FORT WORTH, Texas, Feb. 8, 2011 (GLOBE NEWSWIRE) -- Trinity Bank N.A. (OTCBB:TYBT) today announced financial and operating results for the fourth quarter and for the twelve months ended December 31, 2010.
Results of Operations
Trinity Bank, N.A. reported Net Income After Taxes for the fourth quarter of $525,279, or $.46 per diluted common share, compared to $442,291, or $.38 per diluted common share for the fourth quarter of 2009, an increase of 21.1%.
For the year 2010, Net Income After Taxes amounted to $2,004,875, or $1.74 per diluted common share, compared to $1,636,286, or $1.40 per diluted common share for 2009, an increase of 24.3%.
Jeffrey M. Harp, President, stated, "Operating results for the fourth quarter of 2010 represent our 25th consecutive quarter of increased profit. We continue to improve the return on the bank's assets and the return on the shareholder's investment. We look forward to facing the challenge of 2011 and maintaining our record of improving Trinity Bank's performance each year."
Trinity Bank, N.A. is a commercial bank that began operations May 28, 2003 with the largest initial capital ever raised by a Tarrant County bank. For a full financial statement, visit Trinity Bank's website: 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.
CONTACT: Richard Burt Executive Vice President Trinity Bank 817-763-9966