TOUCHMARK BANCSHARES, INC. REPORTS FIRST QUARTER RESULTS
Touchmark Bancshares (OTC Pink: TMAK) reported its Q1 2025 financial results, marking a transition period with significant leadership changes and strategic shifts. Net income decreased 48.4% to $733,000 compared to Q1 2024's $1.4 million. The company appointed Bobby Krimmel as the new President and CEO, succeeding Dr. J.J. Shah, and implemented a new strategy focusing on local market growth within 25 miles of their Alpharetta headquarters.
Key financial metrics showed net interest income declining 14.4% to $2.9 million, total loans decreasing by $16.3 million (4.3%), and efficiency ratio increasing to 59.22%. The bank strengthened its team by adding new bankers, including an SBA specialist, to boost loan portfolio growth. Asset quality improved with nonperforming assets decreasing from $13.4 million in Q1 2024 to $7.6 million, and net charge-offs declining to 0.60% from 4.74% in Q4 2024.
Touchmark Bancshares (OTC Pink: TMAK) ha comunicato i risultati finanziari del primo trimestre 2025, segnando un periodo di transizione con importanti cambiamenti nella leadership e strategie riviste. L'utile netto è diminuito del 48,4% attestandosi a 733.000 dollari rispetto ai 1,4 milioni del primo trimestre 2024. L'azienda ha nominato Bobby Krimmel nuovo Presidente e CEO, succedendo al dott. J.J. Shah, e ha adottato una nuova strategia focalizzata sulla crescita del mercato locale entro 25 miglia dalla sede di Alpharetta.
I principali indicatori finanziari hanno mostrato un calo del reddito netto da interessi del 14,4%, arrivando a 2,9 milioni di dollari, una riduzione dei prestiti totali di 16,3 milioni di dollari (4,3%) e un aumento del rapporto di efficienza al 59,22%. La banca ha rafforzato il team con nuovi banchieri, incluso uno specialista SBA, per stimolare la crescita del portafoglio prestiti. La qualità degli attivi è migliorata con una diminuzione degli attivi non performanti da 13,4 milioni nel primo trimestre 2024 a 7,6 milioni, e una riduzione delle perdite nette su crediti a 0,60% dal 4,74% nel quarto trimestre 2024.
Touchmark Bancshares (OTC Pink: TMAK) reportó sus resultados financieros del primer trimestre de 2025, marcando un período de transición con cambios significativos en el liderazgo y ajustes estratégicos. La utilidad neta disminuyó un 48,4% hasta 733,000 dólares en comparación con los 1,4 millones del primer trimestre de 2024. La empresa nombró a Bobby Krimmel como nuevo Presidente y CEO, en reemplazo del Dr. J.J. Shah, e implementó una nueva estrategia centrada en el crecimiento del mercado local dentro de un radio de 25 millas desde su sede en Alpharetta.
Los principales indicadores financieros mostraron una reducción del ingreso neto por intereses del 14,4%, llegando a 2,9 millones de dólares, una disminución de los préstamos totales en 16,3 millones de dólares (4,3%) y un aumento en la ratio de eficiencia al 59,22%. El banco fortaleció su equipo con nuevos banqueros, incluyendo un especialista en SBA, para impulsar el crecimiento de la cartera de préstamos. La calidad de los activos mejoró con una reducción de los activos no productivos de 13,4 millones en el primer trimestre de 2024 a 7,6 millones, y una disminución de las pérdidas netas por créditos incobrables al 0,60% desde el 4,74% en el cuarto trimestre de 2024.
Touchmark Bancshares(OTC Pink: TMAK)는 2025년 1분기 재무 실적을 발표하며, 중대한 리더십 변화와 전략적 전환기를 맞이했습니다. 순이익은 2024년 1분기 140만 달러에서 48.4% 감소한 73만 3천 달러를 기록했습니다. 회사는 Bobby Krimmel을 신임 사장 겸 CEO로 임명하며 Dr. J.J. Shah의 뒤를 이었고, 알파레타 본사에서 25마일 이내 지역 시장 성장에 집중하는 새로운 전략을 도입했습니다.
주요 재무 지표는 순이자수익이 14.4% 감소한 290만 달러, 총 대출금은 1,630만 달러(4.3%) 감소했으며, 효율성 비율은 59.22%로 상승했습니다. 은행은 SBA 전문가를 포함한 신규 은행가를 영입하여 대출 포트폴리오 성장을 강화했습니다. 자산 품질은 2024년 1분기 1,340만 달러에서 760만 달러로 부실 자산이 감소하고, 순대손충당금 비율도 2024년 4분기 4.74%에서 0.60%로 크게 개선되었습니다.
Touchmark Bancshares (OTC Pink : TMAK) a publié ses résultats financiers du premier trimestre 2025, marquant une période de transition avec d'importants changements de direction et des ajustements stratégiques. Le bénéfice net a diminué de 48,4% pour atteindre 733 000 dollars contre 1,4 million de dollars au premier trimestre 2024. La société a nommé Bobby Krimmel nouveau président et CEO, succédant au Dr J.J. Shah, et a mis en place une nouvelle stratégie axée sur la croissance du marché local dans un rayon de 25 miles autour de leur siège à Alpharetta.
Les principaux indicateurs financiers ont montré une baisse du revenu net d'intérêts de 14,4%, à 2,9 millions de dollars, une diminution des prêts totaux de 16,3 millions de dollars (4,3%) et une augmentation du ratio d'efficacité à 59,22%. La banque a renforcé son équipe en recrutant de nouveaux banquiers, dont un spécialiste SBA, pour stimuler la croissance du portefeuille de prêts. La qualité des actifs s'est améliorée avec une baisse des actifs non performants de 13,4 millions au premier trimestre 2024 à 7,6 millions, et une réduction des décaissements nets à 0,60% contre 4,74% au quatrième trimestre 2024.
Touchmark Bancshares (OTC Pink: TMAK) veröffentlichte seine Finanzergebnisse für das erste Quartal 2025 und markierte damit eine Übergangsphase mit bedeutenden Führungswechseln und strategischen Anpassungen. Der Nettogewinn sank um 48,4% auf 733.000 US-Dollar im Vergleich zu 1,4 Millionen US-Dollar im ersten Quartal 2024. Das Unternehmen ernannte Bobby Krimmel zum neuen Präsidenten und CEO als Nachfolger von Dr. J.J. Shah und implementierte eine neue Strategie mit Fokus auf Wachstum im lokalen Markt innerhalb von 25 Meilen um den Hauptsitz in Alpharetta.
Wichtige Finanzkennzahlen zeigten einen Rückgang des Nettozinsertrags um 14,4% auf 2,9 Millionen US-Dollar, eine Abnahme der Gesamtkredite um 16,3 Millionen US-Dollar (4,3%) und eine Steigerung der Effizienzquote auf 59,22%. Die Bank verstärkte ihr Team durch neue Banker, darunter einen SBA-Spezialisten, um das Kreditportfolio auszubauen. Die Vermögensqualität verbesserte sich, da notleidende Aktiva von 13,4 Millionen US-Dollar im ersten Quartal 2024 auf 7,6 Millionen US-Dollar zurückgingen und Nettoabschreibungen von 4,74% im vierten Quartal 2024 auf 0,60% sanken.
- Asset quality improved with nonperforming assets decreasing by $5.8 million year-over-year
- Net charge-offs significantly improved to 0.60% from 4.74% in previous quarter
- Book value per share increased to $16.14 from $16.06
- Strategic hiring of new bankers to boost loan portfolio growth
- Net income declined 48.4% year-over-year to $733,000
- Net interest income fell 14.4% to $2.9 million
- Total loans decreased by $16.3 million (4.3%) during Q1
- Efficiency ratio worsened to 59.22% from 52.42% year-over-year
Key highlights of Touchmark Bancshares' results for the first quarter of 2025 include:
- The company hired Bobby Krimmel to succeed Dr. J.J. Shah as the President and CEO of Touchmark National Bank;
- One new SBA Banker was added; and
- New company strategy to grow local market customer relationships has been established.
"Our first quarter results reflected the beginning of a transition period for Touchmark to grow its balance sheet with an emphasis on developing local banking relationships in our primary market," said Bobby Krimmel. "We have defined our primary market as 25 miles from our home office in
"The reduction in net income during the first quarter of 2025 was driven by lower loan balances compared to the prior year. We hired two local bankers to help us grow our loan portfolio with one focused on SBA banking relationships and started during the first quarter of 2025 while the second banker was added in April 2025 with a focus on conventional lending opportunities. The company remains optimistic that our strategy to grow Touchmark with a relationship banking focus will deliver long-term, sustainable performance to our shareholders."
First Quarter 2025 Results of Operations
- Net income decreased
48.4% to$733,000 $1.4 million - Net interest income fell by
14.4% to$2.9 million $3.4 million - Total loans declined by
$16.3 million 4.3% , during the first quarter of 2025; - Efficiency increased to
59.22% compared to52.42% from the first quarter of 2024; - Total noninterest expense decreased by
11.3% to$1.8 million - Book value per share increased to
$16.14 $16.06
Asset Quality
- Nonperforming assets, net of government guarantees, remained at
$7.6 million $13.4 million - Net charge-offs to average loans declined to
0.60% for the first quarter of 2025 compared to4.74% for the fourth quarter of 2024; and - Allowance for credit losses represented
0.58% of total loans outstanding as of the first quarter of 2025.
About Touchmark Bancshares, Inc. and Touchmark National Bank
Touchmark Bancshares, Inc. is the holding company for Touchmark National Bank, a community bank founded in 2008 and headquartered in
Cautionary Note Regarding Forward Looking Statements
This news release may contain certain "forward-looking statements" that represent Touchmark's expectations or beliefs concerning future events and often use words or phrases such as "opportunities," "prospects," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," "intends" or similar expressions. Such forward-looking statements contained herein represent the current expectations, plans or forecast of Touchmark and are about matters that are inherently subject to risks and uncertainties. These statements are not guarantees of future results or performance and readers are cautioned not to place undue reliance on them, whether included in this news release or made elsewhere from time to time by Touchmark or on its behalf. Touchmark disclaims any obligation to update such forward-looking statements.
TOUCHMARK BANCSHARES, INC. AND SUBSIDIARY CONSOLIDATED BALANCE SHEETS | ||||||||
(unaudited) | ||||||||
March 31, | December 31, | |||||||
(dollars in thousands, except per share data) | 2025 | 2024(1) | ||||||
ASSETS | Cash and due from banks | $ | 725 | $ | 1,184 | |||
Interest-bearing deposits | 40,866 | 41,408 | ||||||
Federal funds sold | 5,175 | 5,175 | ||||||
Total cash and cash equivalents | 46,766 | 47,767 | ||||||
Securities: | ||||||||
Available-for-sale | 9,957 | 10,019 | ||||||
Equity securities | 1,598 | 1,654 | ||||||
Loans, net of deferred fees | 362,836 | 379,419 | ||||||
Allowance for credit losses | (2,092) | (2,358) | ||||||
Net loans | 360,744 | 377,061 | ||||||
Bank premises and equipment, net | 1,256 | 1,217 | ||||||
Other Real Estate | 6,888 | 6,888 | ||||||
Deferred tax asset | 1,079 | 1,112 | ||||||
Other assets | 4,133 | 4,573 | ||||||
TOTAL ASSETS | $ | 432,421 | $ | 450,291 | ||||
LIABILITIES | Deposits: | |||||||
Noninterest-bearing | $ | 13,676 | $ | 16,957 | ||||
Interest-bearing | 340,423 | 352,590 | ||||||
Total deposits | 354,099 | 369,547 | ||||||
Accounts payable and accrued liabilities | 6,077 | 9,331 | ||||||
TOTAL LIABILITIES | 360,176 | 378,878 | ||||||
SHAREHOLDERS' | Common stock - | |||||||
EQUITY | authorized; 4,475,891 shares issued and outstanding as of | |||||||
the periods presented | 45 | 45 | ||||||
Additional paid-in capital | 46,881 | 46,881 | ||||||
Retained earnings | 25,999 | 25,266 | ||||||
Accumulated other comprehensive loss | (680) | (779) | ||||||
TOTAL SHAREHOLDERS' EQUITY | 72,245 | 71,413 | ||||||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 432,421 | $ | 450,291 | ||||
(1) Derived from audited financial statements as of December 31, 2024. |
TOUCHMARK BANCSHARES, INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF INCOME (unaudited) | |||||||
Three Months Ended March 31, | |||||||
(dollars in thousands, except per share data) | 2025 | 2024 | |||||
INTEREST AND | Interest and fees on loans | $ | 6,202 | $ | 7,906 | ||
DIVIDEND | Income on investment securities | ||||||
INCOME | Taxable interest | 103 | 117 | ||||
Interest from federal funds sold and other | 488 | 798 | |||||
Total interest income | 6,793 | 8,821 | |||||
INTEREST | Interest on deposits | 3,855 | 5,389 | ||||
EXPENSE | Interest on borrowings | - | - | ||||
Total interest expense | 3,855 | 5,389 | |||||
Net interest income | 2,938 | 3,432 | |||||
Provision for credit losses | 295 | - | |||||
Net interest income after provision | 2,643 | 3,432 | |||||
NONINTEREST | |||||||
INCOME | Service fees on deposit accounts | 3 | 4 | ||||
Loan servicing fees | 110 | 124 | |||||
Other noninterest income | 49 | 391 | |||||
Total noninterest income | 162 | 519 | |||||
NONINTEREST | Salaries and employee benefits | 983 | 1,056 | ||||
EXPENSE | Net occupancy expense | 67 | 69 | ||||
Foreclosed Real Estate Expenses | 53 | 242 | |||||
Data processing expense | 94 | 85 | |||||
Referral Fees for Gov't Guaranteed Loans | 28 | 0 | |||||
Loan Collection Expense | 5 | 165 | |||||
Audits and exams expense | 45 | 42 | |||||
Board Expenses | 173 | 62 | |||||
Supervisory Assessments | 93 | 146 | |||||
Other noninterest expense | 295 | 204 | |||||
Total noninterest expense | 1,836 | 2,071 | |||||
Income before provision for income taxes | 969 | 1,880 | |||||
Provision for income taxes | 236 | 460 | |||||
Net income available to common shareholders | $ | 733 | $ | 1,420 | |||
Weighted average shares outstanding - basic | 4,475,891 | 4,475,891 | |||||
Weighted average shares outstanding - diluted | 4,630,473 | 4,630,473 | |||||
Earnings per share | $ | 0.16 | $ | 0.32 | |||
Diluted earnings per share | $ | 0.16 | $ | 0.31 | |||
TOUCHMARK BANCSHARES, INC. AND SUBSIDIARY CONSOLIDATED FINANCIAL HIGHLIGHTS (unaudited) | ||||||||||||||
For the Three Months Ended | ||||||||||||||
(dollars in thousands, except per share data) | March 31, | December 31, | September 30, | June 30, | March 31, | |||||||||
Results of Operations: | ||||||||||||||
Interest income | $ | 6,793 | $ | 7,301 | $ | 7,873 | $ | 7,832 | $ | 8,821 | ||||
Interest expense | 3,855 | 4,285 | 4,697 | 4,979 | 5,389 | |||||||||
Net interest income | 2,938 | 3,016 | 3,176 | 2,853 | 3,432 | |||||||||
Provision for credit losses | 295 | 2,240 | 150 | 186 | - | |||||||||
Non-interest income | 162 | 4 | 884 | 1,189 | 519 | |||||||||
Non-interest expense and non-controlling | 1,836 | 1,256 |
1,908 |
2,392 |
2,071 | |||||||||
Income before income taxes | 969 | (476) | 2,002 | 1,464 | 1,880 | |||||||||
Income taxes | 236 | (184) | 491 | 363 | 460 | |||||||||
Net income for common shareholders | $ | 733 | $ | (292) | $ | 1,511 | $ | 1,101 | $ | 1,420 | ||||
Per Share Data: | ||||||||||||||
Basic earnings per share | $ | 0.16 | $ | (0.07) | $ | 0.34 | $ | 0.25 | $ | 0.32 | ||||
Diluted earnings per share | $ | 0.16 | $ | (0.07) | $ | 0.33 | $ | 0.24 | $ | 0.31 | ||||
Book value per share | $ | 16.14 | $ | 15.95 | $ | 16.72 | $ | 16.32 | $ | 16.06 | ||||
Weighted average shares outstanding per | 4,475,891 | 4,475,891 | 4,475,891 | 4,475,891 | 4,475,891 | |||||||||
Weighted average shares outstanding per | 4,630,473 | 4,630,473 | 4,630,473 | 4,630,473 | 4,630,473 | |||||||||
Financial Condition Data and Ratios: | ||||||||||||||
Loans, net of deferred fees | $ | 362,836 | $ | 379,419 | $ | 389,679 | $ | 410,711 | $ | 435,918 | ||||
Allowance for credit losses | $ | (2,092) | $ | (2,358) | $ | (4,673) | $ | (4,858) | $ | (4,647) | ||||
Total assets | $ | 432,421 | $ | 450,291 | $ | 464,973 | $ | 480,229 | $ | 504,926 | ||||
Total deposits | $ | 354,099 | $ | 369,547 | $ | 382,641 | $ | 398,841 | $ | 424,339 | ||||
Net interest margin | 2.71 % | 2.72 % | 2.75 % | 2.35 % | 2.65 % | |||||||||
Efficiency | 58.68 % | 44.81 % | 46.56 % | 57.36 % | 51.99 % | |||||||||
Asset Quality Data and Ratios: | ||||||||||||||
Total nonperforming assets | $ | 23,042 | $ | 23,039 | $ | 27,735 | $ | 30,089 | $ | 29,971 | ||||
Total nonperforming assets, net of | 7,553 | 7,552 | 11,059 | 13,450 | 13,423 | |||||||||
Nonperforming assets to total assets | 5.33 % | 5.13 % | 5.95 % | 6.26 % | 5.93 % | |||||||||
Nonperforming assets to total assets, net of | 1.75 % | 1.68 % | 2.37 % | 2.80 % | 2.65 % | |||||||||
Allowance for credit losses to total loans | 0.58 % | 0.62 % | 1.20 % | 1.18 % | 1.07 % | |||||||||
Net charge-offs (recoveries) to average loans | 0.60 % | 4.74 % | 0.34 % | (0.01 %) | 0.31 % | |||||||||
View original content:https://www.prnewswire.com/news-releases/touchmark-bancshares-inc-reports-first-quarter-results-302451537.html
SOURCE Touchmark Bancshares, Inc.
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