Territorial Bancorp Inc. (TBNK) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Earnings Press Release
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Territorial Bancorp Inc.
Ticker: TBNK CIK: 1447051

Exhibit 99.1

PRESS RELEASE

FOR IMMEDIATE RELEASE

Contact: Walter Ida

(808) 946-1400

Territorial Bancorp Inc. Announces 2018 Results

· Net income for the three months ended December 31, 2018 was $4.64 million compared to $2.17 million for the three months ended December 31, 2017, an increase of $2.47 million or 114.26%. Net income for the year ended December 31, 2018 was $19.21 million compared to $14.96 million for the year ended December 31, 2017, an increase of $4.25 million or 28.41%.

· Fully-diluted earnings per share for the three months ended December 31, 2018 was $0.50 per share compared to $0.23 per share for the three months ended December 31, 2017, an increase of $0.27 per share or 117.39%. Fully-diluted earnings per share for 2018 was $2.03 per share compared to $1.57 per share for 2017, an increase of $0.46 per share or 29.30%.

· Interest income on loans for the three months ended December 31, 2018 was $15.45 million compared to $14.27 million for the three months ended December 31, 2017, an increase of $1.18 million or 8.29%. Interest income on loans for the year ended December 31, 2018 was $60.28 million compared to $55.14 million for the year ended December 31, 2017, an increase of $5.14 million or 9.31%.

· Return on average assets and return on average equity for the three months ended December 31, 2018 rose to 0.90% and 7.77% compared to 0.43% and 3.61% for the three months ended December 31, 2017.

· Board of Directors approved a quarterly cash dividend of $0.22 per share, representing Territorial Bancorp Inc.’s 34th consecutive quarterly dividend.

Honolulu, Hawaii, January 22, 2019 - Territorial Bancorp Inc. (NASDAQ: TBNK) (the “Company”), headquartered in Honolulu, Hawaii, the holding company parent of Territorial Savings Bank, announced net income of $4.64 million or $0.50 per diluted share for the three months ended December 31, 2018, compared to $2.17 million or $0.23 per diluted share for the three months ended December 31, 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 February 19, 2019 to stockholders of record as of February 5, 2019.

Allan Kitagawa, Chairman and Chief Executive Officer, said, “In 2018, the Company performed well despite the challenges from rising interest rates and home prices in Hawaii. Our strong performance has allowed us to grow our loan portfolio and interest income. ”

The following information was filed by Territorial Bancorp Inc. (TBNK) on Tuesday, January 22, 2019 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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