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. (NASDAQ: TBNK), headquartered in Honolulu, Hawaii, operates as a bank holding company for Territorial Savings Bank. Established in 1921, the bank has been providing personal and business banking services with a focus on friendly, island-style service. As of the latest reports, the company manages $2.22 billion in total assets and houses a network of 29 branches across Hawaii.
Core Services:
- Deposit Products: Territorial Bancorp offers a range of FDIC-insured deposit products including passbook and statement savings accounts, certificates of deposit, money market accounts, and checking accounts.
- Loan Products: The company provides one-to-four-family residential mortgage loans, construction loans, commercial mortgages, home equity loans, and lines of credit.
Financial Highlights:
- For the three months ended June 30, 2023, the company reported a net income of $1.50 million or $0.17 per diluted share.
- On July 28, 2023, the Board of Directors approved a quarterly cash dividend of $0.23 per share, payable on August 25, 2023.
Recent Developments:
- Interest Rate Impacts: The Federal Reserve's increase in short-term interest rates has raised the company's cost of funds, leading to a decline in net interest margin.
- Liquidity Enhancements: The company has bolstered its liquidity levels through additional Federal Home Loan Bank advances.
- Merger News: On April 29, 2024, Territorial Bancorp announced a merger agreement with Hope Bancorp Inc., expected to close subject to regulatory and shareholder approval.
Community and Corporate Responsibility: Territorial Bancorp is a prominent community player, supporting local causes and maintaining a strong employee base of 275 individuals.
For more detailed information, please visit Territorial Savings Bank.
Territorial Bancorp Inc. (NASDAQ: TBNK) announced a quarterly cash dividend of $0.23 per share, payable on February 23, 2023, to stockholders of record on February 9, 2023. CEO Allan Kitagawa expressed confidence in the company’s strong capital and asset quality, which are expected to sustain performance amid challenging interest rate conditions. Additionally, TBNK revealed its twelfth stock repurchase program and highlighted cost-saving measures from moving to less expensive headquarters. The company remains focused on enhancing shareholder value despite potential economic uncertainties.
Territorial Bancorp (NASDAQ: TBNK) reported a net income of $3.45 million for Q4 2022, a decline from $4.20 million in Q4 2021. The bank announced its twelfth share repurchase program and paid a special dividend of $0.10 per share. The quarterly cash dividend of $0.23 is set for payment on February 23, 2023. Total interest income rose to $16.22 million, driven by higher earnings from investment securities, although net interest income decreased to $13.27 million. Total assets increased to $2.17 billion, and stockholders' equity grew marginally to $256.55 million.
Territorial Bancorp Inc. (NASDAQ: TBNK) has declared a special cash dividend of $0.10 per share, payable on December 29, 2022, to shareholders of record as of December 19, 2022. Despite ongoing economic uncertainties due to COVID-19 and inflation, Chairman Allan Kitagawa expressed confidence in rewarding shareholders with this dividend. The announcement highlights the company's commitment to returning value to its investors amidst a challenging market environment.
Territorial Bancorp Inc. (NASDAQ: TBNK) announced its twelfth stock repurchase program, allowing the repurchase of up to $5 million of outstanding shares. The Board of Directors believes this move will enhance shareholder value and reflects confidence in ongoing economic recovery. Shares may be purchased in open market or private transactions, with management determining attractive pricing. Repurchases are subject to market conditions and the Company’s financial health. The program can be modified or terminated at management's discretion.
Territorial Bancorp Inc. (NASDAQ: TBNK) has announced a quarterly cash dividend of $0.23 per share, payable on November 23, 2022, to stockholders of record as of November 10, 2022. In Q3 2022, the company recorded a 5.73% rise in total interest income and a 3.45% increase in net interest income, despite higher interest expenses due to rising rates. The CEO noted the company's strong capital and asset quality, affirming a commitment to enhancing shareholder value through dividends and share repurchases.
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