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TOUCHSTONE BANKSHARES - TSBA STOCK NEWS

Welcome to our dedicated page for TOUCHSTONE BANKSHARES news (Ticker: TSBA), a resource for investors and traders seeking the latest updates and insights on TOUCHSTONE BANKSHARES stock.

Touchstone Bankshares (TSBA) is a community banking leader providing personalized financial services across Virginia and North Carolina. This page serves as the definitive source for verified news and official announcements related to TSBA’s operations, financial performance, and strategic initiatives.

Investors and stakeholders will find timely updates on earnings reports, merger activity, leadership developments, and regulatory compliance matters. Our curated collection ensures access to both press releases and third-party analysis while maintaining strict factual accuracy.

Key coverage areas include quarterly financial disclosures, credit quality updates, digital banking innovations, and community impact initiatives. All content piece undergoes verification to align with SEC regulations and financial reporting standards.

Bookmark this page for streamlined access to TSBA’s evolving story within the competitive regional banking landscape. Check back regularly for objective updates that prioritize transparency and operational clarity.

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Touchstone Bankshares, Inc. (OTC Pink: TSBA) has declared a pro rata annual cash dividend of $0.16 per share for both common and preferred stockholders. This dividend is in anticipation of the company's upcoming merger with First National (NASDAQ: FXNC). The dividend will be paid on September 27, 2024, to shareholders of record as of September 20, 2024.

The dividend amount is calculated based on the elapsed days in 2024 until the expected merger closing, minus the period for which Touchstone shareholders are likely to receive First National dividends post-merger. The merger is anticipated to close in the fourth quarter of 2024, subject to customary closing conditions.

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Touchstone Bankshares (OTC Pink: TSBA) reported Q2 2024 net income of $451,000 or $0.14 per share, up 58.2% from $285,000 or $0.09 per share in Q2 2023. Key highlights:

- Net interest income increased 0.9% to $5.2 million
- Net interest margin improved 3 basis points to 3.47%
- Noninterest income decreased 8.9% to $871,000
- Noninterest expense decreased 7.4% to $5.2 million
- Total assets grew 0.6% to $662.7 million
- Total loans decreased 1.6% to $500.6 million
- Total deposits increased 0.8% to $546.7 million

Results were impacted by $186,000 provision for credit losses and $202,000 in merger-related expenses for pending merger with First National Excluding merger costs, adjusted Q2 EPS would have been $0.19.

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Touchstone Bankshares, Inc. reported net income of $327K and earnings per share of $0.10 for Q1 2024, with a positive impact on results excluding merger expenses. The pending merger with First National influenced financials, with plans to merge in Q4 2024. The Company postponed the 2024 annual meeting for a special meeting to consider the merger. The CEO highlighted challenges faced in the financial industry related to net interest margin compression due to rising deposit costs, an inverted yield curve, and competitive pressures. Despite challenges, the Company maintained progress and growth, focusing on stakeholders and preparation for the partnership with First National.

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Touchstone Bankshares, Inc. reported preliminary, unaudited results for the three and twelve months ended December 31, 2023. The Company's net income available to common shareholders for the three months ended December 31, 2023, was $1.1 million, with basic and diluted earnings per common share at $0.32. For the twelve months ended December 31, 2023, the net income available to common shareholders was $1.6 million, with basic and diluted earnings per common share at $0.49. The Company's President and CEO, James R. Black, commented on the challenges faced by the financial industry and the success of cost-saving initiatives. The Company also reported a decrease in net interest income and noninterest income for the three months ended December 31, 2023, compared to the same period in 2022. Additionally, the noninterest expense decreased for the same period. For the twelve months ended December 31, 2023, there was an increase in net interest income, provision for credit losses, and noninterest expense compared to the same period in 2022.
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Touchstone Bankshares, Inc. (TSBA) appoints Adam Sothen as Executive Vice President and Chief Financial Officer, bringing 25 years of experience in the financial and banking industry. Sothen's previous roles include serving as CFO for a $1.5 billion multi-bank holding company in Maryland and other community banks in Virginia. Touchstone Bank President and CEO James Black expresses excitement for Sothen's leadership and experience, anticipating further progress for the organization.
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Touchstone Bankshares, Inc. (TSBA) declared an annual cash dividend of $0.32 per share for common and preferred shareholders of record as of January 5, 2024, payable January 19, 2024. The Company's President and CEO, James R. Black, expressed gratitude for the shareholders' loyalty and support in the local community bank.
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Touchstone Bankshares, Inc. reported unaudited results for the quarter ended September 30, 2023. Net income for the quarter was $456 thousand, with basic and diluted earnings per common share of $0.14. Return on average assets was 0.28% and return on average common equity was 4.34%. Net interest income for the quarter was $5.1 million, a decrease of 6.1% compared to the same period last year. Noninterest income for the quarter was $930 thousand, an increase of 10.6% compared to last year.
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Touchstone Bankshares promotes Shauna Robertson to Executive Vice President, Chief Banking and Human Resources Officer. Justin Clay appointed as interim CFO.
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TOUCHSTONE BANKSHARES

OTC:TSBA

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46.61M
3.10M
16.53%
9.63%
Banks - Regional
Financial Services
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United States
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