Exhibit 99.1

 

PRESS RELEASE

FOR IMMEDIATE RELEASE

 

Contact:

Walter Ida

 

(808) 946-1400

 

Territorial Bancorp Inc. Announces Second Quarter 2019 Results

 

·                  Net income for the three months ended June 30, 2019 was $5.06 million compared to $4.96 million for the three months ended June 30, 2018, an increase of 1.95%.

·                  Fully-diluted earnings per share for the three months ended June 30, 2019 was $0.54 per share compared to $0.53 per share for the three months ended June 30, 2018, an increase of $0.01 per share or 1.89%.

·                  Interest income on loans for the three months ended June 30, 2019 was $16.00 million compared to $14.88 million for the three months ended June 30, 2018, an increase of $1.12 million, or 7.52%.

·                  Net loans receivable for the six months ended June 30, 2019 was $1.60 billion compared to $1.57 billion for the year ended December 31, 2018.

·                  The Company did not have any delinquent loans 90 days past due and not accruing at June 30, 2019 as compared to $879,000 at December 31, 2018.  During the same period, non-performing assets declined to $892,000 at June 30, 2019 from $2.21 million at December 31, 2018.

·                  Board of Directors approved a quarterly cash dividend of $0.22 per share, representing Territorial Bancorp Inc.’s 38th consecutive quarterly dividend.

 

Honolulu, Hawaii, July 25, 2019 - Territorial Bancorp Inc. (NASDAQ: TBNK) (the “Company”), headquartered in Honolulu, Hawaii, the holding company parent of Territorial Savings Bank, announced net income of $5.06 million or $0.54 per fully- diluted share for the three months ended June 30, 2019, compared to $4.96 million or $0.53 per fully-diluted share for the three months ended June 30, 2018.

 

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 22, 2019 to stockholders of record as of August 8, 2019.

 

Allan Kitagawa, Chairman and Chief Executive Officer, said, “Our strong performance continued in the second quarter.  We were able to increase our total loans and deposits while maintaining good asset quality.”

 

Interest Income

 

Total interest income was $19.11 million for the three months ended June 30, 2019 compared to $18.18 million for the three months ended June 30, 2018.  The $932,000 growth in total interest income was due to a $1.12 million increase in interest income on loans, which resulted primarily from a $72.78 million increase in average loans

 


The following information was filed by Territorial Bancorp Inc. (TBNK) on Thursday, July 25, 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-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 SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Territorial Bancorp Inc..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account