Welcome to our dedicated page for Tri-County Financial news (Ticker: TYFG), a resource for investors and traders seeking the latest updates and insights on Tri-County Financial stock.
Tri-County Financial Group (TYFG) provides comprehensive community banking services through its First State Bank subsidiary, with strategic focus on asset quality and regional growth. This news hub offers investors and stakeholders timely updates about the company's financial developments and market position.
Access authoritative reporting on TYFG's quarterly earnings, strategic initiatives, and regulatory filings. Our curated collection features press releases about loan portfolio adjustments, deposit growth strategies, and leadership updates – all essential for understanding this regional banking leader's trajectory.
Key coverage areas include detailed analyses of interest margin trends, non-performing loan ratios, and community reinvestment programs. Bookmark this page for immediate access to TYFG's latest financial disclosures and operational milestones, carefully vetted for accuracy and relevance.
Tri-County Financial Group reported a third-quarter net income of $5.6 million ($2.27 per share), up from $4.1 million ($1.64 per share) last year.
Net interest income increased by 5% to $11.8 million, while noninterest income fell 42% to $2.9 million due to reduced mortgage volume. Total loans grew 13% to $1.14 billion, and nonperforming loans decreased to 0.24%. The provision for loan loss was a negative $3.85 million. Deposits declined by 2%, but the investment portfolio surged 79% to $244.3 million.
Tri-County Financial Group Inc. (OTCQX: TYFG) announced a stock repurchase program on June 14, 2022, allowing for up to $5.0 million in share buybacks. This amount equates to approximately 116,000 shares based on the closing price of $43.10 on the same day. The program offers flexibility in execution, permitting purchases through open market transactions or privately negotiated means, with decisions based on stock price, trading volume, and market conditions. Investors can contact Raymond James for participation details.
Tri-County Financial Group (TYFG) reported a first-quarter 2022 net income of $1.9 million ($0.75/share), down from $3.6 million ($1.47/share) year-over-year. Net interest income rose to $10.5 million, while noninterest income fell 53% to $2.8 million. Total loans increased 3% to $1.026 billion, and deposits grew 5% to $1.253 billion. The company declared a dividend of $0.20/share. Despite the decline in net income driven by mortgage activity slowdown, the firm retains strong asset quality with nonperforming loans at 0.27% and solid capital ratios.
Tri-County Financial Group, Inc. (OTCQX: TYFG) reported a net income of $1.9 million ($0.79 per share) for Q4 2021, down from $4.7 million ($1.91 per share) in Q4 2020. Net interest income rose to $10.8 million, an increase of $329,000 year-over-year, while noninterest income fell by 57% to $5.9 million. Total loans declined by $29 million to $1.024 billion, with mortgage production dropping by 57%. Deposits increased by 6% year-over-year, totaling $1.207 billion.
Tri-County Financial Group (OTCQX: TYFG) reported a net income of $4.1 million ($1.64 per share) for Q3 2021, down from $7.1 million ($2.87 per share) a year earlier. Net interest income rose by 26% to $11.2 million, with a net interest margin of 3.42%. Noninterest income fell 53% to $8.8 million, largely due to a decline in mortgage volume. Noninterest expense decreased 16% to $14.0 million. Total loans decreased to $1.005 billion, down 5%. The Company declared a dividend of $0.15 per share.
Tri-County Financial Group (TYFG) reported second-quarter 2021 net income of $3.6 million ($1.44 per share), down from $5.1 million ($2.08 per share) year-over-year. Net interest income rose 18% to $10.6 million, with a net interest margin of 3.31%. However, noninterest income fell 43% to $9.7 million, primarily due to reduced mortgage volume. Total loans decreased 3% to $1.02 billion, and the provision for loan loss dropped to $450,000. Deposits grew 9%, bolstered by economic relief programs.
Tri-County Financial Group (OTCQX: TYFG) announced a new stock repurchase program on May 11, 2021, approved by its Board of Directors. The program allows for the repurchase of up to $5.0 million in common stock, equating to approximately 120,000 shares based on the $42.00 closing price on May 6, 2021. The shares can be repurchased through various means, including open market and privately negotiated transactions, with the timing and number of shares contingent on market conditions and company discretion.
Tri-County Financial Group reported a net income of $3.6 million ($1.47 per share) for Q1 2021, marking a 13% increase from the previous year's $3.2 million. Net interest income rose 17% to $10.2 million, driven by growth in mortgage banking fees. Noninterest income also grew by 11% to $6.0 million. Total deposits surged 18% year-over-year, reaching $1.2 billion. However, nonperforming loans rose slightly to 0.55% of total loans, and noninterest expenses increased 13% to $10.7 million.
Tri-County Financial Group (TYFG) reported strong financial results for Q4 2020, showcasing a net income of $5.8 million ($2.36 per share), significantly up from $1.8 million ($0.74 per share) in Q4 2019. The company achieved record annual earnings of $20.1 million, a 127% increase from $8.9 million in 2019. Net interest income rose to $38.8 million and noninterest income surged to $35.9 million, largely driven by a 155% increase in mortgage banking fees. Despite a 15% rise in noninterest expenses, robust loan growth and a solid capital position underscore the company’s positive trajectory.
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