Territorial Bancorp Inc - TBNK STOCK NEWS

Territorial Bancorp Inc. (NASDAQ: TBNK) held its 2021 Annual Meeting of Stockholders on May 13, 2021. During the meeting, stockholders elected Allan S. Kitagawa and John M. Ohama to serve three-year terms on the Board of Directors. The appointment of Moss Adams LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2021, was ratified. Additionally, stockholders approved the advisory compensation for the Company’s named executive officers. Territorial Savings Bank, which operates 29 branches in Hawaii, has been serving since 1921.

Territorial Bancorp Inc. (NASDAQ: TBNK) has launched a tenth stock repurchase program, allowing up to $5 million in share buybacks. The program reflects management's confidence as Hawaii's economy reopens. Repurchases may occur through open market or private transactions, discretionally based on market conditions and financial performance. While the program aims to bolster shareholder value, it can be suspended or modified based on liquidity and market factors. Forward-looking statements indicate potential risks, particularly relating to the ongoing impact of the COVID-19 pandemic.

Territorial Bancorp (NASDAQ: TBNK) announced a quarterly cash dividend of $0.23 per share, payable on May 27, 2021, to stockholders of record as of May 13, 2021. CEO Allan Kitagawa noted the recovery of Hawaii's economy in 2021 as businesses reopen and visitor numbers rise. The company's asset quality and capital remain strong despite challenges posed by COVID-19.

Territorial Bancorp, Inc. (NASDAQ: TBNK) reported a net income of $5.01 million for the three months ended March 31, 2021, up from $4.47 million in the same period of 2020. Earnings per share rose to $0.55. The board declared a quarterly dividend of $0.23, marking the 45th consecutive payout. Interest income decreased to $15.11 million, driven by lower yields and loan balances. Noninterest income increased to $2.24 million, and total assets reached $2.14 billion. The company showed strong asset quality with a low delinquency rate.

Territorial Bancorp Inc. (NASDAQ: TBNK) has declared a quarterly cash dividend of $0.23 per share, set to be paid on February 25, 2021, to shareholders on record as of February 11, 2021. In a statement, CEO Allan Kitagawa acknowledged the challenges faced in 2020 due to declining interest rates, which affected asset yields; however, he highlighted the company's strong asset quality and capital position as contributing factors to a successful year.

Territorial Bancorp Inc. (TBNK) reported net income of $5.52 million for the three months ended December 31, 2020, up from $5.05 million in the same period of 2019. Fully diluted earnings per share increased to $0.60 from $0.54. Total interest income fell to $16.04 million, a decrease primarily due to lower loan and investment securities yields. The Board approved a $0.23 quarterly dividend, marking the 44th consecutive payment. Total assets rose to $2.11 billion. Notably, non-performing assets increased to $4.41 million from $736,000 year-over-year.

Territorial Bancorp Inc. (NASDAQ: TBNK) announced a special cash dividend of $0.10 per share, payable on January 20, 2021, to shareholders of record as of January 6, 2021. Chairman and CEO Allan Kitagawa highlighted that this special dividend, along with other dividends in 2020, allows investors who purchased shares at the IPO price of $10.00 to receive a total of 10.2% in dividends on their initial investment. The company acknowledges challenging circumstances but remains focused on delivering value for shareholders.

Territorial Bancorp Inc. (NASDAQ: TBNK) announced a quarterly cash dividend of $0.23 per share, payable on November 25, 2020, to stockholders of record by November 12, 2020. Chairman and CEO Allan Kitagawa commented on the challenges posed by the recession and lower mortgage interest rates due to COVID-19, yet expressed confidence in the company's performance during the third quarter, highlighting strong asset quality and capital position.

Territorial Bancorp Inc. (NASDAQ: TBNK) reported a net income of $4.32 million for the three months ended September 30, 2020, down from $5.37 million the previous year. The decline was due to an $884,000 drop in loan sales gains and an increased $581,000 loan loss provision. Fully diluted earnings per share decreased from $0.57 to $0.47. Despite challenges from COVID-19, asset quality remains strong with non-performing assets at 0.10% of total assets. A quarterly cash dividend of $0.23 was approved, representing the 43rd consecutive dividend. Total assets increased to $2.11 billion.