177 0 Kommentare North Dallas Bank & Trust Co. Announces Second Quarter Earnings

DALLAS, July 12, 2023 (GLOBE NEWSWIRE) -- NDBT (North Dallas Bank & Trust Co.) (OTC: NODB), an independent community bank established in 1961, today announced net earnings for three months of $1,340,479 or $0.52 per share, and net earnings for six months of $2,734,259 or $1.06 per share, for the periods ending June 30, 2023.

Larry Miller, President and Chief Executive Officer noted “The velocity of interest rate increases experienced in the last several months has had a significant impact throughout the commercial banking industry. At NDBT, the loan growth we have generated over the course of the last two years has positioned our bank to meet market demand for higher deposit rates while preserving profitability. We are currently passing the earnings lift realized from these new loans to our depositors in the form of higher interest rates, recognizing that over time, our earnings profile will return to more traditional levels as higher yielding loans advance and current assets reprice. While the current market has created pressure on near term earnings, it has not required the surrender of our longer-term goals.”

Earnings were prepared internally without review by the company’s independent accountants. Financial results are the results of past performance, events and market conditions, and are not a guarantee for future results. Any forward-looking implications derived from this information may differ materially from actual results.

Further information about the earning and financial performance is available from Glenn Henry, Chief Financial Officer, by contacting NDBT.


FINANCIAL HIGHLIGHTS	Three Months Ended					Six Months Ended
	June 30					June 30
Income Statement		2023		2022			2023		2022

Interest Income		15,259,838		11,743,139			29,334,830		22,404,024
Interest Expense		6,164,576		788,677			11,056,175		1,445,821
Net Interest Income		9,095,262		10,954,462			18,278,655		20,958,203

Provision for Loan Losses		(150,000	)	(1,100,000	)		(450,000	)	(1,855,600	)
Noninterest Income		1,333,817		1,538,901			2,711,908		3,024,018
Noninterest Expenses		(8,649,886	)	(8,638,388	)		(17,221,970	)	(16,699,678	)
Income Before Taxes & Extraordinary		1,629,193		2,754,975			3,318,593		5,426,943

Income Tax		(288,714	)	(531,921	)		(584,334	)	(1,069,799	)
Net Income		1,340,479		2,223,054			2,734,259		4,357,144

Earnings per Share		0.52		0.87			1.06		1.70

						Six Month Average
	As of June 30					Ended June 30

Balance Sheet		2023		2022			2023		2022

Total Assets		1,684,358,352		1,728,270,805			1,692,290,129		1,722,033,798
Total Loans		1,064,477,633		969,600,433			1,036,825,459		911,467,409
Deposits		1,425,914,001		1,561,360,658			1,483,888,586		1,549,887,908
Stockholders' Equity		160,522,874		157,357,150			160,144,964		164,415,092

(Prepared internally without review by
our independent accountants)

ABOUT NDBT
Founded in 1961, NDBT (North Dallas Bank & Trust Co.) is an independent community bank with five banking centers located in Dallas, Addison, Frisco, Las Colinas, and Plano. Headquartered on the corner of Preston Road and LBJ at 12900 Preston Road in Dallas, NDBT is dedicated to helping people make smarter choices in business and life by offering authentic banking solutions, wealth management, and innovative online banking tools. NDBT is Member FDIC and an Equal Housing Lender. For more information, call 972.716.7100, or visit online at www.ndbt.com.