3RD QUARTER RETURN ON ASSETS 1.60%
3RD QUARTER RETURN ON EQUITY 15.99%
FORT WORTH, TX / ACCESSWIRE / October 25, 2022 / Trinity Bank N.A. (OTCIQ PINK:TYBT) today announced operating results for the third quarter and the nine months ending September 30, 2022.
Results of Operation
For the third quarter 2022, Trinity Bank, N.A. reported Net Income after Taxes of $1,866,000, an increase of 26.4% over third quarter 2021 earnings of $1,476,000. Earnings per diluted common share for the third quarter 2022 amounted to $1.64, an increase of 26.2% over third quarter 2021 results of $1.30 per diluted common share.
For the first nine months of 2022, Net Income after Taxes was $5,156,000, an increase of 21.9% over the first nine months of 2021 results of $4,230,000. Earnings per diluted common share for the first nine months of 2022 were $4.53, an increase of 20.8% over the first nine months of 2021 results of $3.75 per diluted common share.
CEO Matt R. Opitz stated, "We are pleased with 3Q 2022 results which represent our most profitable quarter since inception in 2003. We are especially proud of our employees who continue to demonstrate their willingness to go above and beyond when it comes to meeting the needs of our customers."
While we continue to experience global economic uncertainty, a rapidly rising rate environment and a controversial upcoming mid-term election, we remain encouraged by the performance and resilience of the North Texas market. Despite the sense that a deeper economic slow-down is inevitable, we have yet to see any deterioration in our loan portfolio. Further, we continue to see good loan demand both from our existing customer base as well as new opportunities with quality prospects."
Matt R. Opitz further commented, "While the rising rate environment has certainly helped to increase our interest income, we remain committed to paying as much as we can for deposits instead of as little as we can get away with. Trinity Bank is currently offering a number of deposit products with rates well above most of our local competition."
"Trinity Bank is positioned to perform well in an unsettled economic time with a strong capital base as well as significantly above average profitability and efficiency."
Trinity Bank Third Quarter 2022 Earnings
TRINITY BANK N.A.
(Unaudited)
(Dollars in thousands, except per share data)
| Quarter Ended | Nine Months Ending | |||||||||||||||||||||||
| September 30 | % | September 30 | % | |||||||||||||||||||||
EARNINGS SUMMARY | 2022 | 2021 | Change | 2022 | 2021 | Change | ||||||||||||||||||
Interest income | $ | 4,588 | $ | 3,692 | 24.3 | % | $ | 11,951 | $ | 11,153 | 7.2 | % | ||||||||||||
Interest expense | 607 | 150 | 304.7 | % | 1,021 | 426 | 139.7 | % | ||||||||||||||||
Net Interest Income | 3,981 | 3,542 | 12.4 | % | 10,930 | 10,727 | 1.9 | % | ||||||||||||||||
Service charges on deposits | 58 | 56 | 3.6 | % | 182 | 169 | 7.7 | % | ||||||||||||||||
Other income | 114 | 111 | 2.7 | % | 342 | 309 | 10.7 | % | ||||||||||||||||
Total Non Interest Income | 172 | 167 | 3.0 | % | 524 | 478 | 9.6 | % | ||||||||||||||||
Salaries and benefits expense | 1,290 | 1,127 | 14.5 | % | 3,385 | 3,166 | 6.9 | % | ||||||||||||||||
Occupancy and equipment expense | 163 | 121 | 34.7 | % | 383 | 359 | 6.7 | % | ||||||||||||||||
Other expense | 495 | 430 | 15.1 | % | 1,631 | 1,340 | 21.7 | % | ||||||||||||||||
Total Non Interest Expense | 1,948 | 1,678 | 16.1 | % | 5,399 | 4,865 | 11.0 | % | ||||||||||||||||
Pretax pre-provision income | 2,205 | 2,031 | 8.6 | % | 6,055 | 6,340 | -4.5 | % | ||||||||||||||||
Gain on sale of securities | (19 | ) | 0 | N/M | (19 | ) | 0 | N/M | ||||||||||||||||
Provision for Loan Losses | 0 | 290 | -100.0 | % | 0 | 1,390 | -100.0 | % | ||||||||||||||||
Earnings before income taxes | 2,186 | 1,741 | 25.6 | % | 6,036 | 4,950 | 21.9 | % | ||||||||||||||||
Provision for income taxes | 320 | 265 | N/M | 880 | 720 | 22.2 | % | |||||||||||||||||
Net Earnings | $ | 1,866 | $ | 1,476 | 26.4 | % | $ | 5,156 | $ | 4,230 | 21.9 | % | ||||||||||||
Basic earnings per share | 1.71 | 1.36 | 25.5 | % | 4.72 | 3.91 | 20.9 | % | ||||||||||||||||
Basic weighted average shares | 1,094 | 1,086 | 1,092 | 1,083 | ||||||||||||||||||||
outstanding | ||||||||||||||||||||||||
Diluted earnings per share - estimate | 1.64 | 1.30 | 25.5 | % | 4.53 | 3.75 | 20.8 | % | ||||||||||||||||
Diluted weighted average shares outstanding | 1,140 | 1,132 | 1,138 | 1,129 | ||||||||||||||||||||
| Average for Quarter | Average for Nine Months | |||||||||||||||||||||||
| September 30 | % | September 30 | ||||||||||||||||||||||
BALANCE SHEET SUMMARY | 2022 | 2021 | Change | 2022 | 2021 | Change | ||||||||||||||||||
Total loans | $ | 266,041 | $ | 249,471 | 6.6 | % | $ | 255,376 | $ | 257,795 | -0.9 | % | ||||||||||||
Total short term investments | 50,091 | 26,122 | 91.8 | % | 36,569 | 22,017 | 66.1 | % | ||||||||||||||||
Total investment securities | 143,746 | 113,914 | 26.2 | % | 142,937 | 101,540 | 40.8 | % | ||||||||||||||||
Earning assets | 459,878 | 389,507 | 18.1 | % | 434,882 | 381,352 | 14.0 | % | ||||||||||||||||
Total assets | 467,859 | 395,762 | 18.2 | % | 442,387 | 387,645 | 14.1 | % | ||||||||||||||||
Noninterest bearing deposits | 177,293 | 143,056 | 23.9 | % | 165,891 | 140,044 | 18.5 | % | ||||||||||||||||
Interest bearing deposits | 246,907 | 207,369 | 19.1 | % | 232,636 | 203,647 | 14.2 | % | ||||||||||||||||
Total deposits | 424,200 | 350,425 | 21.1 | % | 398,527 | 343,691 | 16.0 | % | ||||||||||||||||
Fed Funds Purchased and Repurchase Agreements | 0 | 0 | N/M | 0 | 81 | N/M | ||||||||||||||||||
Shareholders' equity | $ | 46,676 | $ | 41,723 | 11.9 | % | $ | 45,217 | $ | 40,390 | 12.0 | % | ||||||||||||
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 | 2022 | 2022 | 2022 | 2021 | 2021 | |||||||||||||||
Total loans | $ | 266,041 | $ | 255,951 | $ | 240,831 | $ | 236,698 | $ | 222,400 | ||||||||||
Total PPP loans | 0 | $ | 0 | 3,062 | 11,585 | 27,071 | ||||||||||||||
Total short term investments | 50,091 | 30,993 | 28,809 | 33,497 | 26,122 | |||||||||||||||
Total investment securities | 143,746 | 142,743 | 142,717 | 128,283 | 113,914 | |||||||||||||||
Earning assets | 459,878 | 429,687 | 415,419 | 410,063 | 389,507 | |||||||||||||||
Total assets | 467,859 | 437,237 | 421,711 | 416,766 | 395,762 | |||||||||||||||
Noninterest bearing deposits | 177,293 | 164,965 | 154,029 | 170,822 | 143,056 | |||||||||||||||
Interest bearing deposits | 246,907 | 229,986 | 221,868 | 215,287 | 207,369 | |||||||||||||||
Total deposits | 424,200 | 394,951 | 375,897 | 386,109 | 350,425 | |||||||||||||||
Fed Funds Purchased and Repurchase Agreements | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
Shareholders' equity | $ | 46,676 | $ | 45,059 | $ | 44,456 | $ | 43,113 | $ | 41,723 | ||||||||||
| Quarter Ended | ||||||||||||||||||||
| Sept. 30, | June 30, | March 31, | Dec 31, | Sept. 30, | ||||||||||||||||
HISTORICAL EARNINGS SUMMARY | 2022 | 2022 | 2022 | 2021 | 2021 | |||||||||||||||
Interest income less PPP | $ | 4,588 | $ | 3,763 | $ | 3,321 | $ | 3,302 | $ | 3,162 | ||||||||||
PPP interest and fees | 0 | 0 | 278 | 245 | 530 | |||||||||||||||
Interest expense | 607 | 248 | 165 | 159 | 150 | |||||||||||||||
Net Interest Income | 3,981 | 3,515 | 3,434 | 3,388 | 3,542 | |||||||||||||||
Service charges on deposits | 58 | 62 | 59 | 58 | 56 | |||||||||||||||
Other income | 114 | 126 | 106 | 108 | 111 | |||||||||||||||
Total Non Interest Income | 172 | 188 | 165 | 166 | 167 | |||||||||||||||
Salaries and benefits expense | 1,290 | 1,096 | 999 | 1,009 | 1,127 | |||||||||||||||
Occupancy and equipment expense | 163 | 111 | 110 | 108 | 121 | |||||||||||||||
Other expense | 495 | 536 | 600 | 540 | 430 | |||||||||||||||
Total Non Interest Expense | 1,948 | 1,743 | 1,709 | 1,657 | 1,678 | |||||||||||||||
Pretax pre-provision income | 2,205 | 1,960 | 1,890 | 1,897 | 2,031 | |||||||||||||||
Gain on sale of securities | (19 | ) | 0 | 0 | 0 | 0 | ||||||||||||||
Gain on sale of foreclosed assets | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
Gain on sale of other assets | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
Provision for Loan Losses | 0 | 0 | 0 | 0 | 290 | |||||||||||||||
Earnings before income taxes | 2,186 | 1,960 | 1,890 | 1,897 | 1,741 | |||||||||||||||
Provision for income taxes | 320 | 280 | 280 | 305 | 265 | |||||||||||||||
Net Earnings | $ | 1,866 | $ | 1,680 | $ | 1,610 | $ | 1,592 | $ | 1,476 | ||||||||||
Diluted earnings per share | $ | 1.64 | $ | 1.47 | $ | 1.42 | $ | 1.41 | $ | 1.30 | ||||||||||
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 | 2022 | 2022 | 2022 | 2021 | 2021 | |||||||||||||||
Total loans | $ | 265,811 | $ | 267,163 | $ | 247,358 | $ | 240,283 | $ | 228,976 | ||||||||||
Total PPP loans | 0 | - | - | 9,380 | 20,911 | |||||||||||||||
Total short term investments | 58,084 | 19,635 | 39,776 | 41,153 | 34,818 | |||||||||||||||
Total investment securities | 136,114 | 142,834 | 138,793 | 137,387 | 117,844 | |||||||||||||||
Total earning assets | 460,009 | 429,632 | 425,927 | 428,203 | 402,549 | |||||||||||||||
Allowance for loan losses | (4,314 | ) | (4,314 | ) | (4,314 | ) | (4,306 | ) | (4,306 | ) | ||||||||||
Premises and equipment | 1,976 | 2,019 | 2,065 | 2,118 | 2,179 | |||||||||||||||
Other Assets | 11,957 | 11,260 | 10,557 | 5,802 | 6,803 | |||||||||||||||
Total assets | 469,628 | 438,597 | 434,235 | 431,817 | 407,225 | |||||||||||||||
Noninterest bearing deposits | 181,436 | 170,661 | 158,072 | 167,497 | 148,238 | |||||||||||||||
Interest bearing deposits | 248,475 | 226,141 | 233,142 | 218,611 | 214,162 | |||||||||||||||
Total deposits | 429,911 | 396,802 | 391,214 | 386,108 | 362,400 | |||||||||||||||
Fed Funds Purchased and Repurchase Agreements | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
Other Liabilities | 2,794 | 1,474 | 2,033 | 1,181 | 1,834 | |||||||||||||||
Total liabilities | 432,705 | 398,276 | 393,247 | 387,289 | 364,234 | |||||||||||||||
Shareholders' Equity Actual | 46,712 | 45,830 | 44,093 | 43,113 | 41,465 | |||||||||||||||
Unrealized Gain/Loss - AFS | (9,789 | ) | (5,509 | ) | (3,105 | ) | 1,415 | 1,526 | ||||||||||||
Total Equity | $ | 36,923 | $ | 40,321 | $ | 40,988 | $ | 44,528 | $ | 42,991 | ||||||||||
| Quarter Ending | ||||||||||||||||||||
| Sept. 30, | June 30, | March 31, | Dec 31, | Sept. 30, | ||||||||||||||||
NONPERFORMING ASSETS | 2022 | 2022 | 2022 | 2021 | 2021 | |||||||||||||||
Nonaccrual loans | $ | 195 | $ | 211 | $ | 239 | $ | 259 | $ | 279 | ||||||||||
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 | $ | 195 | $ | 211 | $ | 239 | $ | 259 | $ | 279 | ||||||||||
Accruing loans past due 30-89 days | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 600 | ||||||||||
Total nonperforming assets as a percentage | ||||||||||||||||||||
of loans and foreclosed assets | 0.07 | % | 0.08 | % | 0.10 | % | 0.11 | % | 0.12 | % | ||||||||||
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 | 2022 | 2022 | 2022 | 2021 | 2021 | |||||||||||||||
Balance at beginning of period | $ | 4,314 | $ | 4,314 | $ | 4,306 | $ | 4,306 | $ | 4,016 | ||||||||||
Loans charged off | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
Loan recoveries | 0 | 0 | 8 | 0 | 0 | |||||||||||||||
Net (charge-offs) recoveries | 0 | 0 | 8 | 0 | 0 | |||||||||||||||
Provision for loan losses | 0 | 0 | 0 | 0 | 290 | |||||||||||||||
Balance at end of period | $ | 4,314 | $ | 4,314 | $ | 4,314 | $ | 4,306 | $ | 4,306 | ||||||||||
Allowance for loan losses | 1.62 | % | 1.61 | % | 1.74 | % | 1.72 | % | 1.88 | % | ||||||||||
as a percentage of total loans | ||||||||||||||||||||
Allowance for loan losses net of PPP Loans | 1.62 | % | 1.61 | % | 1.74 | % | 1.79 | % | 1.94 | % | ||||||||||
as a percentage of total loans | ||||||||||||||||||||
Allowance for loan losses | 2212 | % | 2045 | % | 1805 | % | 1663 | % | 1543 | % | ||||||||||
as a percentage of nonperforming assets | ||||||||||||||||||||
Net charge-offs (recoveries) as a | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||
percentage of average loans | ||||||||||||||||||||
Provision for loan losses | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.13 | % | ||||||||||
as a percentage of average loans | ||||||||||||||||||||
| Quarter Ending | ||||||||||||||||||||
| Sept. 30, | June 30, | March 31, | Dec 31, | Sept. 30, | ||||||||||||||||
SELECTED RATIOS | 2022 | 2022 | 2022 | 2021 | 2021 | |||||||||||||||
Return on average assets (annualized) | 1.60 | % | 1.54 | % | 1.53 | % | 1.53 | % | 1.49 | % | ||||||||||
Return on average equity (annualized) | 17.68 | % | 15.92 | % | 15.71 | % | 14.60 | % | 13.50 | % | ||||||||||
Return on average equity (excluding unrealized gain on investments) | 15.99 | % | 14.91 | % | 14.61 | % | 15.06 | % | 14.15 | % | ||||||||||
Average shareholders' equity to average assets | 9.98 | % | 10.31 | % | 10.54 | % | 10.34 | % | 10.54 | % | ||||||||||
Yield on earning assets (tax equivalent) | 4.17 | % | 3.68 | % | 3.64 | % | 3.95 | % | 3.97 | % | ||||||||||
Effective Cost of Funds | 0.53 | % | 0.23 | % | 0.16 | % | 0.15 | % | 0.16 | % | ||||||||||
Net interest margin (tax equivalent) | 3.64 | % | 3.45 | % | 3.48 | % | 3.80 | % | 3.81 | % | ||||||||||
Efficiency ratio (tax equivalent) | 44.7 | % | 44.9 | % | 45.2 | % | 44.5 | % | 43.3 | % | ||||||||||
End of period book value per common share | $ | 33.78 | $ | 36.89 | $ | 37.50 | $ | 41.12 | $ | 39.66 | ||||||||||
End of period book value (excluding unrealized gain on investments) | $ | 42.74 | $ | 41.93 | $ | 40.34 | $ | 39.81 | $ | 38.25 | ||||||||||
End of period common shares outstanding (in 000's) | 1,093 | 1,093 | 1,093 | 1,083 | 1,084 | |||||||||||||||
TRINITY BANK N.A.
(Unaudited)
(Dollars in thousands, except per share data)
| Quarter Ending | ||||||||||||||||||||||||||||||||
| September 30, 2022 | September 30, 2021 | |||||||||||||||||||||||||||||||
YIELD ANALYSIS | Average Balance | Interest | Yield | Tax Equivalent Yield | Average Balance | Interest | Yield | Tax Equivalent Yield | ||||||||||||||||||||||||
Interest Earning Assets: | ||||||||||||||||||||||||||||||||
Short term investment | $ | 50,091 | 297 | 2.37 | % | 2.37 | % | $ | 25,716 | 13 | 0.20 | % | 0.20 | % | ||||||||||||||||||
FRB Stock | 425 | 6 | 6.00 | % | 6.00 | % | 406 | 6 | 6.00 | % | 6.00 | % | ||||||||||||||||||||
Taxable securities | 0 | 0 | 0.00 | % | 0.00 | % | 423 | 0 | 0.00 | % | 0.00 | % | ||||||||||||||||||||
Tax Free securities | 143,746 | 781 | 2.17 | % | 2.75 | % | 113,491 | 640 | 2.26 | % | 2.86 | % | ||||||||||||||||||||
Loans | 266,041 | 3,504 | 5.27 | % | 5.27 | % | 249,472 | 3,033 | 4.86 | % | 4.86 | % | ||||||||||||||||||||
Total Interest Earning Assets | 460,303 | 4,588 | 3.99 | % | 4.17 | % | 389,508 | 3,692 | 3.79 | % | 3.97 | % | ||||||||||||||||||||
Noninterest Earning Assets: | ||||||||||||||||||||||||||||||||
Cash and due from banks | 5,446 | 5,481 | ||||||||||||||||||||||||||||||
Other assets | 6,423 | 4,915 | ||||||||||||||||||||||||||||||
Allowance for loan losses | (4,314 | ) | (4,142 | ) | ||||||||||||||||||||||||||||
Total Noninterest Earning Assets | 7,555 | 6,254 | ||||||||||||||||||||||||||||||
Total Assets | $ | 467,858 | $ | 395,762 | ||||||||||||||||||||||||||||
Interest Bearing Liabilities: | ||||||||||||||||||||||||||||||||
Transaction and Money Market accounts | 184,600 | 418 | 0.91 | % | 0.91 | % | 156,631 | 95 | 0.24 | % | 0.24 | % | ||||||||||||||||||||
Certificates and other time deposits | 38,057 | 105 | 1.10 | % | 1.10 | % | 40,738 | 42 | 0.41 | % | 0.41 | % | ||||||||||||||||||||
Other borrowings | 24,209 | 84 | 1.39 | % | 1.39 | % | 10,000 | 13 | 0.52 | % | 0.52 | % | ||||||||||||||||||||
Total Interest Bearing Liabilities | 246,866 | 607 | 0.98 | % | 0.98 | % | 207,369 | 150 | 0.29 | % | 0.29 | % | ||||||||||||||||||||
Noninterest Bearing Liabilities: | ||||||||||||||||||||||||||||||||
Demand deposits | 177,334 | 143,056 | ||||||||||||||||||||||||||||||
Other liabilities | 1,733 | 1,607 | ||||||||||||||||||||||||||||||
Shareholders' Equity | 41,925 | 43,730 | ||||||||||||||||||||||||||||||
Total Liabilities and Shareholders Equity | $ | 467,858 | $ | 395,762 | ||||||||||||||||||||||||||||
Net Interest Income and Spread | 3,981 | 3.00 | % | 3.18 | % | 3,542 | 3.50 | % | 3.68 | % | ||||||||||||||||||||||
Net Interest Margin | 3.46 | % | 3.64 | % | 3.64 | % | 3.81 | % | ||||||||||||||||||||||||
TRINITY BANK N.A.
(Unaudited)
(Dollars in thousands, except per share data)
| September 30 | September 30 | |||||||||||||||
| 2022 | % | 2021 | % | |||||||||||||
LOAN PORTFOLIO | ||||||||||||||||
Commercial and industrial | $ | 151,265 | 56.83 | % | $ | 142,909 | 57.19 | % | ||||||||
Real estate: | ||||||||||||||||
Commercial | 74,212 | 27.88 | % | 63,791 | 25.53 | % | ||||||||||
Residential | 18,006 | 6.76 | % | 19,101 | 7.64 | % | ||||||||||
Construction and development | 22,211 | 8.34 | % | 23,730 | 9.50 | % | ||||||||||
Consumer | 489 | 0.18 | % | 356 | 0.14 | % | ||||||||||
Total loans (gross) | 266,183 | 100.00 | % | 249,887 | 100.00 | % | ||||||||||
Unearned discounts | 0 | 0.00 | % | 0 | 0.00 | % | ||||||||||
Total loans (net) | $ | 266,183 | 100.00 | % | $ | 249,887 | 100.00 | % | ||||||||
| September 30 | September 30 | |||||||
| 2022 | 2021 | |||||||
REGULATORY CAPITAL DATA | ||||||||
Tier 1 Capital | $ | 46,711 | $ | 41,464 | ||||
Total Capital (Tier 1 + Tier 2) | $ | 50,426 | $ | 44,640 | ||||
Total Risk-Adjusted Assets | $ | 296,615 | $ | 252,968 | ||||
Tier 1 Risk-Based Capital Ratio | 15.75 | % | 16.39 | % | ||||
Total Risk-Based Capital Ratio | 17.00 | % | 17.65 | % | ||||
Tier 1 Leverage Ratio | 9.98 | % | 10.48 | % | ||||
OTHER DATA | ||||||||
Full Time Equivalent | ||||||||
Employees (FTE's) | 25 | 22 | ||||||
Stock Price Range | ||||||||
(For the Three Months Ended): | ||||||||
High | $ | 90.00 | $ | 75.00 | ||||
Low | $ | 85.00 | $ | 73.50 | ||||
Close | $ | 87.00 | $ | 75.00 | ||||
Trinity Bank third quarter 2022 earnings
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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