FORT WORTH, TX / ACCESSWIRE / September 24, 2020 / Trinity Bank, N.A. (OTC PINK:TYBT) announced that on September 22, 2020, the Board of Directors declared a cash dividend of $.67 per share. The dividend will be payable on October 31, 2020 to shareholders of record as of the close of business on October 15, 2020.
CEO Matt R. Opitz stated, "The Board of Directors of Trinity Bank, N.A. is pleased to announce the bank's 18th semiannual cash dividend. The dividend of $.67 per share payable in October 2020 represents a 4.7% increase over the $.64 per share dividend that was paid in April 2020."
"Trinity Bank has now increased its semiannual dividend each six months since dividends were initiated in 2012."
| April | October | Special | Annual | |
2012 | $0.20 | $0.20 | $1.00 | $1.40 |
2013 | $0.25 | $0.28 | $0.53 | |
2014 | $0.31 | $0.34 | $0.65 | |
2015 | $0.38 | $0.42 | $0.80 | |
2016 | $0.44 | $0.46 | $0.90 | |
2017 | $0.49 | $0.51 | $1.00 | |
2018 | $0.54 | $0.57 | $1.11 | |
2019 | $0.60 | $0.62 | $1.22 | |
2020 | $0.64 | $0.67 | $1.31 | |
$8.92 |
"Despite the challenges we have faced in 2020 brought on by the COVID-19 pandemic, global shutdown, low interest rate environment, a tumultuous energy market and political gridlock, the outlook for Trinity Bank remains positive. We are especially pleased to be announcing an increase in our dividend during a time when many other businesses have been forced maintain, reduce or suspend their dividend payments as a result of these challenges. In spite of the temporary increase in earning assets we have seen as a result of PPP lending activity, Trinity Bank remains well capitalized, with a capital ratio in excess of 11%, and well positioned to take advantage of growth opportunities in the North Texas market."
The Board of Directors will review the dividend policy again in the spring of 2021 when operating results for the second half of 2020 are available.
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.
For information contact:
Richard Burt
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 SB1 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 forwardlooking 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 forwardlooking 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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