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Third Century Bancorp (TDCB) is a prominent financial services company primarily engaged in providing a wide range of banking products and services. Known for its customer-centric approach, Third Century Bancorp offers personal and business banking solutions, including savings accounts, checking accounts, loans, and investment services. The company has been recognized for its strong financial health and robust operational efficiency.
In recent years, Third Century Bancorp has made significant advances in digital banking, enhancing customer experience through user-friendly online and mobile platforms. The company remains committed to innovation, continually updating its service offerings to meet the evolving needs of its clientele. Recent achievements include the successful launch of new financial products tailored to small and medium-sized enterprises (SMEs), which has been well-received in the market.
Third Century Bancorp maintains strong partnerships with leading financial technology firms to integrate cutting-edge tools and technologies, ensuring a seamless banking experience for its customers. The company’s strategic initiatives focus on expanding its market presence while maintaining high standards of customer service and regulatory compliance.
Financially, Third Century Bancorp boasts a solid balance sheet with consistent growth in assets and profitability. The company's prudent risk management practices and diversified portfolio have contributed to its stability and resilience in the face of economic fluctuations.
Overall, Third Century Bancorp continues to strengthen its position as a reliable and forward-thinking financial services provider, committed to delivering value to its shareholders and customers alike.
Third Century Bancorp (TDCB) reported net income of $574,000 for Q2 2022, up from $508,000 for Q2 2021, translating to $0.50 per basic share. This increase was driven by a $306,000 rise in net interest income, largely from a 20.73% uptick in interest income due to asset growth. However, non-interest income dropped by $302,000, largely from a 42.40% decrease in the gain on sold mortgages. Total assets grew by 12.90% to $272.7 million. Stockholders’ equity fell to $8.7 million, impacted by $13.5 million in unrealized losses from securities.
Third Century Bancorp (OTCPINK: TDCB) declared a $0.10 dividend per share for shareholders of record on June 15, 2022, with an expected payment date of July 5, 2022. The bank has $261 million in assets as of March 31, 2022, and operates in Franklin, Trafalgar, and Greenwood, Indiana. Established in 1890, Mutual Savings Bank is its primary banking institution.
Third Century Bancorp reported a net income of $367,000 for Q1 2022, down 11.35% from $414,000 in Q1 2021. Earnings per share were $0.31, compared to $0.35 a year earlier. Despite a $198,000 drop in non-interest income, primarily due to decreased mortgage loan sales amid rising interest rates, net interest income rose by $173,000, supported by lower loan loss provisions. Total assets increased by $20 million to $261.6 million, while total deposits rose by $17.3 million. Shareholder equity fell to $16.5 million.
Third Century Bancorp (TDCB) reported a net income of $634,000 for Q4 2021, a significant increase from $311,000 in Q4 2020. For the full year, net income rose 32.17% to a record $2.3 million, or $2.00 per basic share. In Q4, net interest income increased 13.83% to $1.8 million, driven by higher interest income. Total assets expanded by 15.23% to $241.6 million. Despite challenges in 2022, the company is optimistic about continued growth.
Third Century Bancorp (TDCB) announced a dividend of $0.09 per share, declared on February 17, 2022, for shareholders of record on March 15, 2022. Payment is scheduled for April 4, 2022. Founded in 1890, Mutual Savings Bank, the bank’s parent company, holds $242 million in assets as of December 31, 2021. The institution operates branches in Franklin, Trafalgar, and Greenwood, Indiana.
Third Century Bancorp (TDCB) has successfully completed a private placement of $10 million in 3.75% Fixed-to-Floating Rate Subordinated Notes due February 15, 2032. The Notes will qualify as Tier 2 capital and the net proceeds will be used for various corporate purposes, including supporting the Bank and repurchasing common stock. The interest on the Notes is fixed at 3.75% for the first five years, transitioning to a floating rate thereafter. CEO David A. Coffey remarked on the favorable terms and positive implications for growth and shareholder value.
Third Century Bancorp has extended its stock repurchase program to acquire the remaining 37,800 shares of common stock, initially authorized in December 2020. To date, 12,200 shares have been repurchased at an average price of $15.52 per share. The program has no expiration date and allows for purchases in various market conditions. Management will decide on share repurchases based on stock availability, market conditions, and financial performance. No additional shares will be repurchased until after the release of year-end 2021 earnings.
Third Century Bancorp (OTCPINK: TDCB) announced a dividend of
Third Century Bancorp (TDCB) reported a net income of $784,000 for Q3 2021, significantly up from $532,000 in Q3 2020, marking a 47.37% increase. Earnings per share rose to $0.66 from $0.45. The growth was driven by a $165,000 boost in net interest income and a $165,000 reduction in non-interest expenses, particularly due to lower personnel costs. Total assets rose 14.16% to $239.3 million, largely fueled by a 19.36% increase in total deposits. However, non-interest income decreased by 10.66% compared to the previous year.
Third Century Bancorp, parent company of Mutual Savings Bank, announced a dividend of $0.09 per share on August 19, 2021, for shareholders of record on September 15, 2021. The payable date for the dividend is October 4, 2021. The bank, founded in 1890, operates with $230 million in assets as of June 30, 2021, and has locations in Franklin, Trafalgar, and Greenwood, Indiana.
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