North Dallas Bank & Trust Co. Announces Second Quarter Earnings
Rhea-AI Summary
North Dallas Bank & Trust Co. (NODB) has released its financial results for the second quarter of 2024. The bank reported net earnings of $969,777 or $0.38 per share for the three-month period ending June 30, 2024. For the six-month period, NODB achieved net earnings of $1,684,462 or $0.66 per share.
NODB, an independent community bank founded in 1961, prepared these earnings internally without review by independent accountants. The bank emphasizes that these financial results reflect past performance and market conditions, and should not be considered a guarantee of future results.
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DALLAS, July 19, 2024 (GLOBE NEWSWIRE) -- NDBT (North Dallas Bank & Trust Co.), an independent community bank established in 1961, today announced net earnings for three months of
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 earning and financial performance 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
| NORTH DALLAS BANK & TRUST CO. | |||||||||||
| 12900 PRESTON ROAD | |||||||||||
| DALLAS, TEXAS | |||||||||||
| FINANCIAL HIGHLIGHTS | Three Months Ended | Six Months Ended | |||||||||
| June 30 | June 30 | ||||||||||
| Income Statement | 2023 | 2023 | 2023 | 2023 | |||||||
| Interest Income | 19,396,299 | 15,259,838 | 38,118,686 | 29,334,830 | |||||||
| Interest Expense | 10,885,649 | 6,164,576 | 21,341,612 | 11,056,175 | |||||||
| Net Interest Income | 8,510,650 | 9,095,262 | 16,777,074 | 18,278,655 | |||||||
| Provision for Loan Losses | 0 | (150,000 | ) | (440,000 | ) | (450,000 | ) | ||||
| Noninterest Income | 1,409,222 | 1,333,817 | 2,837,935 | 2,711,908 | |||||||
| Noninterest Expenses | (8,768,035 | ) | (8,649,886 | ) | (17,221,354 | ) | (17,221,970 | ) | |||
| Income Before Taxes & Extraordinary | 1,151,837 | 1,629,193 | 1,953,655 | 3,318,593 | |||||||
| Income Tax | (157,060 | ) | (288,714 | ) | (244,193 | ) | (584,334 | ) | |||
| Income Tax Prior Period | (25,000 | ) | 0 | (25,000 | ) | 0 | |||||
| Net Income | 969,777 | 1,340,479 | 1,684,462 | 2,734,259 | |||||||
| Earnings per Share | 0.38 | 0.52 | 0.66 | 1.06 | |||||||
| Six Month Average | |||||||||||
| As of June 30 | Ended June 30 | ||||||||||
| Balance Sheet | 2023 | 2023 | 2023 | 2023 | |||||||
| Total Assets | 1,804,015,338 | 1,684,358,352 | 1,815,665,160 | 1,692,290,129 | |||||||
| Total Loans | 1,218,113,548 | 1,064,477,633 | 1,202,280,136 | 1,036,825,459 | |||||||
| Deposits | 1,485,693,496 | 1,425,914,001 | 1,502,816,939 | 1,483,888,586 | |||||||
| Stockholders' Equity | 166,632,291 | 160,522,874 | 165,127,241 | 160,144,964 | |||||||
| (Prepared internally without review by | |||||||||||
| our independent accountants) | |||||||||||
