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Territorial Bancorp Inc. - TBNK STOCK NEWS

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.

Rhea-AI Summary

Territorial Bancorp Inc. (TBNK) reported net income of $3.89 million or $0.44 per diluted share for Q3 2022.

Net interest income increased by 3.45% to $14.34 million, while total interest income rose by 5.73% to $16.15 million.

The board approved a quarterly cash dividend of $0.23 per share, marking the 52nd consecutive dividend.

Despite rising interest rates, strong capital and asset quality are expected to sustain community service and enhance shareholder value.

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Territorial Bancorp Inc. (NASDAQ: TBNK) has announced a quarterly cash dividend of $0.23 per share, payable on August 25, 2022, to stockholders of record by August 11, 2022. The company reported a 7.54% increase in net interest income and a 4.55% rise in fully diluted earnings per share for Q2 2022. Chairman Allan Kitagawa stated the company's strong capital and asset quality positions it well in uncertain times, with intentions to enhance shareholder value through dividends and share repurchases.

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Territorial Bancorp Inc. (NASDAQ: TBNK) reported a net income of $4.11 million for Q2 2022, slightly up from $4.06 million in Q2 2021. Net interest income rose by 7.54% to $14.07 million, with an improved net interest margin of 2.72%. Fully-diluted earnings per share increased by 4.55% to $0.46. The company also declared a quarterly dividend of $0.23, marking its 50th consecutive payout. Total assets increased to $2.18 billion as of June 30, 2022, with total deposits up by $47.76 million to $1.73 billion.

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Territorial Bancorp (NASDAQ: TBNK) completed its eleventh stock repurchase program, buying back 220,029 shares for $5 million at an average price of $22.66 per share. This brings the total shares repurchased since 2009 to 4,124,479, representing 33.72% of its initial public offering. The Board of Directors continuously evaluates capital management strategies, including future repurchase programs, contingent on market conditions, stock pricing, and financial performance.

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Territorial Bancorp Inc. (NASDAQ: TBNK) held its 2022 Annual Meeting of Stockholders on May 19, 2022, in Honolulu, Hawaii. During the meeting, Kirk W. Caldwell, Francis E. Tanaka, and Jennifer Isobe were elected to the Board of Directors for three-year terms. Additionally, stockholders ratified the appointment of Moss Adams LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2022. The meeting also involved an advisory vote on the compensation of named executive officers.

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On April 28, 2022, Territorial Bancorp Inc. (TBNK) announced a quarterly cash dividend of $0.23 per share, payable on May 26, 2022, to stockholders of record as of May 12, 2022. CEO Allan Kitagawa noted a challenging first quarter but highlighted an increase in net interest income. The company aims to enhance shareholder value through dividends and share repurchases, leveraging its strong capital and asset quality as Hawaii's economy improves.

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Territorial Bancorp Inc. (TBNK) reported a net income of $4.71 million for Q1 2022, down from $5.01 million in Q1 2021. However, net interest income increased by $598,000 to $13.80 million, with a net interest margin rise to 2.72%. The company also commenced its 11th share repurchase program and declared a quarterly cash dividend of $0.23 per share, marking its 49th consecutive dividend payment. Total assets remained stable at $2.13 billion, while stockholders' equity grew to $257.98 million.

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Territorial Bancorp Inc. (NASDAQ: TBNK) has announced its eleventh stock repurchase program, allowing for the buyback of up to $5,000,000 of its shares. This decision reflects the company's confidence in the ongoing economic recovery post-pandemic. Share repurchases may occur through open market transactions or block trades and will depend on market conditions and financial performance. The program is discretionary and may be suspended or modified under various factors.

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Territorial Savings Bank will reopen its Pearl City and Kalihi Branches on February 7, 2022, following temporary closures due to COVID-related staffing issues. Senior Vice President Robert Lee expressed gratitude to staff and customers for their adherence to health protocols, which facilitated the swift recovery. The bank continues to emphasize its contact-free banking options, including mobile, online, and phone banking, ensuring customer safety during ongoing challenges. Established in 1921, Territorial Savings Bank operates 29 branches across Hawaii, offering various mortgage products and competitive savings rates.

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Territorial Bancorp Inc. (NASDAQ: TBNK) announced a $0.23 quarterly cash dividend, payable on February 24, 2022, to shareholders on record as of February 10, 2022. Despite challenges in Q4 2021 due to low interest rates affecting asset yields, CEO Allan Kitagawa noted improvements in Hawaii's economy and the company’s robust balance sheet positioning it to serve the community effectively.

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FAQ

What is the current stock price of Territorial Bancorp (TBNK)?

The current stock price of Territorial Bancorp (TBNK) is $9.73 as of December 31, 2024.

What is the market cap of Territorial Bancorp (TBNK)?

The market cap of Territorial Bancorp (TBNK) is approximately 77.5M.

What services does Territorial Bancorp Inc. offer?

Territorial Bancorp Inc. offers FDIC-insured deposit products and a variety of loan products, including residential mortgages, commercial mortgages, and home equity loans.

Where is Territorial Bancorp Inc. headquartered?

The company is headquartered in Honolulu, Hawaii.

How many branches does Territorial Savings Bank operate?

Territorial Savings Bank operates 29 branch offices across Hawaii.

What is the latest net income reported by Territorial Bancorp Inc.?

The latest net income reported is $1.50 million for the three months ended June 30, 2023.

What recent merger has Territorial Bancorp Inc. announced?

On April 29, 2024, Territorial Bancorp Inc. announced a merger with Hope Bancorp Inc., expected to be completed subject to regulatory and shareholder approvals.

How have interest rate changes impacted Territorial Bancorp Inc.?

Increased short-term interest rates by the Federal Reserve have raised the company’s cost of funds, leading to a decline in net interest margin.

What steps has Territorial Bancorp Inc. taken to enhance liquidity?

The company has obtained additional Federal Home Loan Bank advances to bolster its liquidity.

Does Territorial Bancorp Inc. offer dividends?

Yes, the company offers quarterly cash dividends, with the latest being $0.23 per share announced for August 25, 2023.

What is the total asset value managed by Territorial Bancorp Inc.?

As of the latest reports, Territorial Bancorp Inc. manages $2.22 billion in total assets.

What community initiatives is Territorial Bancorp Inc. involved in?

The company supports local causes and maintains a strong employee base of 275 individuals, demonstrating its community and corporate responsibility.
Territorial Bancorp Inc.

Nasdaq:TBNK

TBNK Rankings

TBNK Stock Data

77.52M
7.24M
18.03%
43.86%
0.16%
Banks - Regional
Savings Institution, Federally Chartered
Link
United States of America
HONOLULU