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. 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.
Territorial Bancorp Inc. (NASDAQ: TBNK) announced a quarterly cash dividend of $0.23 per share, to be paid on August 27, 2020, for stockholders on record by August 13, 2020. CEO Allan Kitagawa noted strong performance in Q2 2020, with increases in net interest margin and net interest income, despite challenges posed by COVID-19. The company's robust capital position is highlighted as a cushion against ongoing economic uncertainties.
Territorial Bancorp Inc. (NASDAQ: TBNK) reported a net income of $4.29 million, or $0.47 per diluted share, for Q2 2020, a decrease from $5.06 million in Q2 2019. A $1.40 million loan loss provision was recognized, linked to a rise in Hawaii's unemployment due to COVID-19. Notably, net interest income rose to $14.77 million, while total interest income fell to $18.01 million. The company's board approved a cash dividend of $0.23 per share, marking its 42nd consecutive dividend. Total assets remained steady at $2.09 billion, with loans receivable declining to $1.54 billion.
On June 11, 2020, Territorial Bancorp Inc. (NASDAQ: TBNK) held its 2020 Annual Meeting of Stockholders in Honolulu, Hawaii. The Company announced the re-election of Board members Howard Y. Ikeda and David S. Murakami for three-year terms. Stockholders also ratified Moss Adams LLP as the independent public accounting firm for the fiscal year ending December 31, 2020, and approved executive officer compensation on an advisory basis. Territorial Savings Bank, founded in 1921, operates 29 branches across Hawaii.
Territorial Bancorp Inc. (NASDAQ: TBNK) announced a shift to a virtual format for its 2020 Annual Meeting of Stockholders, scheduled for June 11, 2020, at 8:30 a.m. Hawaii Standard Time. This decision was made to ensure the health and safety of participants amid the ongoing COVID-19 pandemic. Stockholders of record by March 13, 2020, can access the meeting online. The Proxy Statement and other relevant documents can be found at www.proxyvote.com. The company remains committed to transparency despite the challenges posed by the pandemic.
Summary not available.
Summary not available.