First Quarter Earnings Up 19.7% to $1.70 Per Share

Return on Assets 1.76% And Return on Equity 15.97%

FORT WORTH, TX / ACCESSWIRE / May 3, 2023 / Trinity Bank N.A. (OTC PINK:TYBT) today announced operating results for the three months ending March 31, 2023.

Results of Operations

Trinity Bank, N.A. reported Net Income after Taxes of $1,938,000 or $1.70 per diluted common share for the first quarter of 2023, compared to $1,610,000 or $1.42 per diluted common share for the first quarter of 2022, an increase of 19.7%.

President Barney Wiley stated, "We are pleased with our first quarter results. Growth in Earnings, Loans, Deposits, and Capital are indicative of a good market. Our strong and diversified customer base, competitive interest rates, and exceptional customer service have made our continued growth possible. We appreciate our customers and continue to look for long-term relationships with quality people who are looking for a quality local bank."

On May 28, 2023, Trinity will observe its 20-year anniversary. To express their thanks, the bank will be hosting Customer Appreciation Days each Friday in May and invite all customers to drop by the lobby. According to Wiley, "We are proud of our performance and continue to be grateful for our shareholders' trust and their investment in Trinity Bank."

Trinity also announced that its 22^nd consecutive increase in its semiannual dividend was paid in late April to shareholders. The April 2023 dividend of $0.81 per share also represents an increase of 8.7% over the April 2022 dividend of $0.75 per share."

Trinity Bank, N.A. is a commercial bank that began operations May 28, 2003. For a full financial statement or for monthly updates on deposit rates and liquidity position visit Trinity Bank's website: www.trinitybk.com. Regulatory reporting format is also available at www.fdic.gov.

###

For information contact:

Richard Burt
Executive Vice President
Trinity Bank
817-763-9966

This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding future financial conditions, results of operations and the Bank's business operations. Such forward-looking statements involve risks, uncertainties and assumptions, including, but not limited to, monetary policy and general economic conditions in Texas and the greater Dallas-Fort Worth metropolitan area, the risks of changes in interest rates on the level and composition of deposits, loan demand and the values of loan collateral, securities and interest rate protection agreements, the actions of competitors and customers, the success of the Bank in implementing its strategic plan, the failure of the assumptions underlying the reserves for loan losses and the estimations of values of collateral and various financial assets and liabilities, that the costs of technological changes are more difficult or expensive than anticipated, the effects of regulatory restrictions imposed on banks generally, any changes in fiscal, monetary or regulatory policies and other uncertainties as discussed in the Bank's Registration Statement on Form SB‑1 filed with the Office of the Comptroller of the Currency. Should one or more of these risks or uncertainties materialize, or should these underlying assumptions prove incorrect, actual outcomes may vary materially from outcomes expected or anticipated by the Bank. A forward-looking statement may include a statement of the assumptions or bases underlying the forward‑looking statement. The Bank believes it has chosen these assumptions or bases in good faith and that they are reasonable. However, the Bank cautions you that assumptions or bases almost always vary from actual results, and the differences between assumptions or bases and actual results can be material. The Bank undertakes no obligation to publicly update or otherwise revise any forward‑looking statements, whether as a result of new information, future events or otherwise, unless the securities laws require the Bank to do so.

TRINITY BANK N.A.
(Unaudited)
(Dollars in thousands, except per share data)

	Quarter Ended
	March 31								%
EARNINGS SUMMARY	2023				2022				Change
Interest income	$	5,264			$	3,599				46.3%
Interest expense		1,572				165				852.7%
Net Interest Income		3,692				3,434				7.5%
Service charges on deposits		61				59				3.4%
Other income		115				106				8.5%
Total Non Interest Income		176				165				6.7%
Salaries and benefits expense		1,068				999				6.9%
Occupancy and equipment expense		108				110				-1.8%
Other expense		433				600				-27.8%
Total Non Interest Expense		1,609				1,709				-5.9%
Pretax pre-provision income		2,259				1,890				19.5%
Gain on sale of securities		(1)				0				N/M
Provision for Loan Losses		0				0				N/M
Earnings before income taxes		2,258				1,890				19.5%
Provision for income taxes		320				280				14.3%
Net Earnings	$	1,938			$	1,610				20.4%
Basic earnings per share		1.78				1.48				20.3%
Basic weighted average shares		1,090				1,087
outstanding
Diluted earnings per share - estimate		1.70				1.42				19.7%
Diluted weighted average shares outstanding		1,139				1,133
	Average for Quarter
	March 31								%
BALANCE SHEET SUMMARY		2023				2022			Change
Total loans	$	272,089			$	243,893				11.6%
Total short term investments		22,733				28,809				-21.1%
Total investment securities		136,288				142,753				-4.5%
Earning assets		431,110				415,455				3.8%
Total assets		439,725				421,745				4.3%
Noninterest bearing deposits		146,909				154,029				-4.6%
Interest bearing deposits		246,285				221,868				11.0%
Total deposits		393,194				375,897				4.6%
Fed Funds Purchased and Repurchase Agreements		0				0				N/M
Shareholders' equity	$	48,537			$	43,883				10.6%

TRINITY BANK N.A.
(Unaudited)
(Dollars in thousands, except per share data)

	Average for Quarter Ending
	March 31,				Dec 31,				Sept. 30,				June 30,				March 31,
BALANCE SHEET SUMMARY	2023				2022				2022				2022				2022
Total loans	$	272,089			$	268,908			$	266,041			$	255,951			$	240,831
Total PPP loans	$	0				0				0				0				3,062
Total short term investments		22,733				39,334				50,091				30,574				28,809
Total investment securities		136,288				138,049				144,170				143,142				142,753
Earning assets		431,110				446,291				460,302				429,687				415,455
Total assets		439,725				455,683				467,859				437,237				421,745
Noninterest bearing deposits		146,909				167,630				177,293				164,965				154,029
Interest bearing deposits		246,285				246,989				246,907				229,986				221,868
Total deposits		393,194				414,618				424,200				394,951				375,897
Fed Funds Purchased and Repurchase Agreements		0				0				0				0				0
Shareholders' equity	$	48,537			$	47,713			$	46,676			$	45,059			$	43,883
	Quarter Ended
		March 31,				Dec 31,				Sept. 30,				June 30,				March 31,
HISTORICAL EARNINGS SUMMARY		2023				2022				2022				2022				2022
Interest income less PPP	$	5,264			$	5,173			$	4,588			$	3,763			$	3,321
PPP interest and fees		0				0				0				0				278
Interest expense		1,572				1,022				607				248				165
Net Interest Income		3,692				4,151				3,981				3,515				3,434
Service charges on deposits		61				59				58				62				59
Other income		115				113				114				126				106
Total Non Interest Income		176				172				172				188				165
Salaries and benefits expense		1,068				1,141				1,290				1,096				999
Occupancy and equipment expense		108				106				163				111				110
Other expense		433				399				495				536				600
Total Non Interest Expense		1,609				1,646				1,948				1,743				1,709
Pretax pre-provision income		2,259				2,677				2,205				1,960				1,890
Gain on sale of securities		(1)				(164)				(19)				0				0
Provision for Loan Losses		0				0				0				0				0
Earnings before income taxes		2,258				2,513				2,186				1,960				1,890
Provision for income taxes		320				400				320				280				280
Net Earnings	$	1,938			$	2,113			$	1,866			$	1,680			$	1,610
Diluted earnings per share	$	1.70			$	1.86			$	1.64			$	1.47			$	1.42

TRINITY BANK N.A.
(Unaudited)
(Dollars in thousands, except per share data)

	Ending Balance
	March 31,				Dec 31,				Sept. 30,				June 30,				March 31,
HISTORICAL BALANCE SHEET	2023				2022				2022				2022				2022
Total loans	$	270,530			$	281,857			$	265,811			$	267,163			$	247,358
Total short term investments		37,656				19,893				58,084				19,635				39,776
Total investment securities		136,407				134,628				136,114				142,834				138,793
Total earning assets		444,593				436,378				460,009				429,632				425,927
Allowance for loan losses		(5,344)				(4,323)				(4,314)				(4,314)				(4,314)
Premises and equipment		2,337				2,196				1,976				2,019				2,065
Other Assets		9,381				11,030				11,957				11,260				10,557
Total assets		450,967				445,281				469,628				438,597				434,235
Noninterest bearing deposits		151,010				159,568				181,436				170,661				158,072
Interest bearing deposits		252,164				240,883				248,475				226,141				233,142
Total deposits		403,174				400,451				429,911				396,802				391,214
Fed Funds Purchased and Repurchase Agreements		0				0				0				0				0
Other Liabilities		2,936				1,779				2,794				1,474				2,033
Total liabilities		406,110				402,230				432,705				398,276				393,247
Shareholders' Equity Actual		48,537				48,871				46,712				45,830				44,093
Unrealized Gain/Loss - AFS		(3,680)				(5,820)				(9,789)				(5,509)				(3,105)
Total Equity	$	44,857			$	43,051			$	36,923			$	40,321			$	40,988
	Quarter Ending
		March 31,				Dec 31,				Sept. 30,				June 30,				March 31,
NONPERFORMING ASSETS		2023				2022				2022				2022				2022
Nonaccrual loans	$	159			$	171			$	195			$	211			$	239
Restructured loans	$	0			$	0			$	0			$	0			$	0
Other real estate & foreclosed assets	$	0			$	0			$	0			$	0			$	0
Accruing loans past due 90 days or more	$	0			$	0			$	0			$	0			$	0
Total nonperforming assets	$	159			$	171			$	195			$	211			$	239
Accruing loans past due 30-89 days	$	407			$	3			$	0			$	0			$	0
Total nonperforming assets as a percentage
of loans and foreclosed assets		0.06%				0.06%				0.07%				0.08%				0.10%

TRINITY BANK N.A.
(Unaudited)
(Dollars in thousands, except per share data)

	Quarter Ending
ALLOWANCE FOR	March 31,				Dec 31,				Sept. 30,				June 30,				March 31,
LOAN LOSSES	2023				2022				2022				2022				2022
Balance at beginning of period	$	4,324			$	4,314			$	4,314			$	4,314			$	4,306
Loans charged off		0				0				0				0				0
Loan recoveries		0				10				0				0				8
Net (charge-offs) recoveries		0				10				0				0				8
Provision for loan losses (One time CECL adjustment)		1,020				0				0				0				0
Balance at end of period	$	5,344			$	4,324			$	4,314			$	4,314			$	4,314
Allowance for loan losses
as a percentage of total loans		1.98%				1.53%				1.62%				1.61%				1.74%
Allowance for loan losses
as a percentage of nonperforming assets		3361%				2528%				2212%				2045%				1805%
Net charge-offs (recoveries) as a
percentage of average loans		0.00%				0.00%				0.00%				0.00%				0.00%
Provision for loan losses
as a percentage of average loans		0.37%				0.00%				0.00%				0.00%				0.00%
	Quarter Ending
		March 31,				Dec 31,				Sept. 30,				June 30,				March 31,
SELECTED RATIOS		2023				2022				2022				2022				2022
Return on average assets (annualized)		1.76%				1.85%				1.60%				1.54%				1.53%
Return on average equity (annualized)		17.28%				19.63%				17.68%				15.92%				15.71%
Return on average equity (excluding unrealized gain on investments)		15.97%				17.71%				15.99%				14.91%				14.61%
Average shareholders' equity to average assets		11.04%				10.47%				9.98%				10.31%				10.54%
Yield on earning assets (tax equivalent)		5.09%				4.84%				4.17%				3.68%				3.64%
Effective Cost of Funds		1.46%				0.92%				0.53%				0.23%				0.16%
Net interest margin (tax equivalent)		3.63%				3.92%				3.64%				3.45%				3.48%
Efficiency ratio (tax equivalent)		39.4%				36.2%				44.7%				44.9%				45.2%
End of period book value per common share	$	41.12			$	39.42			$	33.78			$	36.89			$	37.50
End of period book value (excluding unrealized gain/loss on investments)	$	44.49			$	44.75			$	42.74			$	41.93			$	40.34
End of period common shares outstanding (in 000's)		1,091				1,092				1,093				1,093				1,093

TRINITY BANK N.A.
(Unaudited)
(Dollars in thousands, except per share data)

	3 Months Ending
	March 31, 2023																March 31, 2022
													Tax																Tax
	Average												Equivalent				Average												Equivalent
YIELD ANALYSIS	Balance				Interest				Yield				Yield				Balance				Interest				Yield				Yield
Interest Earning Assets:
Short term investment	$	22,733				271				4.77%				4.77%			$	28,809				17				0.24%				0.24%
FRB Stock		428				6				6.00%				6.00%				411				6				6.00%				6.00%
Taxable securities		444				7				6.31%				6.31%				2,577				0				0.00%				0.00%
Tax Free securities		135,416				827				2.44%				3.09%				139,729				680				1.95%				2.46%
Loans		272,089				4,153				6.11%				6.11%				243,893				2,896				4.75%				4.75%
Total Interest Earning Assets		431,110				5,264				4.88%				5.09%				415,419				3,599				3.47%				3.64%
Noninterest Earning Assets:
Cash and due from banks		6,233																5,697
Other assets		6,729																4,901
Allowance for loan losses		(4,347)																(4,306)
Total Noninterest Earning Assets		8,615																6,292
Total Assets	$	439,725															$	421,711
Interest Bearing Liabilities:
Transaction and Money Market accounts		173,071				1,067				2.47%				2.47%				176,030				110				0.25%				0.25%
Certificates and other time deposits		73,213				505				2.76%				2.76%				43,098				55				0.51%				0.51%
Other borrowings		0				0				0.00%				0.00%				0				0				0.00%				0.00%
Total Interest Bearing Liabilities		246,284				1,572				2.55%				2.55	%			219,128				165				0.30%				0.30%
Noninterest Bearing Liabilities:
Demand deposits		146,909																156,769
Other liabilities		1,875																1,358
Shareholders' Equity		44,657																44,456
Total Liabilities and Shareholders Equity	$	439,725															$	421,711
Net Interest Income and Spread						3,692				2.33%				2.53%								3,434				3.16%				3.34%
Net Interest Margin										3.43%				3.63%												3.31%				3.48%

TRINITY BANK N.A.
(Unaudited)
(Dollars in thousands, except per share data)

	March 31								March 31
	2023				%				2022				%
LOAN PORTFOLIO
Commercial and industrial less PPP	$	147,968				54.62%			$	142,524				57.62%
Real estate:
Commercial		78,122				28.84%				56,059				22.66%
Residential		16,574				6.12%				16,653				6.73%
Construction and development		27,921				10.31%				31,802				12.86%
Consumer		337				0.12%				320				0.13%
Total loans		270,922				100.00%				247,358				100.00%
		March 31								March 31
		2023								2022
REGULATORY CAPITAL DATA
Tier 1 Capital	$	44,859							$	44,094
Total Capital (Tier 1 + Tier 2)	$	48,539							$	47,492
Total Risk-Adjusted Assets	$	302,197							$	270,950
Tier 1 Risk-Based Capital Ratio		16.06%								16.27%
Total Risk-Based Capital Ratio		17.32%								17.53%
Tier 1 Leverage Ratio		11.04%								10.45%
OTHER DATA
Full Time Equivalent
Employees (FTE's)		25								24
Stock Price Range
(For the Three Months Ended):
High	$	88.50							$	80.01
Low	$	87.75							$	76.00
Close	$	87.75							$	80.01

SOURCE: Trinity Bank N.A.

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