Trinity Bank 2011 Net Income up 13.8%

2011 Earnings per Share up 16.1%; Eighth Consecutive Year of Improved Profitability

Marketwired

FORT WORTH, TX--(Marketwire -01/30/12)- Trinity Bank, N.A. (OTC.BB: TYBT.OB - News) today announced financial and operating results for the fourth quarter and for the twelve months ended December 31, 2011.

Results of Operations

Trinity Bank, N.A. reported Net Income After Taxes for the fourth quarter of $605,157.56, or $.54 per diluted common share, compared to $525,279, or $.46 per diluted common share for the fourth quarter of 2010, an increase of 17.4%.

For the year 2011, Net Income After Taxes amounted to $2,282,024, or $2.02 per diluted common share, compared to $2,004,875, or $1.74 per diluted common share for 2010, an increase of 16.1%.

Jeffrey M. Harp, President, stated, "Operating results for the fourth quarter of 2011 represent our 29th consecutive quarter of increased profit. We continue to improve the return on the bank's assets and the return on the shareholder's investment. While 2011 was a challenging year, 2012 is shaping up to be equally demanding. However, we look forward to maintaining our record of improving Trinity Bank's performance each year."

 

                                                 For Year Ending
                             -------------------------------------------------------

                                2011           2010         2009       2008     2007
                             ----------     ----------     -----      -----     ----
Return on Assets                   1.46%          1.30%     1.12%      1.11%    0.96%

Return on Equity
(excluding unrealized gain        13.22%         12.57%    11.33%     10.80%    8.88%
on securities)

Average for Year Ending

                              12-31-11       12-31-10
                             ----------     ----------
Loans                        $   73,556     $   72,786        1.1%
Deposits                     $  137,086     $  133,850        2.4%
Actual for Year Ending

Net Interest Income          $    5,034     $    4,891        2.9%
Non-Interest Income          $      540     $      585       (7.7%)
Non-Interest Expense         $    2,573     $    2,522        2.0%
Loan Loss Provision          $        0     $      285          -
Pre Tax Income               $    3,001     $    2,669       12.4%

Income Tax                   $      719     $      664        8.3%

Net Income                   $    2,282     $    2,005       13.8%



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 click on "About Us" and then click on "Investor Information." Financial information in 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             Twelve Months Ended
                       December 31        %         December 31        %
EARNINGS SUMMARY      2011      2010    Change     2011      2010    Change

Interest income        1,509     1,516    -0.5%     5,879     6,081    -3.3%
Interest expense         199       270   -26.3%       845     1,190   -29.0%
Net Interest
 Income                1,310     1,246     5.1%     5,034     4,891     2.9%

Provision for Loan
 Losses                    0       150     N/A          0       285     N/A

Service charges on
 deposits                 37        34     8.8%       147       145     1.4%
Net gain on
 securities
 available for
 sale                     18       153   -88.2%       114       198   -42.4%
Other income              55        55     0.0%       279       242    15.3%
Total Non Interest
 Income                  110       242   -54.5%       540       585    -7.7%

Salaries and
 benefits expense        450       437     3.0%     1,419     1,384     2.5%
Occupancy and
 equipment expense        81        75     8.0%       314       308     1.9%
Other expense             90       136   -33.8%       840       830     1.2%
Total Non Interest
 Expense                 621       648    -4.2%     2,573     2,522     2.0%

Earnings before
 income taxes            799       690    15.8%     3,001     2,669    12.4%
Provision for
 income taxes            194       165    17.6%       719       664     8.3%
Net Earnings             605       525    15.2%     2,282     2,005    13.8%

Basic earnings per
 share                  0.57      0.49    16.3%      2.15      1.83    17.3%
Basic weighted
 average shares
 outstanding           1,059     1,079              1,063     1,098

Diluted earnings
 per share              0.54      0.46    17.4%      2.02      1.74    16.1%
Diluted weighted
 average shares
 outstanding           1,122     1,135              1,127     1,154



                       Average for Quarter       Average for Twelve Months
                    Ending December 31    %      Ending December 31    %
BALANCE SHEET
 SUMMARY                2011      2010  Change       2011      2010  Change

Total loans        $  76,426 $  72,047     6.1% $  73,556 $  72,786     1.1%
Total short term
 investments          26,760    23,496    13.9%    21,500    22,244    -3.3%
Total investment
 securities           56,751    53,988     5.1%    54,003    50,802     6.3%

Earning assets       159,937   149,531     7.0%   149,059   145,832     2.2%

Total assets         166,392   155,868     6.8%   156,233   152,957     2.1%

Noninterest
 bearing deposits     32,552    24,267    34.1%    28,743    23,217    23.8%
Interest bearing
 deposits            113,758   112,540     1.1%   108,343   110,633    -2.1%

Total deposits       146,310   136,807     6.9%   137,086   133,850     2.4%

Fed Funds
 Purchased and
 Repurchase
 Agreements              584       733   -20.3%       503       880   -42.8%

Shareholders'
 equity               18,690    17,382     7.5%    17,943    17,225     4.2%



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


                                       Average for Quarter Ending
                            Dec 31,  Sept. 30,  June 30, March 31,  Dec 31,
BALANCE SHEET SUMMARY         2011      2011      2011      2011      2010

Total loans                $  76,426 $  74,941 $  71,676 $  71,103 $  72,047
Total short term
 investments                  26,760    21,204    21,929    17,742    23,496
Total investment
 securities                   56,751    51,908    50,714    56,684    53,988

Earning assets               159,937   148,053   144,319   145,529   149,531

Total assets                 166,392   154,363   152,633   151,401   155,868

Noninterest bearing
 deposits                     32,552    27,706    25,176    24,123    24,267
Interest bearing deposits    113,758   107,061   108,696   109,154   112,540

Total deposits               146,310   134,767   133,872   133,277   136,807

Fed Funds Purchased and
 Repurchase Agreements           584       411       438       582       733

Shareholders' equity          18,690    18,401    17,687    16,972    17,382


                                             Quarter Ended
                            Dec 31,  Sept. 30,  June 30, March 31,  Dec 31,
HISTORICAL EARNINGS
SUMMARY                       2011      2011      2011      2011      2010


Interest income                1,509     1,471     1,426     1,474     1,516
Interest expense                 199       203       217       226       270
Net Interest Income            1,310     1,268     1,209     1,248     1,246

Provision for Loan Losses          0         0         0         0       150

Service charges on
 deposits                         37        35        29        37        34
Net gain on securities
 available for sale               18        40        28        29       153
Other income                      55        92        78        63        55
Total Non Interest Income        110       167       135       129       242

Salaries and benefits
 expense                         450       317       312       340       437
Occupancy and equipment
 expense                          81        82        79        75        75
FDIC expense                      45        45        45        45        45
Other expense                     45       226       173       215        91
Total Non Interest Expense       621       670       609       675       648

Earnings before income
 taxes                           799       765       735       702       690
Provision for income taxes       194       185       177       163       165
Net Earnings                     605       580       558       539       525



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



                                            Ending Balance
                                       Sept.               March
                            Dec 31,     30,    June 30,     31,     Dec 31,
HISTORICAL BALANCE SHEET     2011      2011      2011      2011      2010

Total loans                $ 81,272  $ 76,180  $ 74,822  $ 71,287  $ 72,460
Total short term
 investments                 19,279    27,716    17,404    25,369    17,886
Total investment
 securities                  58,540    53,370    51,982    53,497    58,583

Total earning assets        159,091   157,266   144,208   150,153   148,929

Allowance for loan losses    (1,371)   (1,371)   (1,371)   (1,371)   (1,371)
Premises and equipment        1,378     1,413     1,404     1,440     1,442
Other Assets                  7,843     6,209     5,850     6,024     4,949

Total assets                166,941   163,517   150,091   156,246   153,949

Noninterest bearing
 deposits                    34,203    33,733    24,208    27,747    26,844
Interest bearing deposits   112,163   109,722   106,761   110,161   109,100

Total deposits              146,366   143,455   130,969   137,908   135,944

Fed Funds Purchased and
 Repurchase Agreements          713       398       292       534       538
Other Liabilities               792       896       690       559       646

Total liabilities           147,871   144,749   131,951   139,001   137,128

Shareholders' Equity
 Actual                      18,025    17,667    17,306    16,715    16,176
Unrealized Gain - AFS         1,045     1,100       834       530       645
  Total Equity               19,070    18,767    18,140    17,245    16,821


                                            Quarter Ending
                                       Sept.               March
                            Dec 31,     30,    June 30,     31,     Dec 31,
NONPERFORMING ASSETS         2011      2011      2011      2011      2010

Nonaccrual loans           $    653  $    735  $    850  $    488  $    831
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 $    653  $    735  $    850  $    488  $    831

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


Total nonperforming assets
 as a percentage of loans
 and foreclosed assets         0.80%     0.96%     1.12%     0.68%     1.15%



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



                                            Quarter Ending
                                       Sept.               March
ALLOWANCE FOR               Dec 31,     30,    June 30,     31,     Dec 31,
LOAN LOSSES                  2011      2011      2011      2011      2010

Balance at beginning of
 period                    $  1,371  $  1,371  $  1,371  $  1,371  $  1,221
Loans charged off                 0         0         0         0         0
Loan recoveries                   0         0         0         0         0
  Net (charge-offs)
   recoveries                     0         0         0         0         0
Provision for loan losses         0         0         0         0       150
Balance at end of period   $  1,371  $  1,371  $  1,371  $  1,371  $  1,371

Allowance for loan losses
 as a percentage of total
 loans                         1.69%     1.80%     1.80%     1.92%     1.89%
Allowance for loan losses
 as a percentage of
 nonperforming loans         209.95%   186.53%   186.53%   280.94%   164.98%
Net charge-offs
 (recoveries) as a
 percentage of average
 loans                          N/A       N/A       N/A       N/A       N/A
Provision for loan losses
 as a percentage of
 average loans                  N/A       N/A       N/A       N/A      0.21%



                                            Quarter Ending
                                       Sept.               March
                            Dec 31,     30,    June 30,     31,     Dec 31,
SELECTED RATIOS              2011      2011      2011      2011      2010

Return on average assets
 (annualized)                  1.45%     1.50%     1.46%     1.42%     1.35%

Return on average equity
 (annualized)                 12.95%    12.61%    12.62%    12.70%    12.08%

Return on average equity
 (excluding unrealized
 gain on investments)         13.62%    13.26%    13.11%    12.90%    12.91%

Average shareholders'
 equity to average assets     11.23%    11.92%    11.59%    11.21%    11.15%

Yield on earning assets
 (tax equivalent)              4.05%     4.26%     4.24%     4.27%     4.32%

Cost of interest bearing
 funds                         0.70%     0.76%     0.80%     0.82%     0.96%

Net interest margin (tax
 equivalent)                   3.56%     3.72%     3.64%     3.65%     3.49%

Efficiency ratio (tax
 equivalent)                  40.55     43.42     42.29     45.45     45.18

End of period book value
 per common share             18.05     17.60     17.51     16.16     15.59

End of period book value
 (excluding unrealized
 gain on investments)         17.07     16.57     16.48     15.67     14.99

End of period common
 shares outstanding           1,056     1,066     1,072     1,067     1,079




 

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



                                              12 Months Ending
                                             December 31, 2011

                                                                   Tax
                                  Average                       Equivalent
YIELD ANALYSIS                    Balance    Interest  Yield      Yield

Interest Earning Assets:
Short term investment               21,500        130    0.60%        0.60%
Investment securities               18,758        828    4.41%        4.41%
Tax Free securities                 35,245        981    2.78%        4.01%
Loans                               73,556      3,940    5.36%        5.36%

Total Interest Earning Assets      149,059      5,879    3.94%        4.23%

Noninterest Earning Assets:
Cash and due from banks              4,344
Other assets                         4,201
Allowance for loan losses           (1,371)

Total Noninterest Earning
 Assets                              7,174

Total Assets                    $  156,233

Interest Bearing Liabilities:
Transaction and Money Market
 accounts                           79,916        549    0.69%        0.69%
Certificates and other time
 deposits                           29,762        294    0.99%        0.99%
Other borrowings                       503          2    0.40%        0.40%

Total Interest Bearing
 Liabilities                       110,181        845    0.77%        0.77%

Noninterest Bearing Liabilities
Demand deposits                     27,408
Other liabilities                      701
Shareholders' Equity                17,943

Total Liabilities and
 Shareholders Equity            $  156,233

Net Interest Income and Spread                  5,034    3.18%        3.47%

Net Interest Margin                                      3.38%        3.67%




                                            12 Months Ending
                                            December 31, 2010

                                                                  Tax
                                 Average                       Equivalent
YIELD ANALYSIS                   Balance    Interest  Yield      Yield

Interest Earning Assets:
Short term investment              22,244        259    1.16%        1.16%
Investment securities              25,694      1,116    4.34%        4.34%
Tax Free securities                25,108        788    3.14%        4.52%
Loans                              72,786      3,918    5.38%        5.38%

Total Interest Earning Assets     145,832      6,081    4.17%        4.42%

Noninterest Earning Assets:
Cash and due from banks             3,127
Other assets                        5,194
Allowance for loan losses          (1,196)

Total Noninterest Earning
 Assets                             7,125

Total Assets                   $  152,957

Interest Bearing Liabilities:
Transaction and Money Market
 accounts                          78,624        734    0.93%        0.93%
Certificates and other time
 deposits                          32,009        450    1.41%        1.41%
Other borrowings                      880          6    0.68%        0.68%

Total Interest Bearing
 Liabilities                      111,513      1,190    1.07%        1.07%

Noninterest Bearing Liabilities
Demand deposits                    23,217
Other liabilities                   1,002
Shareholders' Equity               17,225

Total Liabilities and
 Shareholders Equity           $  152,957

Net Interest Income and Spread                 4,891    3.10%        3.35%

Net Interest Margin                                     3.35%        3.60%



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


                           December 31              December 31
                               2011          %          2010          %
LOAN PORTFOLIO

Commercial and industrial       40,359       49.66%      35,155       48.52%
Real estate:
  Commercial                    13,112       16.13%      14,939       20.62%
  Residential                   16,400       20.18%      12,680       17.50%
  Construction and
   development                   8,947       11.01%       7,839       10.82%
Consumer                         2,454        3.02%       1,847        2.55%

Total loans (gross)             81,272      100.00%      72,460      100.00%

Unearned discounts                   0        0.00%           0        0.00%

Total loans (net)               81,272      100.00%      72,460      100.00%


                           December 31              December 31
                               2011                     2010
REGULATORY CAPITAL DATA
Tier 1 Capital             $    18,025              $    16,176
Total Capital (Tier 1 +
 Tier 2)                   $    19,333              $    17,443
Total Risk-Adjusted Assets $   104,570              $   101,272
Tier 1 Ratio                     17.24%                   15.97%
Total Capital Ratio              18.49%                   17.22%
Tier 1 Leverage Ratio            10.86%                   10.40%

OTHER DATA
Full Time Equivalent
 Employees (FTE's)                  14                       14

Stock Price Range
(For the Three Months
 Ended):
  High                     $     27.00              $     25.50
  Low                      $     24.10              $     21.00
  Close                    $     26.50              $     24.10

Contact:
For information contact:
Richard Burt
Executive Vice President
Trinity Bank
817-763-9966

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