Exhibit 99.1

Logo
CORPORATION
116 East Berry, Fort Wayne, IN 46802



FOR FURTHER INFORMATION:

Michael Cahill
Trois Hart
Chief Financial Officer
Vice President, Marketing
260-427-7013
260-427-7053
mike.cahill@towerbank.net
trois.hart@towerbank.net

This release and other company news can be found at www.tofc.net 


TOWER FINANCIAL CORPORATION REPORTS RECORD 2005
EARNINGS PER SHARE OF $0.84, UP 37.7%
 
FORT WAYNE, INDIANA -- JANUARY 16, 2006 -- TOWER FINANCIAL CORPORATION (Nasdaq: TOFC) today announced fiscal year 2005 net income of $3.4 million, an increase of 38.8 percent from the $2.5 million reported for the previous fiscal year. Diluted earnings per share were $0.84, up 37.7 percent from 2004 earnings of $0.61 per share. Improvement reflects strong loan growth, excellent balance sheet management and increased non-interest income in all categories. Results for the 2004 period include an insurance settlement of $860,000 related to unauthorized loan activity in a prior period. Excluding taxes and expenses related to processing of the claim, the settlement added approximately $126,000, or $0.03 per diluted share, to fourth quarter 2004 earnings.

For the fourth quarter of 2005, net income was $938,000 compared with $915,000 for the prior-year period, an increase of 2.5 percent. Diluted earnings per share for both periods were $0.23; however, the prior-year fourth quarter includes the insurance settlement.

Fourth quarter and full-year 2005 highlights include:

 
o
Loans reached $450 million, up 12.5% from year-end 2004. Year-to-date, commercial loans, including CRE and C&I, grew 12.7%.

 
o
Deposits were $461 million, up 19.3% from year-end 2004. Of this total, non-interest-bearing demand deposits rose 15.5%.

 
o
Total revenue, excluding the insurance settlement and securities gains, increased 23.9% above the prior year.

 
o
The net interest margin (FTE) was 3.70% for the full-year 2005, a 39 basis point improvement year-over-year.

 
o
Managed assets, including brokerage and trust, reached $480 million at December 31, 2005, up 28.8% year-over-year, and generated $2.1 million in fee income in 2005, an increase of 25.6%.

 
o
Non-performing assets plus delinquencies were $2.8 million, or 0.50% of total assets at year-end, compared with 0.61% a year ago, and 0.57% for the previous quarter.


 
Donald F. Schenkel, Chairman and Chief Executive Officer, commented, "We are pleased to report a record year, where our strategies interacted synergistically to create a balance of strong performance. We have worked hard to position ourselves as the premier community and trust bank in our market - hiring the top people, training our expanded staff, and creating new products to meet the financial needs of the Northeast Indiana marketplace. We are seeing impressive results in all areas of our business: strong loan growth, growing core deposits, and in particular, the success of our expanding wealth services initiatives.

Mr. Schenkel continued, “We ended the year on a very positive note, with the establishment of a separate state-chartered trust subsidiary -- Tower Trust Company -- formed on January 1, 2006 as a separate and wholly-owned subsidiary of Tower Financial. The company will be staffed by the same dynamic team of fourteen professionals under the leadership of President Gary Shearer, and the group will now be known as Tower Private Advisors. They will provide the same full range of high quality services as before: trust, private banking, investment management, brokerage, estate and financial planning.

"In preparation for future growth, we recently broke ground for a sixth branch in the Fort Wayne market and issued $8.3 million in trust preferred securities in December. We enter 2006 with strong capital ratios that will amply support our growth needs for the next several years.”
 
Total revenue, consisting of net interest income and non-interest income, was $21.7 million for fiscal 2005, an increase of 17.0 percent over the $18.6 million reported in the prior-year period. Excluding the insurance settlement in 2004 and net securities gains in both years, operating revenue increased 23.9 percent to $21.8 million. Net interest income grew 22.7 percent to $17.6 million, reflecting a 9.5 percent increase in average earning assets and a 39 basis point improvement in the net interest margin to 3.70 percent. Mr. Schenkel added, "Our asset-sensitive balance sheet contributed to our strengthening margin throughout 2005. We are already taking steps to neutralize this sensitivity in anticipation of the Federal Reserve’s potential policy shift so that our margin will stabilize at its present level.”

Non-interest income for fiscal 2005, adjusted for the insurance settlement in 2004 and net securities gains in both years, was $4.2 million, up 29.4 percent above the $3.3 million reported in 2004. Trust and brokerage fees contributed $2.1 million, up $431,600 or 25.6 percent; Tower Private Advisors currently manages 598 accounts and $480.0 million in assets compared with 512 accounts and $372.7 million in assets a year ago, an increase of 16.8 percent and 28.8 percent, respectively. In addition, Tower reported significant increases in other fee income, up $448,600 or 71.6 percent, mainly from a $7.3 million increase in BOLI over the past twelve months, as well as higher sweep fees, point-of-sale transaction fees and other miscellaneous recurring fees; service charges also increased $139,600 or 22.5 percent for the same twelve-month period. The decline in mortgage banking fees of $62,300 results from management’s decision to retain a greater volume of fixed-rate mortgage loan originations in portfolio, balancing Tower’s asset-sensitive portfolio. Overall, 2005 originations were $31.7 million compared to last year’s volume of $31.8 million.

For the fourth quarter of 2005, total revenue was $5.9 million, unchanged from the prior year fourth quarter. Excluding the insurance settlement in 2004 and net securities gains in both years, operating revenue for the fourth quarter of 2005 increased 21.1 percent over the 2004 period. Net interest income increased 16.9 percent to $4.8 million, reflecting average earning asset growth of 12.2 percent and a 14 basis point improvement in the net interest margin to 3.79 percent. Non-interest income, excluding the insurance settlement in 2004 and net securities gains in both years, was $1.2 million, a 41.7 percent increase over the fourth quarter of 2004.

Non-interest expense for the fiscal year 2005 was $14.1 million, a 13.6 percent increase over the $12.4 million reported for the fiscal year 2004. The increase supported overall corporate growth. Salaries, benefits and occupancy expense together rose 20.7 percent and accounted for basically all of the expense growth; FTE employees totaled 150 at year-end, 14.0 percent higher than a year earlier. The combined expense of marketing and business development was $1.1 million in 2005, 36.8 percent higher than 2004, reflecting the additional costs associated with a higher level of business activity. Loan and professional costs reduced by $459,000 in 2005, following resolution of the issues surrounding unauthorized loan activity that occurred in a prior period.   The efficiency ratio for 2005 was 64.75 percent compared with 66.70 percent for the prior year.

For the fourth quarter of 2005, non-interest expense totaled $3.8 million, an increase of 6.5 percent over the $3.6 million reported in the year-ago quarter. The majority of the increase supported overall corporate growth.

Asset quality remains sound. During the course of the year, Tower charged off $2.4 million, or 0.55 percent of average loans, compared with $2.0 million and 0.52 percent, respectively, the prior year. Non-performing assets plus delinquencies were $2.8 million, or 0.50 percent of total assets at 2005 year-end, down from $2.9 million and 0.61 percent, respectively, for 2004, and $3.1 million and 0.57 percent for the preceding quarter. Tower's allowance for loan losses was 1.25 percent of total loans at December 31, 2005.

Assets reached $557.8 million at December 31, 2005, a 15.9 percent increase over the $481.1 million reported twelve months ago. Loans outstanding grew by $49.9 million, or 12.5 percent, reaching $450.4 million at year-end, while investment securities increased by $15.6 million, or 44.6 percent. Commercial loans (CRE plus C&I) now account for 78.7 percent of Tower's loan portfolio; since year-end 2004, they increased 12.7 percent, to $354.5 million. For the same twelve-month period, core deposits (DDA, savings, NOW and money market accounts) grew 10.1 percent, to $189.9 million; core deposits now comprise 41.2 percent of total deposits. Non-interest bearing DDA deposits contribute 14.5 percent of total deposits; they increased 15.5 percent since year-end 2004.



Shareholders' equity was $47.3 million at December 31, 2005, an increase of 7.4 percent from the $44.0 million reported twelve months ago. Tower continues to meet the requirements for "well-capitalized" banks; the total risk-based capital ratio was 13.24 percent. Period-end shares outstanding were 4,007,936. Mr. Schenkel concluded, “Overall, we are very pleased with this past year. We are even more pleased by the opportunities we see ahead for 2006. All businesses are thriving, and we are well-positioned to build upon the strong foundation we have established in our marketplace.”


ABOUT THE COMPANY
Tower Financial Corporation is the only publicly-held bank holding company headquartered in Fort Wayne, Indiana. Its subsidiary bank, Tower Bank & Trust Company is a growing community bank that opened in February 1999. Tower Bank provides a wide variety of financial services to businesses and consumers located in Northeast Indiana through its five full-service banking centers in Fort Wayne and a business development office in Angola, Indiana. Tower Trust Company, a newly-formed state-chartered trust subsidiary, offers the full-range of wealth management services. Tower Financial Corporation's common stock is listed on the Nasdaq National Market under the symbol "TOFC." For further information, please visit Tower's web site at www.TOFC.net.

FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements that are based on management's beliefs, assumptions, current expectations, estimates and projections about the financial services industry, the economy, and about the Corporation and the Bank. These forward-looking statements are intended to be covered by the safe-harbor provisions of the Private Securities Reform Act of 1995.

These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. Actual results and outcomes may differ materially from what may be expressed or forecasted in the forward-looking statements. Future factors include changes in interest rates and interest-rate relationships; demand for products and services; the degree of competition by traditional and non-traditional competitors; changes in banking regulation; changes in tax laws; changes in prices, levies, and assessments; the impact of technological advances; governmental and regulatory policy changes; the outcomes of contingencies, trends in customer behavior and their ability to repay loans; changes in the national and local economy; and other factors, including risk factors, referred to from time to time in filings made by the Corporation with the Securities and Exchange Commission and available via EDGAR. These are representative of the future factors that could cause a difference between an ultimate actual outcome and a preceding forward-looking statement. The Corporation undertakes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise.
 


Tower Financial Corporation
         
Consolidated Balance Sheets
         
At December 31, 2005 and December 31, 2004
         
   
(unaudited)
     
   
December 31
 
December 31
 
   
2005
 
2004
 
ASSETS
         
Cash and due from banks
 
$
14,326,710
 
$
11,911,033
 
Short-term investments and interest-earning deposits
   
16,393,439
   
8,109,456
 
Federal funds sold
   
7,188,188
   
17,204,536
 
Total cash and cash equivalents
   
37,908,337
   
37,225,025
 
               
Securities available for sale, at fair value
   
50,642,276
   
35,024,966
 
FHLBI and FRB stock
   
3,421,300
   
3,232,500
 
Loans held for sale
         
-
 
               
Loans
   
450,390,935
   
400,510,491
 
Allowance for loan losses
   
(5,645,301
)
 
(5,607,992
)
Net loans
   
444,745,634
   
394,902,499
 
               
Premises and equipment, net
   
4,638,436
   
2,984,596
 
Accrued interest receivable
   
2,802,189
   
1,969,610
 
Bank Owned Life Insurance
   
10,462,402
   
3,205,785
 
Other assets
   
3,200,086
   
2,572,020
 
               
Total assets
 
$
557,820,660
 
$
481,117,001
 
               
LIABILITIES AND STOCKHOLDERS' EQUITY
             
LIABILITIES
             
Deposits:
             
Noninterest-bearing
 
$
66,742,748
 
$
57,800,311
 
Interest-bearing
   
394,208,113
   
328,579,595
 
Total deposits
   
460,950,861
   
386,379,906
 
               
Short-term borrowings
   
-
   
200,000
 
Federal Home Loan Bank advances
   
34,700,000
   
45,000,000
 
Junior subordinated debt
   
11,856,000
   
3,608,000
 
Accrued interest payable
   
954,075
   
559,213
 
Other liabilities
   
2,091,670
   
1,356,412
 
Total liabilities
   
510,552,606
   
437,103,531
 
               
STOCKHOLDERS' EQUITY
             
Preferred stock, no par value, 4,000,000 shares authorized; no shares issued and outstanding
             
Common stock and paid-in-capital, no par value, 6,000,000 shares authorized; issued and outstanding - 4,007,936 shares at December 31, 2005 and , 4,003,156 shares at December 31, 2004
   
38,006,929
   
37,952,860
 
Retained earnings
   
9,478,812
   
6,040,155
 
Accumulated other comprehensive income (loss) , net of tax of $(122,449) at December 31, 2005 and $13,637 at December 31, 2004
   
(217,687
)
 
20,455
 
Total stockholders' equity
   
47,268,054
   
44,013,470
 
               
Total liabilities and stockholders' equity
 
$
557,820,660
 
$
481,117,001
 


 
 
Consolidated Statements of Operations
 
For the three and twelve months ended December 31, 2005 and 2004
 
(unaudited)
 
   
For the Three Months Ended
December 31
 
For the Twelve Months Ended
December 31
 
   
2005
 
2004
 
2005
 
2004
 
Interest income:
                 
Loans, including fees
 
$
7,675,629
 
$
5,406,703
 
$
26,893,186
 
$
19,205,012
 
Securities - taxable
   
333,983
   
295,604
   
1,038,112
   
1,093,255
 
Securities - tax exempt
   
132,216
   
137,356
   
533,455
   
489,690
 
Other interest income
   
236,580
   
71,731
   
591,032
   
176,897
 
 Total interest income
   
8,378,408
   
5,911,394
   
29,055,785
   
20,964,854
 
Interest expense:
                         
Deposits
   
3,304,895
   
1,561,905
   
10,298,929
   
5,607,090
 
Short-term borrowings
   
-
   
4,573
   
288
   
9,358
 
FHLB advances
   
183,233
   
181,930
   
833,226
   
707,568
 
Trust preferred securities
   
116,750
   
81,180
   
360,290
   
324,720
 
 Total interest expense
   
3,604,878
   
1,829,588
   
11,492,733
   
6,648,736
 
                           
Net interest income
   
4,773,530
   
4,081,806
   
17,563,052
   
14,316,118
 
Provision for loan losses
   
675,000
   
895,000
   
2,392,000
   
2,360,000
 
                           
Net interest income after provision for loan losses
   
4,098,530
   
3,186,806
   
15,171,052
   
11,956,118
 
                           
Noninterest income:
                         
Trust and brokerage fees
   
538,502
   
434,789
   
2,118,275
   
1,686,633
 
Service charges
   
209,921
   
166,122
   
759,553
   
619,951
 
Loan broker fees
   
89,008
   
67,280
   
264,526
   
326,835
 
Gain/(Loss) on sale of securities
   
(33,694
)
 
136,125
   
(33,694
)
 
154,338
 
Insurance Settlement
   
-
   
860,000
   
-
   
860,000
 
Other fees
   
324,802
   
151,770
   
1,074,863
   
626,251
 
 Total noninterest income
   
1,128,539
   
1,816,086
   
4,183,523
   
4,274,008
 
                           
Noninterest expense:
                         
Salaries and benefits
   
2,274,505
   
2,017,784
   
8,417,091
   
6,867,061
 
Occupancy and equipment
   
481,199
   
443,184
   
1,825,788
   
1,620,794
 
Marketing
   
184,714
   
63,553
   
609,797
   
475,872
 
Data processing
   
112,371
   
90,163
   
448,266
   
379,221
 
Loan and professional costs
   
170,287
   
513,358
   
835,516
   
1,294,783
 
Office supplies and postage
   
94,033
   
73,519
   
310,714
   
333,622
 
Courier service
   
84,330
   
82,667
   
330,334
   
306,836
 
Business Development
   
138,458
   
63,901
   
443,932
   
294,127
 
Other expense
   
257,159
   
216,984
   
859,718
   
827,060
 
 Total noninterest expense
   
3,797,056
   
3,565,113
   
14,081,156
   
12,399,376
 
                           
Income before income taxes
   
1,430,013
   
1,437,779
   
5,273,419
   
3,830,750
 
Income taxes expense
   
492,440
   
522,550
   
1,834,760
   
1,351,440
 
                           
Net income
 
$
937,573
 
$
915,229
 
$
3,438,659
 
$
2,479,310
 
                           
Basic earnings per common share
 
$
0.23
 
$
0.23
 
$
0.86
 
$
0.63
 
Diluted earnings per common share
 
$
0.23
 
$
0.23
 
$
0.84
 
$
0.61
 
Average common shares outstanding
   
4,007,936
   
4,003,156
   
4,006,170
   
3,959,837
 
Average common shares and dilutive potential common shares outstanding
   
4,037,920
   
4,064,054
   
4,083,004
   
4,054,040
 
                           
Total Shares outstanding at end of period
   
4,007,936
   
4,003,156
   
4,007,936
   
4,003,156
 
 


Tower Financial Corporation
 
Consolidated Financial Highlights
 
Fourth Quarter 2005
 
(unaudited)
 
   
Quarterly
 
 Year-To-Date
 
($ in thousands except for share data) 
 
4th Qtr
2005
 
3rd Qtr
2005
 
2nd Qtr
2005
 
1st Qtr
2005
 
4th Qtr
2004
 
3rd Qtr
2004
 
2nd Qtr
2004
 
1st Qtr
2004
   
 2005
   
2004
 
                                            
EARNINGS
                                          
Net interest income
 
$
4,774
   
4,453
   
4,304
   
4,033
   
4,082
   
3,675
   
3,290
   
3,269
   
17,564
   
14,316
 
Provision for loan loss
 
$
675
   
600
   
536
   
581
   
895
   
655
   
310
   
500
   
2,392
   
2,360
 
NonInterest income
 
$
1,129
   
1,147
   
1,001
   
907
   
1,816
   
853
   
816
   
788
   
4,184
   
4,273
 
NonInterest expense
 
$
3,797
   
3,578
   
3,460
   
3,246
   
3,565
   
2,912
   
3,115
   
2,807
   
14,081
   
12,399
 
Net income
 
$
938
   
933
   
842
   
727
   
915
   
629
   
454
   
480
   
3,440
   
2,478
 
Basic earnings per share
 
$
0.23
   
0.23
   
0.21
   
0.18
   
0.23
   
0.16
   
0.12
   
0.12
   
0.86
   
0.63
 
Diluted earnings per share
 
$
0.23
   
0.23
   
0.21
   
0.18
   
0.23
   
0.16
   
0.11
   
0.12
   
0.84
   
0.61
 
Average shares outstanding
   
4,007,936
   
4,007,697
   
4,005,824
   
4,003,156
   
4,003,156
   
3,947,941
   
3,944,394
   
3,943,512
   
4,006,170
   
3,959,837
 
Average diluted shares outstanding
   
4,037,920
   
4,093,426
   
4,073,011
   
4,070,758
   
4,064,054
   
4,025,947
   
4,017,018
   
4,044,039
   
4,083,004
   
4,054,040
 
 
   
   
   
   
   
   
   
   
   
   
 
PERFORMANCE RATIOS
   
   
   
   
   
   
   
   
   
   
 
Return on average assets *
   
0.70
 
0.71
 
0.69
 
0.62
 
0.77
 
0.53
 
0.40
 
0.44
%   
 
0.68
 
0.72
%
Return on average common equity *
   
7.92
%
 
8.02
%
 
7.48
%
 
6.61
%
 
8.39
%
 
5.93
%
 
4.38
%
 
4.67
%
 
7.52
%
 
7.87
%
Net interest margin (fully-tax equivalent) *
   
3.79
%
 
3.64
%
 
3.75
%
 
3.63
%
 
3.65
%
 
3.30
%
 
3.06
%
 
3.17
%
 
3.70
%
 
3.31
%
Efficiency ratio
   
64.32
%
 
63.89
%
 
65.22
%
 
65.71
%
 
60.44
%
 
64.31
%
 
75.86
%
 
69.19
%
 
64.75
%
 
66.70
%
 
   
   
   
   
   
   
   
   
   
   
 
CAPITAL
   
   
   
   
   
   
   
   
   
   
 
Average equity to average assets
   
8.80
%
 
8.91
%
 
9.26
%
 
9.33
%
 
9.17
%
 
9.00
%
 
9.16
%
 
9.46
%
 
9.06
%
 
9.20
%
Tier 1 leverage capital ratio
   
11.08
%
 
9.67
%
 
10.12
%
 
10.03
%
 
9.87
%
 
9.97
%
 
9.99
%
 
10.26
%
 
11.08
%
 
9.87
%
Tier 1 risk-based capital ratio
   
12.16
%
 
10.44
%
 
10.69
%
 
10.87
%
 
11.08
%
 
11.18
%
 
11.18
%
 
11.31
%
 
12.16
%
 
11.08
%
Total risk-based capital ratio
   
13.24
%
 
11.62
%
 
11.90
%
 
12.09
%
 
12.29
%
 
12.39
%
 
12.39
%
 
12.52
%
 
13.24
%
 
12.29
%
Book value per share
 
$
11.79
   
11.61
   
11.41
   
11.11
   
10.99
   
10.81
   
10.46
   
10.55
   
11.79
   
10.99
 
 
                     
   
                               
ASSET QUALITY
                                                             
Net charge-offs
 
$
860
   
697
   
334
   
464
   
1,088
   
259
   
273
   
391
   
2,355
   
2,011
 
Net charge-offs to average loans *
   
0.77
%
 
0.63
%
 
0.32
%
 
0.46
%
 
1.08
%
 
0.27
%
 
0.29
%
 
0.42
%
 
0.55
%
 
0.52
%
Allowance for loan losses
 
$
5,645
   
5,830
   
5,927
   
5,725
   
5,608
   
5,707
   
5,181
   
5,368
   
5,645
   
5,608
 
Allowance for loan losses to total loans
   
1.25
%
 
1.31
%
 
1.38
%
 
1.38
%
 
1.40
%
 
1.44
%
 
1.36
%
 
1.40
%
 
1.25
%
 
1.40
%
Nonperforming loans
 
$
1,688
   
1,961
   
2,175
   
2,034
   
1,833
   
4,679
   
1,793
   
2,551
   
1,688
   
1,833
 
Other real estate owned (OREO)
 
$
244
   
-
   
400
   
1,095
   
430
   
400
   
-
   
-
   
244
   
430
 
Nonperforming assets (NPA)
 
$
1,932
   
1,961
   
2,575
   
3,129
   
2,263
   
5,079
   
1,793
   
2,551
   
1,932
   
2,263
 
90+ Day delinquencies
 
$
864
   
1,136
   
765
   
783
   
677
   
346
   
209
   
103
   
864
   
677
 
NPA's plus 90 Days delinquent
 
$
2,796
   
3,097
   
3,340
   
3,912
   
2,940
   
5,425
   
2,002
   
2,654
   
2,796
   
2,940
 
NPA's to Total assets
   
0.35
%
 
0.36
%
 
0.51
%
 
0.64
%
 
0.47
%
 
1.06
%
 
0.38
%
 
0.57
%
 
0.35
%
 
0.47
%
NPA's+90 to Total assets
   
0.50
%
 
0.57
%
 
0.66
%
 
0.80
%
 
0.61
%
 
1.14
%
 
0.42
%
 
0.59
%
 
0.50
%
 
0.61
%
NPA's to Loans + OREO
   
0.43
%
 
0.44
%
 
0.60
%
 
0.75
%
 
0.56
%
 
1.28
%
 
0.47
%
 
0.67
%
 
0.43
%
 
0.56
%
           
         
                                     
END OF PERIOD BALANCES
                                                             
Total assets
 
$
557,821
   
542,632
   
507,519
   
487,833
   
481,117
   
477,489
   
473,616
   
446,054
   
557,821
   
481,117
 
Total earning assets
 
$
528,036
   
513,036
   
479,241
   
465,217
   
464,081
   
445,145
   
454,225
   
430,466
   
528,036
   
464,081
 
Total loans
 
$
450,391
   
443,365
   
429,331
   
414,423
   
400,510
   
395,883
   
381,690
   
382,941
   
450,391
   
400,510
 
Total deposits
 
$
460,951
   
467,538
   
429,678
   
399,896
   
386,380
   
401,003
   
400,212
   
370,953
   
460,951
   
386,380
 
Stockholders' equity
 
$
47,268
   
46,537
   
45,712
   
44,476
   
44,013
   
43,275
   
41,266
   
41,623
   
47,268
   
44,013
 
 
   
   
   
   
   
   
   
   
   
   
 
AVERAGE BALANCES
   
   
   
   
   
   
   
   
   
   
 
Total assets
 
$
534,172
   
518,540
   
487,429
   
477,739
   
471,607
   
467,142
   
454,100
   
437,385
   
504,470
   
457,560
 
Total earning assets
 
$
507,361
   
492,937
   
468,357
   
458,122
   
452,327
   
449,735
   
436,621
   
420,517
   
481,695
   
439,796
 
Total loans
 
$
441,719
   
437,426
   
418,564
   
404,794
   
399,546
   
387,269
   
381,613
   
377,936
   
425,626
   
386,587
 
Total deposits
 
$
455,988
   
440,969
   
410,019
   
392,351
   
396,066
   
393,480
   
380,577
   
361,113
   
424,832
   
382,784
 
Stockholders' equity
 
$
46,997
   
46,182
   
45,131
   
44,593
   
43,245
   
42,058
   
41,615
   
41,370
   
45,726
   
42,077
 
 
 
* annualized for quarterly data
 


The following information was filed by Tower Financial Corp (TOFC) on Wednesday, January 18, 2006 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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