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Tri-County Financial Group, Inc. reports banking-company developments tied to First State Bank, its wholly owned Illinois state-chartered bank, and its OTCQX-traded common stock under the symbol TYFG. Company news centers on quarterly and annual financial results, including net income, net interest income, non-interest income, non-interest expense, credit loss provisions or recoveries, and asset-quality measures.
Recurring updates also describe the company’s available-for-sale debt securities portfolio, capital levels such as its Tier 1 leverage ratio, loan-loss allowance trends, nonperforming loans, and shareholder dividends. The coverage reflects a community-bank holding structure where earnings, credit quality, securities classification, and capital management are central operating themes.
Tri-County Financial Group, Inc. (OTCQX: TYFG) reported fourth quarter 2022 financial results, showing net income of $2.3 million ($0.92 per share), up from $1.9 million ($0.79 per share) a year earlier. Net interest income slightly decreased to $10.7 million, reflecting a net interest margin of 3.27%. Noninterest income fell by 36% to $2.5 million due to decreased mortgage volume. Total loans rose by 19% to $1.211 billion, with nonperforming loans at 0.25%. The company declared a regular dividend of $0.20 and a special dividend of $0.10 per share.
Tri-County Financial Group has declared a quarterly dividend of 20 cents per share, alongside a special dividend of 10 cents per share. Both dividends are payable on January 12, 2023, to shareholders of record on December 31, 2022. This move underscores the company's commitment to returning value to its shareholders amid a robust financial standing.
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.