Trinity Bank 2012 2nd Quarter Profits Up 15.4%; 2nd Quarter Earnings per Share Up 16.3%; 31st Consecutive Quarter of Profit Improvement

Marketwired

FORT WORTH, TX--(Marketwire -07/23/12)- Trinity Bank N.A. (TYBT) today announced operating results for the second quarter and the six months ending June 30, 2012.

Results of Operations

For the second quarter of 2012, Trinity Bank, N.A. reported Net Income after Taxes of $644,000, an increase of 15.4% over second quarter 2011 earnings of $558,000. Earnings per diluted common share for the second quarter 2012 amounted to $.57, an increase of 16.3% over second quarter 2011 results of $.49 per diluted common share.

For the first six months of 2012, Net Income after Taxes was $1,265,000, an increase of 15.3% over the first half of 2011 results of $1,097,000. Earnings per diluted common share for the first half of 2012 were $1.12, an increase of 15.5% over the first half of 2011 results of $.97 per diluted common share.

Jeffrey M. Harp, President, stated, "2012's second quarter results maintained our record of improving performance each quarter. A 16% increase in average loans outstanding offset a continuing decline in the investment income from our securities portfolio.

"I am pleased to announce that at the end of June, Doug Dowd has joined the Trinity Bank staff as Vice-President of Commercial Lending. Doug comes to us from a local competitor. We look forward to his contribution to our operating results.

"Also, on July 11, 2012, Trinity Bank was notified that it has received a financial strength rating of A or Excellent from Weiss Ratings, the nation's lending independent provider of ratings and analyses of financial services companies. Fewer than 2% of the 19,000 institutions in the nation meet Weiss Ratings' criteria for exceptional financial strength."

 

TRINITY BANK 2012

Actual for Quarter Ending

3 Months 3 Months

(in 000's) 6-30-12 6-30-11 %
--------- --------- -----

Net Income $ 644 $ 558 15.4%
Diluted Earnings per Share $ 0.57 $ 0.49 16.3%
Diluted Weighted Average Shares 1,136 1,133

Actual for Six Months Ending

6 Months 6 Months

(in 000's) 6-30-12 6-30-11 %
--------- --------- -----

Net Income $ 1,265 $ 1,097 15.3%
Diluted Earnings per Share $ 1.12 $ .97 15.5%
Diluted Weighted Average Shares 1,125 1,131

Return on Assets 1.54% 1.46%
Return on Equity 13.59% 13.11%

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 Six Months Ended
June 30 % June 30 %
EARNINGS SUMMARY 2012 2011 Change 2012 2011 Change

Interest income 1,554 1,426 9.0% 3,069 2,900 5.8%
Interest expense 151 217 -30.4% 312 443 -29.6%
Net Interest Income 1,403 1,209 16.0% 2,757 2,457 12.2%

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

Service charges on
deposits 28 29 -3.4% 65 66 -1.5%
Net gain on
securities
available for sale 0 28 -100.0% 17 57 -70.2%
Other income 72 78 -7.7% 131 140 -6.4%
Total Non Interest
Income 100 135 -25.9% 213 263 -19.0%

Salaries and
benefits expense 309 312 -1.0% 640 652 -1.8%
Occupancy and
equipment expense 76 79 -3.8% 150 154 -2.6%
Other expense 252 218 15.6% 489 478 2.3%
Total Non Interest
Expense 637 609 4.6% 1,279 1,284 -0.4%

Earnings before
income taxes 866 735 17.8% 1,691 1,436 17.8%
Provision for income
taxes 222 177 25.4% 426 339 25.7%
Net Earnings 644 558 15.4% 1,265 1,097 15.3%

Basic earnings per
share 0.59 0.52 13.5% 1.19 1.03 15.5%
Basic weighted
average shares
outstanding 1,078 1,072 1,067 1,070

Diluted earnings per
share 0.57 0.49 16.3% 1.12 0.97 15.5%
Diluted weighted
average shares
outstanding 1,136 1,133 1,125 1,131


Average for Quarter Average for Six Months
Ending June 30 % Ending June 30 %
BALANCE SHEET SUMMARY 2012 2011 Change 2012 2011 Change

Total loans $ 83,133 $ 71,676 16.0% $ 82,134 $ 71,391 15.0%
Total short term
investments 16,955 21,929 -22.7% 17,725 19,025 -6.8%
Total investment
securities 58,031 50,714 14.4% 57,740 53,681 7.6%

Earning assets 158,119 144,319 9.6% 157,599 144,097 9.4%

Total assets 164,933 152,633 8.1% 164,343 152,020 8.1%

Noninterest bearing
deposits 31,337 25,176 24.5% 30,567 24,644 24.0%
Interest bearing
deposits 112,538 108,696 3.5% 112,904 108,932 3.6%

Total deposits 143,875 133,872 7.5% 143,471 133,576 7.4%

Fed Funds Purchased
and Repurchase
Agreements 251 438 -42.7% 351 609 -42.4%

Shareholders' equity 19,962 17,687 12.9% 19,689 17,331 13.6%




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

Average for Quarter Ending
June 30, March 31, Dec 31, Sept. 30, June 30,
BALANCE SHEET SUMMARY 2012 2012 2011 2011 2011

Total loans $ 83,133 $ 81,136 $ 76,426 $ 74,941 $ 71,676
Total short term
investments 16,955 18,495 26,760 21,204 21,929
Total investment
securities 58,031 57,451 56,751 51,908 50,714

Earning assets 158,119 157,082 159,937 148,053 144,319

Total assets 164,933 163,755 166,392 154,363 152,633

Noninterest bearing
deposits 31,337 29,804 32,552 27,706 25,176
Interest bearing deposits 112,538 113,263 113,758 107,061 108,696

Total deposits 143,875 143,067 146,310 134,767 133,872

Fed Funds Purchased and
Repurchase Agreements 251 450 584 411 438

Shareholders' equity 19,962 19,416 18,690 18,401 17,687


Quarter Ended
June 30, March 31, Dec 31, Sept. 30, June 30,
HISTORICAL EARNINGS SUMMARY 2012 2012 2011 2011 2011

Interest income 1,554 1,514 1,509 1,471 1,426
Interest expense 151 161 199 203 217
Net Interest Income 1,403 1,353 1,310 1,268 1,209

Provision for Loan Losses 0 0 0 0 0

Service charges on
deposits 28 37 37 35 29
Net gain on securities
available for sale 0 17 18 40 28
Other income 72 59 55 92 78
Total Non Interest Income 100 113 110 167 135

Salaries and benefits
expense 309 331 450 317 312
Occupancy and equipment
expense 76 74 81 82 79
FDIC expense 14 14 45 45 45
Other expense 238 223 45 226 173
Total Non Interest Expense 637 642 621 670 609

Earnings before income
taxes 866 824 799 765 735
Provision for income taxes 222 203 194 185 177
Net Earnings 644 621 605 580 558




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

Ending Balance
June 30, March 31, Dec 31, Sept. 30, June 30,
HISTORICAL BALANCE SHEET 2012 2012 2011 2011 2011

Total loans $ 83,510 $ 84,808 $ 81,272 $ 76,180 $ 74,822
Total short term
investments 16,923 18,681 19,279 27,716 17,404
Total investment
securities 61,625 56,640 58,540 53,370 51,982

Total earning assets 162,058 160,129 159,091 157,266 144,208

Allowance for loan
losses (1,371) (1,371) (1,371) (1,371) (1,371)
Premises and equipment 1,340 1,368 1,378 1,413 1,404
Other Assets 6,469 6,706 7,843 6,209 5,850

Total assets 168,496 166,832 166,941 163,517 150,091

Noninterest bearing
deposits 33,721 32,239 34,203 33,733 24,208
Interest bearing
deposits 113,377 114,268 112,163 109,722 106,761

Total deposits 147,098 146,507 146,366 143,455 130,969

Fed Funds Purchased and
Repurchase Agreements 294 203 713 398 292
Other Liabilities 809 898 792 896 690

Total liabilities 148,201 147,608 147,871 144,749 131,951

Shareholders' Equity
Actual 19,244 18,368 18,025 17,667 17,306
Unrealized Gain - AFS 1,051 856 1,045 1,100 834
Total Equity 20,295 19,224 19,070 18,767 18,140


Quarter Ending
June 30, March 31, Dec 31, Sept. 30, June 30,
NONPERFORMING ASSETS 2012 2012 2011 2011 2011

Nonaccrual loans $ 528 $ 221 $ 653 $ 735 $ 850
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 $ 528 $ 221 $ 653 $ 735 $ 850

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

Total nonperforming
assets as a percentage
of loans and foreclosed
assets 0.63% 0.26% 0.80% 0.96% 1.12%




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

Quarter Ending
ALLOWANCE FOR June 30, March 31, Dec 31, Sept. 30, June 30,
LOAN LOSSES 2012 2012 2011 2011 2011

Balance at beginning of
period $ 1,371 $ 1,371 $ 1,371 $ 1,371 $ 1,371
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 0
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 1.64% 1.62% 1.69% 1.80% 1.80%
Allowance for loan
losses as a percentage
of nonperforming loans 259.66% 620.36% 209.95% 186.53% 186.53%
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 N/A



Quarter Ending
June 30, March 31, Dec 31, Sept. 30, June 30,
SELECTED RATIOS 2012 2012 2011 2011 2011

Return on average assets
(annualized) 1.56% 1.52% 1.45% 1.50% 1.46%

Return on average equity
(annualized) 12.90% 12.79% 12.95% 12.61% 12.62%

Return on average equity
(excluding unrealized
gain on investments) 13.61% 13.56% 13.62% 13.26% 13.11%

Average shareholders'
equity to average
assets 12.10% 11.86% 11.23% 11.92% 11.59%

Yield on earning assets
(tax equivalent) 4.19% 4.14% 4.05% 4.26% 4.24%

Cost of interest bearing
funds 0.54% 0.57% 0.70% 0.76% 0.80%

Net interest margin (tax
equivalent) 3.81% 3.73% 3.56% 3.72% 3.64%

Efficiency ratio (tax
equivalent) 39.59 40.71 40.55 43.42 42.29

End of period book value
per common share 18.79 18.20 18.05 17.60 17.51

End of period book value
(excluding unrealized
gain on investments) 17.82 17.39 17.07 16.57 16.48

End of period common
shares outstanding 1,080 1,056 1,056 1,066 1,072




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

3 Months Ending
June 30, 2012

Tax
Average Equivalent
YIELD ANALYSIS Balance Interest Yield Yield

Interest Earning Assets:
Short term investment 16,955 22 0.52% 0.52%
Investment securities 18,645 178 3.82% 3.82%
Tax Free securities 39,386 235 2.39% 3.44%
Loans 83,133 1,119 5.38% 5.38%

Total Interest Earning Assets 158,119 1,554 3.93% 4.19%

Noninterest Earning Assets:
Cash and due from banks 3,794
Other assets 4,391
Allowance for loan losses (1,371)

Total Noninterest Earning Assets 6,814

Total Assets $164,933

Interest Bearing Liabilities:
Transaction and Money Market accounts 83,870 96 0.46% 0.46%
Certificates and other time deposits 28,668 54 0.75% 0.75%
Other borrowings 251 1 1.59% 1.59%

Total Interest Bearing Liabilities 112,789 151 0.54% 0.54%

Noninterest Bearing Liabilities
Demand deposits 31,337
Other liabilities 845
Shareholders' Equity 19,962

Total Liabilities and Shareholders
Equity $164,933

Net Interest Income and Spread 1,403 3.40% 3.66%

Net Interest Margin 3.55% 3.81%


3 Months Ending
June 30, 2011

Tax
Average Equivalent
YIELD ANALYSIS Balance Interest Yield Yield

Interest Earning Assets:
Short term investment 21,929 33 0.60% 0.60%
Investment securities 17,680 202 4.57% 4.57%
Tax Free securities 33,034 238 2.88% 4.15%
Loans 71,676 953 5.32% 5.32%

Total Interest Earning Assets 144,319 1,426 3.95% 4.24%

Noninterest Earning Assets:
Cash and due from banks 5,590
Other assets 4,095
Allowance for loan losses (1,371)

Total Noninterest Earning Assets 8,314

Total Assets $152,633

Interest Bearing Liabilities:
Transaction and Money Market accounts 79,397 144 0.73% 0.73%
Certificates and other time deposits 29,300 73 0.99% 0.99%
Other borrowings 438 1 0.46% 0.46%

Total Interest Bearing Liabilities 109,135 217 0.80% 0.80%

Noninterest Bearing Liabilities
Demand deposits 25,176
Other liabilities 635
Shareholders' Equity 17,687

Total Liabilities and Shareholders
Equity $152,633

Net Interest Income and Spread 1,209 3.16% 3.45%

Net Interest Margin 3.35% 3.64%




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

June 30 June 30
2012 % 2011 %
LOAN PORTFOLIO

Commercial and industrial 41,715 49.95% 35,199 47.04%
Real estate:
Commercial 16,982 20.34% 13,243 17.70%
Residential 15,769 18.88% 14,634 19.56%
Construction and development 6,661 7.98% 10,148 13.56%
Consumer 2,383 2.85% 1,598 2.14%

Total loans (gross) 83,510 100.00% 74,822 100.00%

Unearned discounts 0 0.00% 0 0.00%

Total loans (net) 83,510 100.00% 74,822 100.00%


June 30 June 30
2012 2011
REGULATORY CAPITAL DATA
Tier 1 Capital $ 19,244 $ 17,306
Total Capital (Tier 1 + Tier 2) $ 20,615 $ 18,524
Total Risk-Weighted Assets $ 111,063 $ 97,307
Tier 1 Ratio 17.33% 17.78%
Total Capital Ratio 18.56% 19.04%
Tier 1 Leverage Ratio 11.69% 11.37%

OTHER DATA
Full Time Equivalent Employees (FTE's) 13 14

Stock Price Range
(For the Three Months Ended):
High $ 30.00 $ 26.00
Low $ 25.13 $ 25.50
Close $ 30.00 $ 26.00



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

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