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) 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.
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.
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.
Territorial Bancorp reported net income of $4.20 million for Q4 2021, a decline from $5.52 million in Q4 2020. The decrease was due to lower income from security sales and loans. The net interest margin remained stable at 2.72%. Shareholders received a special dividend of $0.10 and a quarterly dividend of $0.23. Total assets rose to $2.13 billion, with a notable increase in investment securities. However, loans receivable decreased to $1.30 billion. The company's stockholders equity rose to 12.03% of total assets, reflecting prudent capital management.
Territorial Savings Bank has announced temporary closures of its Pearl City and Kalihi Branches, effective January 12, 2022, due to staffing challenges stemming from COVID-19. Additionally, the Kapahulu Branch is closed for repairs following rain damage. The bank will update on reopening dates as soon as staffing is resolved. Established in 1921, Territorial Savings Bank operates 29 branches across Hawaii, providing a range of residential mortgage loans and competitive rates on checking and savings accounts.
Territorial Bancorp Inc. (NASDAQ: TBNK) announced a special cash dividend of $0.10 per share, payable on December 23, 2021, to shareholders of record by December 11, 2021. Chairman Allan Kitagawa highlighted that despite challenging conditions, the company has delivered favorable results for shareholders. With this special dividend and others paid in 2021, investors who participated in the IPO at $10.00 per share have earned dividends totaling 10.2% of their initial investment.
Territorial Bancorp Inc. (NASDAQ: TBNK) declares a quarterly cash dividend of $0.23 per share, payable on November 24, 2021, to stockholders of record as of November 11, 2021. CEO Allan Kitagawa expressed confidence in the company’s performance amid challenges posed by COVID-19, highlighting robust residential real estate activity and strong mortgage loan application levels in Hawaii. The company maintains a solid capital position, liquidity, and asset quality.
Territorial Bancorp Inc. (NASDAQ: TBNK) reported a net income of $4.16 million for Q3 2021, a slight decline from $4.32 million in Q3 2020. Fully-diluted earnings per share remained stable at $0.46. The net interest margin improved to 2.72% from 2.54% in Q2 2021. Total interest income decreased to $15.28 million, primarily due to a drop in loan interest income. The company declared a quarterly cash dividend of $0.23, marking the 47th consecutive dividend. Total assets grew to $2.12 billion, while loans receivable declined by $104.73 million, reflecting greater loan repayments than new originations.
Territorial Bancorp Inc. (TBNK) has successfully completed its tenth stock repurchase program, repurchasing 198,773 shares at an average price of $25.09, totaling $5,000,000. This repurchase accounts for 31.92% of shares issued since its IPO in 2009, amounting to 3,904,450 shares repurchased overall. The Board regularly evaluates capital management options, including future stock repurchase programs, influenced by market conditions and financial performance.
Territorial Bancorp Inc. (NASDAQ: TBNK) announced a quarterly cash dividend of $0.23 per share, payable on August 26, 2021, to stockholders of record as of August 12, 2021. CEO Allan Kitagawa noted Hawaii's improving economy with increased tourism, which positions the company favorably for customer banking needs. The board emphasizes capital return to shareholders through dividends and share repurchases, maintaining a strong balance sheet and asset quality amid ongoing economic recovery.
FAQ
What is the current stock price of Territorial Bancorp (TBNK)?
What is the market cap of Territorial Bancorp (TBNK)?
What services does Territorial Bancorp Inc. offer?
Where is Territorial Bancorp Inc. headquartered?
How many branches does Territorial Savings Bank operate?
What is the latest net income reported by Territorial Bancorp Inc.?
What recent merger has Territorial Bancorp Inc. announced?
How have interest rate changes impacted Territorial Bancorp Inc.?
What steps has Territorial Bancorp Inc. taken to enhance liquidity?
Does Territorial Bancorp Inc. offer dividends?
What is the total asset value managed by Territorial Bancorp Inc.?
What community initiatives is Territorial Bancorp Inc. involved in?
