North Dallas Bank & Trust Co. Announces Third Quarter Earnings

Rhea-AI Summary

NDBT (OTC: NODB), an independent community bank, reported a net income of $2,406,349 or $0.94 per share for Q3 2022, up from $2,151,043 or $0.84 in Q3 2021, reflecting strong loan growth. The bank's total assets reached $1,714,574,342, with total loans of $977,124,602 and deposits of $1,549,447,060. The provision for loan losses was $(1,030,000). These figures highlight NDBT's ongoing commitment to financial growth and stability.

Positive

• Net income increased by 11.82% year-over-year.
• Earnings per share rose to $0.94 from $0.84.
• Total assets grew to $1,714,574,342.

Negative

• Provision for loan losses increased to $(1,030,000), indicating potential increased risk.

DALLAS, Oct. 11, 2022 (GLOBE NEWSWIRE) -- NDBT (North Dallas Bank & Trust Co.) (OTC: NODB), an independent community bank established in 1961, today announced net earnings of $2,406,349 or $0.94 per share for the three months ending September 30, 2022, compared to $2,151,043 or $0.84 per share for the same period in 2021. The increase in earnings is primarily due to loan growth experienced in 2022.

Earnings were prepared internally without review by the company’s independent accountants. Financial results are the results of past performance, events and market conditions, and are not a guarantee for future results. Any forward-looking implications derived from this information may differ materially from actual results.

Further information about the dividend declaration is available from Glenn Henry, Chief Financial Officer, by contacting NDBT.

ABOUT NDBT
Founded in 1961, NDBT (North Dallas Bank & Trust Co.) is an independent community bank with five banking centers located in Dallas, Addison, Frisco, Las Colinas, and Plano. Headquartered on the corner of Preston Road and LBJ at 12900 Preston Road in Dallas, NDBT is dedicated to helping people make smarter choices in business and life by offering authentic banking solutions, wealth management, and innovative online banking tools. NDBT is Member FDIC and an Equal Housing Lender. For more information, call 972.716.7100, or visit online at www.ndbt.com.

Media Contact:
Brian C. Jensen
972-716-7124
brian.jensen@ndbt.com

FINANCIAL HIGHLIGHTS
	Three Months Ended						Nine Months Ended
	September 30						September 30
Income Statement	2022			2021			2022			2021
Net Interest Income	11,254,829			8,584,331			32,213,032			25,397,876
Provision for Loan Losses	(1,030,000	)		0			(2,880,000	)		(550,000	)
Noninterest Income	1,428,266			1,344,387			4,452,284			3,898,325
Noninterest Expenses	(8,684,486	)		(7,230,691	)		(25,389,764	)		(21,478,865	)
Income Before Taxes & Extraordinary	2,968,609			2,698,027			8,395,552			7,267,336
Income Tax	(562,260	)		(546,984	)		(1,632,059	)		(1,466,300	)
Income Before Extraordinary	2,406,349			2,151,043			6,763,493			5,801,036
Extraordinary	0			0			0			0
Net Income	2,406,349			2,151,043			6,763,493			5,801,036
Earnings per Share	0.94			0.84			2.63			2.26
							Nine Month Average
	As of September 30						Ended September 30
Balance Sheet	2022			2021			2022			2021
Total Assets	1,714,574,342			1,613,009,406			1,722,251,428			1,557,024,149
Total Loans	977,124,602			699,461,871			929,087,562			686,607,185
Deposits	1,549,447,060			1,432,490,642			1,551,142,503			1,378,994,890
Stockholders' Equity	155,002,096			171,295,732			162,692,072			170,563,720

(Prepared internally without review by our independent accountants)

FAQ

What are NDBT's earnings for Q3 2022?

NDBT reported net earnings of $2,406,349 or $0.94 per share for Q3 2022.

How does NDBT's Q3 2022 performance compare to Q3 2021?

In Q3 2022, NDBT's net income increased from $2,151,043 or $0.84 per share in Q3 2021.

What is NDBT's total assets as of September 30, 2022?

NDBT's total assets reached $1,714,574,342 as of September 30, 2022.

How much did NDBT grow in total loans for Q3 2022?

NDBT reported total loans of $977,124,602 for Q3 2022.

What was the provision for loan losses for NDBT in Q3 2022?

The provision for loan losses for NDBT in Q3 2022 was $(1,030,000).