Triad Business B Stock Price, News & Analysis

Triad Business Bank reported a profitable third quarter of 2022, with net income of $228,000, or $0.03 per diluted share, a significant turnaround from a loss of $101,000 in the previous quarter. Core operating income rose to $449,000, reflecting a $303,000 increase. Loan growth was robust, with core loans increasing by $16.3 million. Total assets and deposits also grew by 3% and 4%, respectively. However, the Bank experienced a temporary $19 million loss in its bond portfolio due to rising interest rates, which will recover as bonds mature.

Triad Business Bank reported significant growth in the second quarter of 2022, achieving a core operating income of $146,000, up 140% from the previous quarter. Total assets increased 10% to $429.9 million, with core loans and deposits rising 9% and 15% respectively. The net interest margin improved to 2.77%, benefiting from a rising interest rate environment. Although the Bank posted a net loss of $101,000 for the quarter, the outlook remains positive as management anticipates continued growth and profitability.

Triad Business Bank (OTC Pink: TBBC) held its annual meeting of shareholders on June 8, 2022, where all seven director nominees were successfully elected. Additionally, shareholders approved an amendment to the long-term stock incentive plan, increasing the number of shares reserved for issuance from 500,000 to 660,000. The appointment of Dixon Hughes Goodman LLP, now known as FORVIS LLP, was also ratified.

This meeting highlights the bank's commitment to governance and employee incentives as it focuses on serving small to midsize businesses with robust banking solutions.

Triad Business Bank reported its first quarter of profitable core operations with a net income of $61,000, improving by $149,000 from the previous quarter. Core loans surged by $50 million, a 30% increase, contributing to a 23% rise in interest income. Total assets reached $392 million, driven by a $27.6 million deposit increase. However, the bank recorded a net loss of $569,000 due to provisions for loan losses. Shareholders' equity decreased by $7.6 million, primarily from an $8.3 million accumulated other comprehensive loss related to its investment portfolio. The bank anticipates benefiting from rising interest rates.

Triad Business Bank, operational since March 2020, has achieved significant growth, reaching $373 million in assets within two years. The bank reported a 27% increase in core loans and improved operating revenue despite an operating loss of $88,000 in Q4 2021. With rising interest rates expected to positively impact interest income, the bank aims for profitability in 2022. Key highlights include a 12% rise in demand deposits and no nonperforming assets, although the bank's tangible book value slightly decreased. The outlook reflects confidence in a growing interest rate environment enhancing margins.

Triad Business Bank, operational since March 2020, reported substantial growth in its September 2021 quarter. Total assets surged by nearly $100 million to $366 million, while deposits rose by $78 million. Shareholders' equity increased by $14.1 million following a recent capital raise. Core loans grew by 22% to $132.1 million. Although a net loss of $319,000 was reported, pre-provision losses narrowed significantly. The Bank anticipates continued growth with a robust loan pipeline of $147 million. CEO Ramsey K. Hamadi expressed optimism about the future.

On August 3, 2021, Triad Business Bank (OTC Pink: TBBC) completed the sale of 1,500,000 shares at $10.00 each, generating gross proceeds of $15 million. After costs, net proceeds were $14.94 million, raising total equity to $59.15 million. This sale increased tangible book value by $0.30 per share to $8.96. For the quarter ending June 30, 2021, net interest income rose 30% to $1.9 million, and the net loss decreased to $313,000. Total deposits increased by 11% to $209.3 million, and core loans grew by 14% to $108.3 million, reflecting a positive growth outlook for the bank.

Triad Business Bank (OTC Pink: TBBC) has appointed Wes Day to its board of directors. Day, managing partner at Teall Capital Partners, brings expertise in banking, investments, and strategic partnerships. His addition aligns with the bank's mission to provide creative solutions to its clients. Day, a former executive at BB&T and co-founder of biotech firm Encapsio, expressed enthusiasm for supporting small to medium-sized businesses. The bank aims to enhance its offerings through Day's experience in diverse sectors and recently re-elected its organizing directors at the annual meeting.