Please wait while we load the requested 10-Q report or click the link below:
FOR IMMEDIATE RELEASE
Contact: Walter Ida
Territorial Bancorp Inc. Announces Second Quarter 2018 Results
· Net income for the three months ended June 30, 2018 was $4.96 million compared to $4.30 million for the three months ended June 30, 2017. Net income for the three months ended June 30, 2018 rose by $662,000, or 15.39%.
· Fully diluted earnings per share rose by $0.08, or 17.78%, to $0.53 for the three months ending June 30, 2018 from $0.45 for the three months ending June 30, 2017.
· Return on average assets and return on average equity was 0.98% and 8.46%, respectively, for the three months ended June 30, 2018 compared to 0.91% and 7.32%, respectively, for the three months ended June 30, 2017.
· Interest income on loans for the three months ended June 30, 2018 grew by $1.36 million, or 10.03%, compared to the three months ended June 30, 2017.
· Deposits rose by 3.12% in the first six months of 2018 to $1.647 billion at June 30, 2018.
· Board of Directors approved a quarterly cash dividend of $0.22 per share on July 26, 2018, representing Territorial Bancorp Inc.s 35th consecutive quarterly dividend.
Honolulu, Hawaii, July 26, 2018 - Territorial Bancorp Inc. (NASDAQ: TBNK) (the Company), headquartered in Honolulu, Hawaii, the holding company parent of Territorial Savings Bank, announced net income of $4.96 million or $0.53 per diluted share for the three months ended June 30, 2018, compared to $4.30 million or $0.45 per diluted share for the three months ended June 30, 2017.
The Company also announced that its Board of Directors approved a quarterly cash dividend of $0.22 per share. The dividend is expected to be paid on August 23, 2018, to stockholders of record as of August 9, 2018.
Allan Kitagawa, Chairman and Chief Executive Officer, said, Our strong performance continued in the second quarter as we emphasize increasing the size of our loan portfolio by originating residential mortgage loans with good credit quality. Hawaiis strong economy has allowed us to increase the size of our loan portfolio and total deposits. We also are proud to announce a 10% increase in our quarterly cash dividend from $0.20 per share to $0.22 per share. This is our 35th consecutive quarterly dividend and will be paid to our shareholders on August 23rd.
The following information was filed by Territorial Bancorp Inc. (TBNK) on Thursday, July 26, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one quarter to another to evaluate Territorial Bancorp Inc.'s financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were
removed , and by Territorial Bancorp Inc..