Welcome to our dedicated page for Triad Business B news (Ticker: TBBC), a resource for investors and traders seeking the latest updates and insights on Triad Business B stock.
Triad Business Bank reports news centered on its community and business banking operations in North Carolina's Triad region. The bank serves small and midsize businesses and their owners through commercial loans, treasury management and private banking, and its common stock is quoted on the OTC Pink market under the symbol TBBC.
Recurring company updates include unaudited quarterly results, net interest income, net interest margin, loan growth, funding costs, investment securities, accumulated other comprehensive income or loss, and regulatory capital measures. News also covers capital raises, board governance changes, OTC market quotation matters and the bank's status as a well-capitalized institution for regulatory purposes.
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.
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Triad Business Bank reported robust financial results for Q3 2020, showing a 63% increase in interest income to $1.6 million compared to the previous quarter. The net interest margin rose to 2.41%, an increase of 67 basis points. Total core loans grew by 46% to $73 million, and core deposits increased by $52 million to $145 million. Despite a net loss of $728,000, the operating loss before provisions declined by 41%. The bank originated over $250 million in commercial loans and reported significant demand for second draw PPP loans.
Triad Business Bank has announced that its common stock will trade under the ticker symbol TBBC on the OTC Pink Market as of October 7, 2020. The Bank's CEO, Ramsey K. Hamadi, stated that this move aims to enhance visibility and improve liquidity for shareholders. Janney Montgomery Scott, LLC, the Bank's placement agent, will provide market making services, potentially increasing trading activity in the bank's stock over time. Triad Business Bank focuses on serving the needs of small to midsize businesses, offering loans and treasury management.