Trinity Bank Reports Results for 2024 Net Income Up 5.5% to $8,458,000 Return on Assets 1.70%

NYSE - LSE

RBGPF	0%	70.49	$
CMSC	0.3%	19.82	$
RYCEF	3.27%	17.15	$
GSK	-0.77%	49.13	$
RELX	0.91%	40.46	$
BTI	0.63%	61.91	$
BP	-5.24%	47.88	$
BCE	1.4%	20.67	$
RIO	1.02%	82.73	$
NGG	0.56%	84.42	$
VOD	-1.47%	15.65	$
BCC	-5.11%	75	$
CMSD	0.65%	19.89	$
JRI	-0.09%	11.26	$
AZN	-0.04%	186.58	$

Trinity Bank Reports Results for 2024 Net Income Up 5.5% to $8,458,000 Return on Assets 1.70%

ECONOMY 05.02.2025

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.

Text size:

Results of Operation

For 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 earnings

TRINITY 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	2,738	-2.1	%	10,972	8,611	27.4	%
Net Interest Income	4,745	4,080	16.3	%	17,607	15,449	14.0	%

Service charges on deposits	70	55	27.3	%	256	247	3.6	%
Other income	112	117	-4.3	%	459	471	-2.5	%
Total Non Interest Income	182	172	5.8	%	715	718	-0.4	%


Salaries and benefits expense	1,343	1,314	2.2	%	5,254	4,699	11.8	%
Occupancy and equipment expense	117	109	7.3	%	495	454	9.0	%
Other expense	575	509	13.0	%	2,455	1,887	30.1	%
Total Non Interest Expense	2,035	1,932	5.3	%	8,204	7,040	16.5	%

Pretax pre-provision income	2,892	2,320	24.7	%	10,118	9,127	10.9	%

Gain on sale of Securities	1	(36	)	N/M	2	(40	)	N/M
Gain on sale of Assets	0	58	N/M	53	58	N/M
Provision for Loan Losses	350	0	N/M	350	0	N/M

Earnings before income taxes	2,543	2,342	8.6	%	9,823	9,145	7.4	%
Provision for income taxes	365	207	76.3	%	1,365	1,130	20.8	%

Net Earnings	$	2,178	$	2,135	2.0	%	$	8,458	$	8,015	5.5	%

Basic earnings per share	2.01	1.96	2.5	%	7.83	7.36	6.4	%
Basic weighted average shares	1,085	1,088	1,080	1,089
outstanding

Diluted earnings per share - estimate	1.92	1.88	2.1	%	7.48	7.06	5.9	%
Diluted weighted average shares outstanding	1,135	1,134	1,130	1,135

	Average for Quarter						Average for Twelve Months
	December 31						%		December 31				%
BALANCE SHEET SUMMARY	2024		2023		Change		2024		2023		Change

Total loans	$	297,595	$	297,994	-0.1	%	$	301,718	$	287,127	5.1	%
Total short term investments	84,667	43,172	96.1	%	46,595	26,075	78.7	%
FRB Stock	438	430	1.9	%	436	429	1.6	%
Total investment securities	139,200	132,086	5.4	%	139,161	134,211	3.7	%

Earning assets	521,900	473,252	10.3	%	487,910	447,842	8.9	%

Total assets	529,766	481,952	9.9	%	495,755	455,520	8.8	%

Noninterest bearing deposits	140,237	138,527	1.2	%	132,835	140,837	-5.7	%
Interest bearing deposits	331,293	297,030	11.5	%	307,873	267,392	15.1	%

Total deposits	471,529	435,557	8.3	%	440,708	408,229	8.0	%

Fed Funds Purchased and Repurchase Agreements	0	261	N/M	0	351	N/M

Shareholders' equity	$	58,388	$	52,263	11.7	%	$	56,039	$	50,653	10.6	%

TRINITY BANK N.A.
(Unaudited)
(Dollars in thousands, except per share data)

	Average for Quarter Ending
	Dec 31,		Sep 30,		June 30,		March 31,		Dec. 31
BALANCE SHEET SUMMARY	2024		2024		2024		2024		2023

Total loans	$	297,595	$	300,487	$	306,551	$	302,296	$	297,994
Total short term investments	84,667	38,112	25,626	37,649	43,172
FRB Stock	438	437	435	433	430
Total investment securities	139,200	137,751	137,088	142,623	132,086

Earning assets	521,900	476,787	469,700	483,001	473,682

Total assets	529,766	485,034	477,700	490,262	481,952

Noninterest bearing deposits	140,237	131,659	131,609	127,766	138,527
Interest bearing deposits	331,293	297,480	293,548	309,030	297,030

Total deposits	471,529	429,139	425,157	436,796	435,557

Fed Funds Purchased and Repurchase Agreements	0	0	0	0	261

Shareholders' equity	$	58,388	$	56,857	$	54,951	$	53,923	$	52,263

	Quarter Ended
	Dec 31,		Sep 30,		June 30,		March 31,		Dec. 31
HISTORICAL EARNINGS SUMMARY	2024		2024		2024		2024		2023


Interest income	$	7,426	$	7,112	$	7,107	$	6,934	$	6,818
Interest expense	2,681	2,749	2,713	2,832	2,738
Net Interest Income	4,745	4,363	4,394	4,102	4,080

Service charges on deposits	70	65	64	53	55
Other income	112	109	121	121	117
Total Non Interest Income	182	174	185	174	172

Salaries and benefits expense	1,343	1,368	1,319	1,223	1,314
Occupancy and equipment expense	117	133	122	122	109
Other expense	575	601	657	620	509
Total Non Interest Expense	2,035	2,102	2,098	1,965	1,932

Pretax pre-provision income	2,892	2,435	2,481	2,311	2,320

Gain on sale of securities	1	4	(4	)	0	(36	)
Gain on sale of Other Assets	0	0	36	17	58
Provision for Loan Losses	350	0	0	0	0

Earnings before income taxes	2,543	2,439	2,514	2,328	2,342
Provision for income taxes	365	340	360	300	207

Net Earnings	$	2,178	$	2,099	$	2,154	$	2,028	$	2,135

Diluted earnings per share	$	1.92	$	1.86	$	1.91	$	1.80	$	1.88

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	2024		2024		2024		2024		2023

Total loans	$	305,864	$	296,906	$	304,810	$	312,372	$	297,423
FRB Stock	439	438	435	435	430
Total short term investments	69,746	59,576	10,003	38,009	40,334
Total investment securities	138,306	137,510	136,331	139,598	140,403

Total earning assets	514,355	494,430	451,579	490,414	478,590

Allowance for loan losses	(5,583	)	(5,230	)	(5,227	)	(5,225	)	(5,224	)
Premises and equipment	4,123	2,393	2,397	2,375	2,387
Other Assets	9,339	9,739	14,711	8,149	10,291

Total assets	522,234	501,332	463,460	495,713	486,044

Noninterest bearing deposits	146,834	137,594	128,318	130,876	130,601
Interest bearing deposits	318,206	305,010	280,945	310,889	301,603

Total deposits	465,040	442,604	409,263	441,765	432,204

Fed Funds Purchased and Repurchase Agreements	0	0	0	0	0
Other Liabilities	2,711	2,901	2,804	2,618	2,663

Total liabilities	467,751	445,505	412,067	444,383	434,867

Shareholders' Equity Actual	59,758	57,976	55,915	54,777	53,465
Unrealized Gain/Loss - AFS	(5,275	)	(2,149	)	(4,957	)	(3,883	)	(2,718	)
Total Equity	$	54,483	$	55,827	$	50,958	$	50,894	$	50,747

	Quarter Ending
	Dec. 31,		Sept. 30,		June 30,		March 31,		Dec. 31
NONPERFORMING ASSETS	2024		2024		2024		2024		2023

Nonaccrual loans	$	1,047	$	0	$	0	$	0	$	0
Restructured loans	0	505	552	598	658
Other real estate & foreclosed assets	0	0	0	0	0
Accruing loans past due 90 days or more	0	0	0	0	0
Total nonperforming assets	$	1,047	$	505	$	552	$	598	$	658

Accruing loans past due 30-89 days	$	0	$	39	$	1,274	$	0	$	1

Total nonperforming assets as a percentage
of loans and foreclosed assets	0.34	%	0.17	%	0.18	%	0.19	%	0.22	%

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	2024		2024		2024		2024		2023

Balance at beginning of period	$	5,230	$	5,227	$	5,224	$	5,224	$	5,222
Loans charged off	0	0	0	0	0
Loan recoveries	3	3	3	0	2
Net (charge-offs) recoveries	3	3	3	0	2
Provision for loan losses	350	0	0	0	0
Balance at end of period	$	5,583	$	5,230	$	5,227	$	5,224	$	5,224

Allowance for loan losses
as a percentage of total loans	1.83	%	1.76	%	1.71	%	1.67	%	1.76	%
Allowance for loan losses
as a percentage of nonperforming assets	533	%	1036	%	947	%	874	%	794	%
Net charge-offs (recoveries) as a
percentage of average loans	0.00	%	0.00	%	0.00	%	0.00	%	0.00	%
Provision for loan losses
as a percentage of average loans	0.11	%	0.00	%	0.00	%	0.00	%	0.00	%

	Quarter Ending
	Dec. 31,		Sept. 30,		June 30,		March 31,		Dec. 31
SELECTED RATIOS	2024		2024		2024		2024		2023

Return on average assets (annualized)	1.64	%	1.73	%	1.80	%	1.65	%	1.77	%

Return on average equity (annualized)	15.85	%	15.91	%	17.42	%	16.03	%	19.87	%

Return on average equity (excluding unrealized gain on investments)	14.92	%	14.77	%	15.68	%	15.04	%	16.34	%

Average shareholders' equity to average assets	11.02	%	11.72	%	11.50	%	11.00	%	10.84	%

Yield on earning assets (tax equivalent)	5.92	%	6.20	%	6.28	%	5.97	%	5.81	%

Effective Cost of Funds	2.06	%	2.31	%	2.31	%	2.34	%	2.16	%

Net interest margin (tax equivalent)	3.86	%	3.89	%	3.97	%	3.63	%	3.65	%

Efficiency ratio (tax equivalent)	39.0	%	43.7	%	43.2	%	43.1	%	42.4	%

End of period book value per common share	$	50.21	$	51.79	$	47.23	$	47.17	$	46.73

End of period book value (excluding unrealized gain/loss on investments)	$	55.08	$	53.78	$	51.82	$	50.77	$	49.23

End of period common shares outstanding (in 000's)	1,085	1,078	1,079	1,079	1,086

TRINITY BANK N.A.
(Unaudited)
(Dollars in thousands, except per share data)

	Twelve Months Ending
	December 31, 2024													December 31, 2023

	Tax		Tax
	Average		Equivalent		Average		Equivalent
YIELD ANALYSIS	Balance		Interest		Yield		Yield		Balance		Interest	Yield		Yield

Interest Earning Assets:
Short term investment	$	46,595	$	2,417	5.19	%	5.19	%	$	26,075	1,379	5.29	%	5.29	%
FRB Stock	436	26	6.00	%	6.00	%	429	26	6.00	%	6.00	%
Taxable securities	0	0	0.00	%	0.00	%	1,383	73	5.28	%	5.28	%
Tax Free securities	139,161	4,486	3.22	%	3.44	%	132,399	3,438	2.60	%	3.29	%
Loans	301,718	21,651	7.18	%	7.18	%	287,127	19,144	6.67	%	6.67	%

Total Interest Earning Assets	487,910	28,580	5.86	%	5.92	%	447,413	24,060	5.38	%	5.58	%

Noninterest Earning Assets:
Cash and due from banks	5,712	5,856
Other assets	7,363	7,306
Allowance for loan losses	(5,230	)	(5,057	)

Total Noninterest Earning Assets	7,845	8,105

Total Assets	$	495,755	$	455,518

Interest Bearing Liabilities:
Transaction and Money Market accounts	$	200,832	$	6,125	3.05	%	3.05	%	179,325	5,504	3.07	%	3.07	%
Certificates and other time deposits	107,041	4,846	4.53	%	4.53	%	78,092	3,034	3.89	%	3.89	%
Other borrowings	0	0	0.00	%	0.00	%	10,327	73	0.0071	0.71	%

Total Interest Bearing Liabilities	307,873	10,971	3.56	%	3.56	%	267,744	8,611	3.22	%	3.22	%

Noninterest Bearing Liabilities:
Demand deposits	132,835	140,835
Other liabilities	3,074	2,573
Shareholders' Equity	51,974	44,366

Total Liabilities and Shareholders Equity	$	495,755	$	455,518

Net Interest Income and Spread	$	180,037	$	17,609	2.29	%	2.35	%	179,669	15,449	2.16	%	2.37	%

Net Interest Margin	3.61	%	3.67	%	3.45	%	3.66	%

TRINITY BANK N.A.
(Unaudited)
(Dollars in thousands, except per share data)

	December 31		December 31
	2024		%		2023	%
LOAN PORTFOLIO

Commercial and industrial	$	168,145	54.97	%	$	162,907	54.77	%
Real estate:
Commercial	96,441	31.53	%	86,215	28.99	%
Residential	11,209	3.66	%	17,271	5.81	%
Construction and development	29,933	9.79	%	30,724	10.33	%
Consumer	136	0.04	%	306	0.10	%

Total loans	$	305,864	100.00	%	297,423	100.00	%



December 31						December 31
	2024	2023
REGULATORY CAPITAL DATA
Tier 1 Capital	$	59,758	$	53,464
Total Capital (Tier 1 + Tier 2)	$	64,147	$	57,695
Total Risk-Adjusted Assets	$	349,667	$	337,534
Tier 1 Risk-Based Capital Ratio	17.09	%	15.84	%
Total Risk-Based Capital Ratio	18.34	%	17.10	%
Tier 1 Leverage Ratio	11.28	%	11.09	%

OTHER DATA
Full Time Equivalent
Employees (FTE's)	28	28

Stock Price Range
(For the Three Months Ended):
High	$	91.00	$	90.00
Low	$	80.00	$	79.25
Close	$	91.00	$	90.00

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, NA (Fort Worth, Texas)

View the original press release on ACCESS Newswire

H.Romero--AT

Featured

Asian stocks mixed as tech sector struggles to rebound from selloff

Isabella Bank Corporation Announces Completion of Merger with Grand River Commerce, Inc. and the Results of Merger Consideration Elections

Aehr Test Systems Reports Record First Quarter Fiscal 2027 Revenue of $33.0 Million; Raises Full-Year Revenue Outlook to $150 Million, Triple Fiscal 2026 Revenue

Arizona Tribune - Trinity Bank Reports Results for 2024 Net Income Up 5.5% to $8,458,000 Return on Assets 1.70%