Welcome to our dedicated page for Territorial Bancorp news (Ticker: TBNK), a resource for investors and traders seeking the latest updates and insights on Territorial Bancorp stock.
Territorial Bancorp Inc. (NASDAQ: TBNK) is the stock holding company for Territorial Savings Bank, a state-chartered savings bank headquartered in Honolulu, Hawaiʻi and originally chartered in 1921 by the Territory of Hawaiʻi. This news page aggregates company announcements, earnings releases, and merger-related communications that affect Territorial Bancorp and its shareholders.
Readers can find detailed quarterly and annual financial results, where Territorial Bancorp reports net income or loss, net interest income, interest expense on deposits and borrowings, noninterest income and noninterest expense, and key balance sheet items such as loans receivable, investment securities, deposits, and borrowings. These releases also provide information on capital ratios, including tier one leverage and risk-based capital ratios, and asset quality metrics such as the ratio of non-performing assets to total assets and the allowance for credit losses.
A significant portion of recent news focuses on the definitive merger agreement with Hope Bancorp, Inc. (NASDAQ: HOPE). Coverage includes joint announcements of the merger terms, updates on regulatory approvals, and statements about the expected operation of the Territorial franchise in Hawaiʻi as “Territorial Savings, a division of Bank of Hope” after completion of the transaction. Additional news items include communications from investor groups commenting on the merger and alternative proposals, as well as Territorial’s Board of Directors reaffirming its recommendation regarding the Hope Bancorp transaction.
By reviewing the articles linked from this page, investors can follow developments in Territorial Bancorp’s financial performance, monitor progress of the Hope Bancorp merger, and read perspectives from the company and external stakeholders on strategic alternatives and shareholder considerations.
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Territorial Bancorp Inc. (NASDAQ: TBNK) announced a quarterly cash dividend of $0.23 per share, payable on February 23, 2023, to stockholders of record on February 9, 2023. CEO Allan Kitagawa expressed confidence in the company’s strong capital and asset quality, which are expected to sustain performance amid challenging interest rate conditions. Additionally, TBNK revealed its twelfth stock repurchase program and highlighted cost-saving measures from moving to less expensive headquarters. The company remains focused on enhancing shareholder value despite potential economic uncertainties.
Territorial Bancorp (NASDAQ: TBNK) reported a net income of $3.45 million for Q4 2022, a decline from $4.20 million in Q4 2021. The bank announced its twelfth share repurchase program and paid a special dividend of $0.10 per share. The quarterly cash dividend of $0.23 is set for payment on February 23, 2023. Total interest income rose to $16.22 million, driven by higher earnings from investment securities, although net interest income decreased to $13.27 million. Total assets increased to $2.17 billion, and stockholders' equity grew marginally to $256.55 million.