North Dallas Bank & Trust Co. Announces Third Quarter Earnings
October 11, 2022 at 10:52 am EDT
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DALLAS, Oct. 11, 2022 (GLOBE NEWSWIRE) -- NDBT (North Dallas Bank & Trust Co.) (OTC: NODB), an independent community bank established in 1961, today announced net earnings of $2,406,349 or $0.94 per share for the three months ending September 30, 2022, compared to $2,151,043 or $0.84 per share for the same period in 2021. The increase in earnings is primarily due to loan growth experienced in 2022.
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 dividend declaration is available from Glenn Henry, Chief Financial Officer, by contacting NDBT.
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.
Media Contact: Brian C. Jensen 972-716-7124 brian.jensen@ndbt.com
FINANCIAL HIGHLIGHTS
Three Months Ended
Nine Months Ended
September 30
September 30
Income Statement
2022
2021
2022
2021
Net Interest Income
11,254,829
8,584,331
32,213,032
25,397,876
Provision for Loan Losses
(1,030,000
)
0
(2,880,000
)
(550,000
)
Noninterest Income
1,428,266
1,344,387
4,452,284
3,898,325
Noninterest Expenses
(8,684,486
)
(7,230,691
)
(25,389,764
)
(21,478,865
)
Income Before Taxes & Extraordinary
2,968,609
2,698,027
8,395,552
7,267,336
Income Tax
(562,260
)
(546,984
)
(1,632,059
)
(1,466,300
)
Income Before Extraordinary
2,406,349
2,151,043
6,763,493
5,801,036
Extraordinary
0
0
0
0
Net Income
2,406,349
2,151,043
6,763,493
5,801,036
Earnings per Share
0.94
0.84
2.63
2.26
Nine Month Average
As of September 30
Ended September 30
Balance Sheet
2022
2021
2022
2021
Total Assets
1,714,574,342
1,613,009,406
1,722,251,428
1,557,024,149
Total Loans
977,124,602
699,461,871
929,087,562
686,607,185
Deposits
1,549,447,060
1,432,490,642
1,551,142,503
1,378,994,890
Stockholders' Equity
155,002,096
171,295,732
162,692,072
170,563,720
(Prepared internally without review by our independent accountants)