Trinity Bank Reports First $1,000,000 Quarterly Profit

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News Desk 2018

Oct 26, 2016 at 4:00 PM

FORT WORTH, TX--(Marketwired - Oct 26, 2016) - Trinity Bank, N.A. ( OTC : TYBT ) today announced operating results for the third quarter and the nine months ending September 31, 2016. The financial summary is attached for your review.

Results of Operations

For the third quarter of 2016, Trinity Bank, N.A. reported Net Income after Taxes of $1,019,000, an increase of 7.4% over third quarter 2014 earnings of $949,000. Earnings per diluted common share for the third quarter 2016 amounted to $.91, an increase of 8.3% over third quarter 2015 results of $.84 per diluted common share.

For the first nine months of 2016, Net Income after Taxes was $2,937,000, an increase of 6.6% over the nine month 2015 results of $2,756,000. Earnings per diluted common share for the first nine months of 2016 were $2.60, an increase of 6.6% over 2015 nine months results of $2.44 per diluted common share.

Jeffrey M. Harp, President, stated, "We are pleased to announce Trinity's first quarter with Net Income in excess of $1,000,000. It took us four full years of operation to make $1,000,000 for the year (2007). It is very gratifying for all of us to now be making in excess of $1,000,000 in one quarter. I would like to thank our staff, our Board, and our customers for making this possible."

"Trinity continues to perform at a high level -- Return on Assets of 1.84% and Return on Equity of 14.33% -- when compared to all local, state, and national peer groups."

As previously announced, Trinity Bank will pay its tenth cash dividend October 31^st to shareholders of record as of October 14^th . This dividend of $.46 per share represents a 4.5% increase over the $.44 dividend that was paid in April, 2016. The Board of Directors will continue to review dividend policy on a semi-annual basis."


Average for Quarter Ending	9/30/2016			9/30/2015			%
(in 000's)
Loans	$	120,931		$	119,107		1.5	%
Deposits	$	189,344		$	179,635		5.4	%



Actual for Quarter Ending	9/30/2016			9/30/2015			%
(in 000's)

Net Interest Income	$	1,874		$	1,910		(1.9	)%
Non-Interest Income		153			130		17.7	%
Non-Interest Expense		(816	)		(839	)	(2.7	)%
Pretax Preprovision Income	$	1,211		$	1,201		.8	%

Gain on Sale of Securities and Foreclosed Assets		91			31
Loan Loss Provision		0			0
Pre Tax Income		1,302			1,232		5.7	%
Income Tax		(283	)		(283	)
Net Income	$	1,019		$	949		7.4	%

Diluted Weighted Average Shares		1,120			1,133

Earnings per Share		0.91			0.84		8.3	%

Return on Assets		1.84	%		1.83	%
Return on Equity		14.33	%		14.24	%

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.



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

	Quarter Ended						Nine Months Ending
	September 30				%		September 30				%
EARNINGS SUMMARY	2016		2015		Change		2016		2015		Change

Interest income	$	2,010	$	2,007	0.1	%	$	6,070	$	5,821	4.3	%
Interest expense		136		97	40.2	%	$	396	$	291	36.1	%
Net Interest Income		1,874		1,910	-1.9	%		5,674		5,530	2.6	%

Service charges on deposits		38		46	-17.4	%	$	105	$	136	-22.8	%
Other income		115		82	40.2	%		317	$	253	25.3	%
Total Non Interest Income		153		130	17.7	%		422		389	8.5	%

Salaries and benefits expense		476		514	-7.4	%	$	1,505	$	1,397	7.7	%
Occupancy and equipment expense		72		69	4.3	%	$	225	$	195	15.4	%
Other expense		268		256	4.7	%	$	836	$	866	-3.5	%
Total Non Interest Expense		816		839	-2.7	%		2,566		2,458	4.4	%

Pretax pre-provision income		1,211		1,201	0.8	%		3,530		3,461	2.0	%

Gain on sale of securities		91		31	N/M		$	184	$	43	N/M
Gain on sale of foreclosed assets		0		0	N/M		$	0	$	70	N/M
Gain on sale of other assets		0		0	N/M		$	41	$	0	N/M

Provision for Loan Losses		0		0	N/M			0		0	N/M

Earnings before income taxes		1,302		1,232	5.7	%		3,755		3,574	5.1	%
Provision for income taxes		283		283	0.0	%	$	818	$	818	0.0	%
Net Earnings	$	1,019	$	949	7.4	%	$	2,937	$	2,756	6.6	%

Basic earnings per share		0.92		0.85	8.2	%		2.62		2.46	6.5	%
Basic weighted average shares outstanding		1,109		1,122				1,118		1,121

Diluted earnings per share		0.91		0.84	8.3	%		2.60		2.44	6.6	%
Diluted weighted average shares outstanding		1,120		1,133				1,129		1,132



	Average for Quarter						Average for Nine Months
	September 30				%		September 30				%
BALANCE SHEET SUMMARY	2016		2015		Change		2016		2015		Change

Total loans	$	120,931	$	119,107	1.5	%	$	120,099	$	115,632	3.9	%
Total short term investments		14,035		13,055	7.5	%		15,736		15,033	4.7	%
Total investment securities		81,166		70,557	15.0	%		78,851		70,992	11.1	%

Earning assets		216,132		202,719	6.6	%		214,686		201,657	6.5	%

Total assets		221,332		207,560	6.6	%		219,926		206,819	6.3	%

Noninterest bearing deposits		61,241		60,995	0.4	%		62,336		58,971	5.7	%
Interest bearing deposits		128,103		118,640	8.0	%		126,558		120,788	4.8	%

Total deposits		189,344		179,635	5.4	%		188,894		179,759	5.1	%

Fed Funds Purchased and Repurchase Agreements		361		429	-15.9	%		358		429	-16.6	%

Shareholders' equity	$	30,278	$	26,653	13.6	%	$	29,390	$	25,837	13.8	%



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

	Average for Quarter Ending
	Sept. 30,		June 30,		March 31,		Dec 31,		Sept. 30,
BALANCE SHEET SUMMARY	2016		2016		2016		2015		2015

Total loans	$	120,931	$	118,028	$	122,069	$	124,316	$	119,107
Total short term investments		14,035		16,766		16,414		16,894		13,055
Total investment securities		81,166		80,062		76,418		71,663		70,557

Earning assets		216,132		214,856		214,901		212,873		202,719

Total assets		221,332		219,895		220,262		217,961		207,560

Noninterest bearing deposits		61,241		58,456		63,433		67,719		60,995
Interest bearing deposits		128,103		130,204		126,587		120,853		118,640

Total deposits		189,344		188,660		190,020		188,572		179,635

Fed Funds Purchased and Repurchase Agreements		361		358		355		361		429

Shareholders' equity	$	30,278	$	29,460	$	28,758	$	27,733	$	26,653


	Quarter Ended
	Sept. 30,		June 30,		March 31,		Dec 31,		Sept. 30,
HISTORICAL EARNINGS SUMMARY	2016		2016		2016		2015		2015


Interest income	$	2,010	$	2,016	$	2,043	$	2,070	$	2,007
Interest expense		136		134		126		107		97
Net Interest Income		1,874		1,882		1,917		1,963		1,910

Service charges on deposits		38		37		39		50		48
Other income		115		87		104		87		82
Total Non Interest Income		153		124		143		137		130

Salaries and benefits expense		476		520		509		627		514
Occupancy and equipment expense		72		76		78		68		69
Other expense		268		267		298		149		256
Total Non Interest Expense		816		863		885		844		839

Pretax pre-provision income		1,211		1,143		1,175		1,256		1,201

Gain on sale of securities		91		67		27		18		31
Gain on sale of foreclosed assets		0		0		0		0		0
Gain on sale of other assets		0		19		22		21		0

Provision for Loan Losses		0		0		0		76		0

Earnings before income taxes		1,302		1,229		1,224		1,219		1,232
Provision for income taxes		283		263		272		242		283

Net Earnings	$	1,019	$	966	$	952	$	977	$	949

Diluted earnings per share	$	0.91	$	0.86	$	0.84	$	0.86	$	0.84



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

		Ending Balance
		Sept. 30,			June 30,			March 31,			Dec 31,			Sept. 30,
HISTORICAL BALANCE SHEET		2016			2016			2016			2015			2015

Total loans		$	123,995		$	117,616		$	120,214		$	127,871		$	118,146
Total short term investments			12,817			13,269			21,082			20,095			18,533
Total investment securities			80,951			79,974			78,737			72,616			70,542

Total earning assets			217,763			210,859			220,033			220,582			207,221

Allowance for loan losses			(1,644	)		(1,633	)		(1,624	)		(1,613	)		(1,528	)
Premises and equipment			1,764			1,425			1,444			1,397			1,304
Other Assets			8,918			5,353			5,189			8,008			5,381

Total assets			226,801			216,004			225,042			228,374			212,378

Noninterest bearing deposits			67,702			59,753			63,151			73,078			60,749
Interest bearing deposits			127,123			124,839			130,828			125,772			122,491

Total deposits			194,825			184,592			193,979			198,850			183,240

Fed Funds Purchased and Repurchase Agreements			361			361			355			355			429
Other Liabilities			1,793			1,235			1,842			1,095			1,582

Total liabilities			196,979			186,188			196,176			200,300			185,251

Shareholders' Equity Actual			28,106			28,097			27,180			26,755			25,818
Unrealized Gain - AFS			1,716			1,719			1,686			1,319			1,309
	Total Equity	$	29,822		$	29,816		$	28,866		$	28,074		$	27,127


		Quarter Ending
		Sept. 30,			June 30,			March 31,			Dec 31,			Sept. 30,
NONPERFORMING ASSETS		2016			2016			2015			2015			2015

Nonaccrual loans		$	3,173		$	1,349		$	1,383		$	0		$	0
Restructured loans		$	0		$	0		$	0		$	0		$	0
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		$	3,173		$	1,349		$	1,383		$	0		$	0

Accruing loans past due 30-89 days		$	0		$	0		$	0		$	0		$	0

Total nonperforming assets as a percentage of loans and foreclosed assets			2.56	%		1.15	%		1.15	%		0.00	%		0.00	%



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

		Quarter Ending
ALLOWANCE FOR		Sept. 30,			June 30,			March 31,			Dec 31,			Sept. 30,
LOAN LOSSES		2016			2016			2016			2015			2015

Balance at beginning of period		$	1,633		$	1,624		$	1,613		$	1,528		$	1,518
Loans charged off			0			0			0			0			0
Loan recoveries			11			9			11			9			10
	Net (charge-offs) recoveries		11			9			11			9			10
Provision for loan losses			0			0			0			76			0
Balance at end of period		$	1,644		$	1,633		$	1,624		$	1,613		$	1,528

Allowance for loan losses
as a percentage of total loans			1.33	%		1.39	%		1.35	%		1.26	%		1.29	%
Allowance for loan losses
as a percentage of nonperforming assets			52	%		121	%		117	%		N/A			N/A
Net charge-offs (recoveries) as a
percentage of average loans			-0.01	%		-0.01	%		-0.01	%		-0.01	%		-0.01	%
Provision for loan losses
as a percentage of average loans			N/A			N/A			N/A			0.06	%		N/A



		Quarter Ending
		Sept. 30,			June 30,			March 31,			Dec 31,			Sept. 30,
SELECTED RATIOS		2016			2016			2016			2015			2015

Return on average assets (annualized)			1.84	%		1.76	%		1.73	%		1.79	%		1.83	%

Return on average equity (annualized)			13.46	%		13.12	%		13.19	%		14.09	%		14.24	%

Return on average equity (excluding unrealized gain on investments)			14.33	%		13.97	%		14.01	%		14.84	%		14.68	%

Average shareholders' equity to average assets			13.68	%		13.40	%		13.06	%		12.72	%		12.84	%

Yield on earning assets (tax equivalent)			4.14	%		4.16	%		4.32	%		4.23	%		4.34	%

Effective Cost of Funds			0.26	%		0.25	%		0.24	%		0.20	%		0.19	%

Net interest margin (tax equivalent)			3.88	%		3.92	%		4.08	%		4.03	%		4.15	%

Efficiency ratio (tax equivalent)			36.2	%		38.8	%		38.4	%		36.2	%		37.0	%

End of period book value per common share		$	26.89		$	26.67		$	25.77		$	25.07		$	24.18

End of period book value (excluding unrealized gain on investments)		$	25.34		$	25.13		$	24.27		$	23.89		$	23.01

End of period common shares outstanding (in 000's)			1,109			1,118			1,120			1,120			1,122



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

	Quarter Ending
	September 30, 2016								September 30, 2015

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

Interest Earning Assets:
Short term investment	$	13,663		28	0.82	%	0.82	%	$	12,685		21	0.66	%	0.66	%
Investment securities		372		6	6.00	%	6.00	%		370		6	6.00	%	6.00	%
Tax Free securities		81,166		513	2.53	%	3.64	%		70,557		440	2.49	%	3.59	%
Loans		120,931		1,463	4.84	%	4.84	%		119,107		1,540	5.17	%	5.17	%

Total Interest Earning Assets		216,132		2,010	3.72	%	4.14	%		202,719		2,007	3.96	%	4.34	%

Noninterest Earning Assets:
Cash and due from banks		3,820								4,112
Other assets		3,017								2,257
Allowance for loan losses		(1,637	)							(1,528	)

Total Noninterest Earning Assets		5,200								4,841

Total Assets	$	221,332							$	207,560

Interest Bearing Liabilities:
Transaction and Money Market accounts		102,124		78	0.31	%	0.31	%		96,860		67	0.28	%	0.28	%
Certificates and other time deposits		25,979		58	0.89	%	0.89	%		21,780		30	0.55	%	0.55	%
Other borrowings		361		0	0.30	%	0.30	%		429		0	0.25	%	0.25	%

Total Interest Bearing Liabilities		128,464		136	0.42	%	0.42	%		119,069		97	0.33	%	0.33	%

Noninterest Bearing Liabilities
Demand deposits		61,241								60,995
Other liabilities		1,349								843
Shareholders' Equity		30,278								26,653

Total Liabilities and Shareholders Equity	$	221,332							$	207,560

Net Interest Income and Spread				1,874	3.30	%	3.72	%				1,910	3.63	%	4.02	%

Net Interest Margin					3.47	%	3.88	%					3.77	%	4.15	%



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

		September 30					September 30
		2016			%		2015			%
LOAN PORTFOLIO

Commercial and industrial		$	67,314		54.29	%	$	60,904		51.55	%
Real estate:
	Commercial		22,227		17.93	%		22,523		19.06	%
	Residential		19,398		15.64	%		19,677		16.65	%
	Construction and development		13,671		11.03	%		13,237		11.20	%
Consumer			1,385		1.12	%		1,805		1.53	%

Total loans (gross)			123,995		100.00	%		118,146		100.00	%

Unearned discounts			0		0.00	%		0		0.00	%

Total loans (net)		$	123,995		100.00	%	$	118,146		100.00	%


		September 30					September 30
		2016					2015
REGULATORY CAPITAL DATA
Tier 1 Capital		$	28,106				$	25,818
Total Capital (Tier 1 + Tier 2)		$	29,750				$	27,346
Total Risk-Adjusted Assets		$	141,322				$	131,608
Tier 1 Risk-Based Capital Ratio			19.92	%				19.62	%
Total Risk-Based Capital Ratio			21.08	%				20.78	%
Tier 1 Leverage Ratio			12.70	%				12.44	%

OTHER DATA
Full Time Equivalent
Employees (FTE's)			16					16

Stock Price Range
(For the Three Months Ended):
	High	$	50.25				$	61.00
	Low	$	49.00				$	51.00
	Close	$	50.25				$	51.00