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Territorial Bancorp Inc. reports public-company developments tied to operating and financial results, capital-structure disclosures, governance matters, material agreements, and shareholder voting topics. TBNK updates center on the company's reporting profile as an operating company and on corporate actions that affect its securities, board oversight, and shareholder approvals.
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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.