 292 | N/M | ||||||||||||||||||
Shareholders' equity | $ | 38,084 | $ | 35,382 | 7.6 | % | $ | 37,173 | $ | 35,009 | 6.2 | % | ||||||||||||
Quarter Ended | ||||||||||||||||||||
| Dec 31, | Sept. 30, | June 30, | March 31, | Dec 31, | ||||||||||||||||
HISTORICAL EARNINGS SUMMARY | 2020 | 2020 | 2020 | 2020 | 2019 | |||||||||||||||
Interest income | $ | 3,177 | $ | 2,949 | $ | 3,042 | $ | 2,922 | $ | 2,996 | ||||||||||
Interest expense | 129 | 158 | 188 | 381 | 490 | |||||||||||||||
Net Interest Income | 3,048 | 2,791 | 2,854 | 2,541 | 2,506 | |||||||||||||||
Service charges on deposits | 61 | 56 | 39 | 50 | 48 | |||||||||||||||
Other income | 90 | 86 | 79 | 78 | 79 | |||||||||||||||
Total Non Interest Income | 151 | 142 | 118 | 128 | 127 | |||||||||||||||
Salaries and benefits expense | 977 | 915 | 1,037 | 856 | 740 | |||||||||||||||
Occupancy and equipment expense | 119 | 94 | 113 | 114 | 93 | |||||||||||||||
Other expense | 362 | 364 | 412 | 400 | 370 | |||||||||||||||
Total Non Interest Expense | 1,458 | 1,373 | 1,562 | 1,370 | 1,203 | |||||||||||||||
Pretax pre-provision income | 1,741 | 1,560 | 1,410 | 1,299 | 1,430 | |||||||||||||||
Gain on sale of securities | (1 | ) | 0 | 0 | 0 | 0 | ||||||||||||||
Gain on sale of ORE | 0 | 18 | 0 | 0 | 0 | |||||||||||||||
Gain on sale of other assets | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
Provision for Loan Losses | 315 | 200 | 125 | 0 | 0 | |||||||||||||||
Earnings before income taxes | 1,425 | 1,378 | 1,285 | 1,299 | 1,430 | |||||||||||||||
Provision for income taxes | 179 | 162 | 155 | 175 | 210 | |||||||||||||||
Net Earnings | $ | 1,246 | $ | 1,216 | $ | 1,130 | $ | 1,124 | $ | 1,220 | ||||||||||
Diluted earnings per share | $ | 1.10 | $ | 1.08 | $ | 1.00 | $ | 0.99 | $ | 1.10 | ||||||||||
TRINITY BANK N.A. | |||||
| (Unaudited) | |||||
| (Dollars in thousands, except per share data) |
| Ending Balance | |||||||||||||||||||||||
| Dec 31, | Sept. 30, | June 30, | March 31, | Dec 31, | |||||||||||||||||||
HISTORICAL BALANCE SHEET | 2020 | 2020 | 2020 | 2020 | 2019 | ||||||||||||||||||
Total loans | $ | 252,207 | $ | 228,473 | $ | 216,848 | $ | 173,992 | $ | 167,587 | |||||||||||||
Total short term investments | 24,993 | 16,429 | 38,648 | 37,566 | 60,603 | ||||||||||||||||||
Total investment securities | 95,244 | 90,606 | 90,658 | 73,287 | 70,804 | ||||||||||||||||||
Total earning assets | 372,444 | 335,508 | 346,154 | 284,845 | 298,994 | ||||||||||||||||||
Allowance for loan losses | (2,915 | ) | (2,598 | ) | (2,396 | ) | (2,269 | ) | (2,262 | ) | |||||||||||||
Premises and equipment | 2,340 | 2,400 | 2,455 | 2,522 | 2,560 | ||||||||||||||||||
Other Assets | 6,237 | 6,748 | 5,673 | 6,567 | 9,770 | ||||||||||||||||||
Total assets | 378,106 | 342,058 | 351,886 | 291,665 | 309,062 | ||||||||||||||||||
Noninterest bearing deposits | 134,692 | 114,284 | 118,933 | 89,581 | 100,527 | ||||||||||||||||||
Interest bearing deposits | 201,120 | 186,096 | 192,159 | 162,726 | 170,191 | ||||||||||||||||||
Total deposits | 335,812 | 300,380 | 311,092 | 252,307 | 270,718 | ||||||||||||||||||
Fed Funds Purchased and Repurchase Agreements | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
Other Liabilities | 1,270 | 2,029 | 1,501 | 1,779 | 1,047 | ||||||||||||||||||
Total liabilities | 337,082 | 302,409 | 312,593 | 254,086 | 271,765 | ||||||||||||||||||
Shareholders' Equity Actual | 38,778 | 37,463 | 37,089 | 36,069 | 35,858 | ||||||||||||||||||
Unrealized Gain - AFS | 2,246 | 2,186 | 2,203 | 1,510 | 1,439 | ||||||||||||||||||
Total Equity | $ | 41,024 | $ | 39,649 | $ | 39,292 | $ | 37,579 | $ | 37,297 | |||||||||||||
| Quarter Ending | |||||||||||||||||||||||
| Dec 31, | Sept. 30 | June 30, | March 31 | Dec 31 | |||||||||||||||||||
NONPERFORMING ASSETS | 2020 | 2020 | 2020 | 2020 | 2019 | ||||||||||||||||||
Nonaccrual loans | $ | 249 | $ | 266 | $ | 388 | $ | 408 | $ | 419 | |||||||||||||
Restructured loans | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||||
Other real estate & foreclosed assets | $ | 0 | $ | 0 | $ | 320 | $ | 320 | $ | 320 | |||||||||||||
Accruing loans past due 90 days or more | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||||
Total nonperforming assets | $ | 249 | $ | 266 | $ | 708 | $ | 728 | $ | 739 | |||||||||||||
Accruing loans past due 30-89 days | $ | 0 | $ | 0 | $ | 0 | $ | 248 | $ | 0 | |||||||||||||
Total nonperforming assets as a percentage | |||||||||||||||||||||||
of loans and foreclosed assets | 0.10 | % | 0.12 | % | 0.33 | % | 0.42 | % | 0.44 | % | |||||||||||||
| TRINITY BANK N.A. | |||||
| (Unaudited) | |||||
| (Dollars in thousands, except per share data) |
| Quarter Ending | ||||||||||||||||||||
ALLOWANCE FOR | Dec 31, | Sept. 30, | June 30, | March 31, | Dec 31, | |||||||||||||||
LOAN LOSSES | 2020 | 2020 | 2020 | 2020 | 2019 | |||||||||||||||
Balance at beginning of period | $ | 2,598 | $ | 2,396 | $ | 2,269 | $ | 2,262 | $ | 2,259 | ||||||||||
Loans charged off | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
Loan recoveries | 2 | 2 | 2 | 7 | 3 | |||||||||||||||
Net (charge-offs) recoveries | 2 | 2 | 2 | 7 | 3 | |||||||||||||||
Provision for loan losses | 315 | 200 | 125 | 0 | 0 | |||||||||||||||
Balance at end of period | $ | 2,915 | $ | 2,598 | $ | 2,396 | $ | 2,269 | $ | 2,262 | ||||||||||
Allowance for loan losses | ||||||||||||||||||||
as a percentage of total loans | 1.16 | % | 1.14 | % | 1.10 | % | 1.30 | % | 1.35 | % | ||||||||||
Allowance for loan losses net of PPP Loans | ||||||||||||||||||||
as a percentage of total loans | 1.46 | % | 1.48 | % | 1.36 | % | 1.30 | % | 1.35 | % | ||||||||||
Allowance for loan losses | ||||||||||||||||||||
as a percentage of nonperforming assets | 1171 | % | 977 | % | 338 | % | 312 | % | 306 | % | ||||||||||
Net charge-offs (recoveries) as a | ||||||||||||||||||||
percentage of average loans | 0.00 | % | 0.00 | % | 0.00 | % | -0.01 | % | 0.00 | % | ||||||||||
Provision for loan losses | ||||||||||||||||||||
as a percentage of average loans | 0.13 | % | 0.09 | % | 0.06 | % | 0.00 | % | 0.00 | % | ||||||||||
Quarter Ending | ||||||||||||||||||||
| Dec 31, | Sept. 30, | June 30, | March 31, | Dec 31, | ||||||||||||||||
SELECTED RATIOS | 2020 | 2020 | 2020 | 2020 | 2019 | |||||||||||||||
Return on average assets (annualized) | 1.37 | % | 1.42 | % | 1.32 | % | 1.55 | % | 1.62 | % | ||||||||||
Return on average equity (annualized) | 12.15 | % | 12.19 | % | 11.88 | % | 11.80 | % | 13.34 | % | ||||||||||
Return on average equity (excluding unrealized gain on investments) | 12.85 | % | 12.94 | % | 12.34 | % | 12.36 | % | 13.79 | % | ||||||||||
Average shareholders' equity to average assets | 10.48 | % | 10.99 | % | 10.69 | % | 12.55 | % | 11.73 | % | ||||||||||
Yield on earning assets (tax equivalent) | 3.88 | % | 3.65 | % | 3.81 | % | 4.33 | % | 4.67 | % | ||||||||||
Effective Cost of Funds | 0.28 | % | 0.19 | % | 0.22 | % | 0.54 | % | 0.70 | % | ||||||||||
Net interest margin (tax equivalent) | 3.60 | % | 3.46 | % | 3.59 | % | 3.79 | % | 3.97 | % | ||||||||||
Efficiency ratio (tax equivalent) | 44.8 | % | 50.4 | % | 51.6 | % | 48.9 | % | 43.4 | % | ||||||||||
End of period book value per common share | $ | 37.88 | $ | 36.61 | $ | 36.18 | $ | 34.54 | $ | 34.22 | ||||||||||
End of period book value (excluding unrealized gain on investments) | $ | 35.81 | $ | 34.59 | $ | 34.15 | $ | 33.15 | $ | 32.90 | ||||||||||
End of period common shares outstanding (in 000's) | 1,083 | 1,083 | 1,086 | 1,088 | 1,090 | |||||||||||||||
Twelve Months Ending | |||||||||
December 31, 2020 | December 31, 2019 | ||||||||
Tax | Tax | ||||||||
Average | Equivalent | Average | Equivalent | ||||||
YIELD ANALYSIS | Balance | Interest | Yield | Yield | Balance | Interest | Yield | Yield | |
Interest Earning Assets: | |||||||||
Short term investment | $ 33,964 | 153 | 0.45% | 0.45% | $ 35,738 | 708 | 1.98% | 1.98% | |
FRB Stock | 395 | 24 | 6.00% | 6.00% | 382 | 23 | 6.00% | 6.00% | |
Taxable securities | 505 | 7 | 1.39% | 1.39% | 622 | 13 | 2.09% | 2.09% | |
Tax Free securities | 84,554 | 2,278 | 2.69% | 3.41% | 73,505 | 2,160 | 2.94% | 3.72% | |
Loans | 209,503 | 9,627 | 4.60% | 4.60% | 154,938 | 8,908 | 5.75% | 5.75% | |
Total Interest Earning Assets | 328,921 | 12,089 | 3.68% | 3.88% | 265,185 | 11,812 | 4.45% | 4.67% | |
Noninterest Earning Assets: | |||||||||
Cash and due from banks | 5,446 | 5,100 | |||||||
Other assets | 4,304 | 4,406 | |||||||
Allowance for loan losses | (2,686) | (1,987) | |||||||
Total Noninterest Earning Assets | 7,064 | 7,519 | |||||||
Total Assets | $335,985 | $272,704 | |||||||
Interest Bearing Liabilities: | |||||||||
Transaction and Money Market accounts | 138,712 | 308 | 0.22% | 0.22% | 121,613 | 1,217 | 1.00% | 1.00% | |
Certificates and other time deposits | 42,839 | 548 | 1.28% | 1.28% | 33,037 | 626 | 1.89% | 1.89% | |
Other borrowings | 0 | 0 | 0.00% | 0.00% | 293 | 9 | 3.07% | 3.07% | |
Total Interest Bearing Liabilities | 181,551 | 856 | 0.47% | 0.47% | 154,943 | 1,852 | 1.20% | 1.20% | |
Noninterest Bearing Liabilities: | |||||||||
Demand deposits | 130,114 | 81,381 | |||||||
Other liabilities | 1,607 | 1,371 | |||||||
Shareholders' Equity | 40,183 | 35,009 | |||||||
Total Liabilities and Shareholders Equity | $353,455 | $272,704 | |||||||
Net Interest Income and Spread | 11,233 | 3.20% | 3.41% | 9,960 | 3.26% | 3.47% | |||
Net Interest Margin | 3.42% | 3.60% | 3.76% | 3.97% | |||||
December 31 | December 31 | |||
2020 | % | 2019 | % | |
LOAN PORTFOLIO | ||||
Commercial and industrial | $153,429 | 60.83% | $98,099 | 58.54% |
Real estate: | ||||
Commercial | 61,330 | 24.32% | 24,133 | 14.40% |
Residential | 20,492 | 8.13% | 23,115 | 13.79% |
Construction and development | 16,499 | 6.54% | 21,692 | 12.94% |
Consumer | 457 | 0.18% | 548 | 0.33% |
PPP Loans | ||||
Total loans (gross) | 252,207 | 100.00% | 167,587 | 100.00% |
Unearned discounts | 0 | 0.00% | 0 | 0.00% |
Total loans (net) | $252,207 | 100.00% | $167,587 | 100.00% |
| December 31 | December 31 | |||||||
| 2020 | 2019 | |||||||
REGULATORY CAPITAL DATA | ||||||||
Tier 1 Capital | $ | 38,778 | $ | 35,859 | ||||
Total Capital (Tier 1 + Tier 2) | $ | 41,583 | $ | 38,121 | ||||
Total Risk-Adjusted Assets | $ | 224,307 | $ | 181,050 | ||||
Tier 1 Risk-Based Capital Ratio | 17.29 | % | 19.81 | % | ||||
Total Risk-Based Capital Ratio | 18.54 | % | 21.06 | % | ||||
Tier 1 Leverage Ratio | 10.66 | % | 11.89 | % | ||||
OTHER DATA | ||||||||
Full Time Equivalent | ||||||||
Employees (FTE's) | 23 | 22 | ||||||
Stock Price Range | ||||||||
(For the Three Months Ended): | ||||||||
High | $ | 64.00 | $ | 65.50 | ||||
Low | $ | 64.00 | $ | 62.00 | ||||
Close | $ | 64.00 | $ | 64.98 | ||||
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 Burt
Executive Vice President
Trinity Bank
817-763-9966
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.
SOURCE: Trinity Bank N.A.
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https://www.accesswire.com/626270/Trinity-Bank-Reports-2020-4th-Quarter-Net-Income-of-1246000-and-Full-Year-Net-Income-of-4716000
