North Dallas Bank & Trust Co. announces results for the second quarter
DALLAS, JULY 8, 2022 (GLOBE NEWSWIRE) – NDBT (North Dallas Bank & Trust Co.), an independent social bank established in 1961, today announced a net income of $ 2,223,054 or $ 0.87 per share for the three months ending June 30, 2022, compared to $ 1,880,378 or $ 0.73 per share for the same period in 2021. The increase in earnings is primarily due to loan growth in the first half of 2022.
The results have been prepared internally without review by the company’s independent accountants. Financial results are results of past results, events and market conditions, and are not a guarantee of future results. Any forward-looking implications derived from this information may differ materially from actual results.
Further information on the dividend statement is available from Glenn Henry, CFO, by contacting NDBT.
ABOUT NDBT
Founded in 1961, NDBT (North Dallas Bank & Trust Co.) is an independent community bank with five banking centers located in Dallas, Addison, Frisco, Las Colinas and Plano. Headquartered on the corner of Preston Road and LBJ at 12900 Preston Road in Dallas, NDBT is dedicated to helping people make smarter choices in business and life by offering authentic banking solutions, wealth management and innovative online banking tools. NDBT is a member of the FDIC and an equal mortgage lender. For more information, call 972.716.7100, or visit online www.ndbt.com.
| NORTH DALLAS BANK & TRUST CO. | ||||||||||||||
| 12900 PRESTON ROAD | ||||||||||||||
| DALLAS, TEXAS | ||||||||||||||
| ECONOMIC HIGHLIGHTS | ||||||||||||||
| Three months over | Six months over | |||||||||||||
| June 30th | June 30th | |||||||||||||
| Income statement | 2022 | 2021 | 2022 | 2021 | ||||||||||
| Net interest income | 10,954,462 | 8,249,829 | 20,958,203 | 16,813,545 | ||||||||||
| Provision for loan losses | (1,100,000 | ) | (100,000 | ) | (1,850,000 | ) | (550,000 | ) | ||||||
| Non-interest income | 1,538,901 | 1 342 957 | 3 060 949 | 2,565,458 | ||||||||||
| Interest-free expenses | (8,638,388 | ) | (7,134,782 | ) | (16,742,209 | ) | (14,259,694 | ) | ||||||
| Income before tax and extraordinary | 2,754,975 | 2,358,004 | 5,426,943 | 4,569,309 | ||||||||||
| Income tax | (531 921 | ) | (477,626 | ) | (1,069,799 | ) | (919 316 | ) | ||||||
| Income before extraordinary | 2,223,054 | 1,880,378 | 4,357,144 | 3,649,993 | ||||||||||
| Extraordinary | 0 | 0 | 0 | 0 | ||||||||||
| Net income | 2,223,054 | 1,880,378 | 4,357,144 | 3,649,993 | ||||||||||
| Earnings per share | 0.87 | 0.73 | 1.70 | 1.42 | ||||||||||
| Six-month average | ||||||||||||||
| As of June 30th | Finished June 30th | |||||||||||||
| Balance | 2022 | 2021 | 2022 | 2021 | ||||||||||
| Total assets | 1 728 270 804 | 1,591,942,505 | 1 722 033 798 | 1,530,778,505 | ||||||||||
| Total loans | 969,600,433 | 695 415 018 | 911 467 409 | 683,164,494 | ||||||||||
| Deposit | 1,561,360,658 | 1,413,714,432 | 1 549 887 908 | 1,353,569,077 | ||||||||||
| Shareholders equity | 157,357,150 | 169,742,352 | 164,415,092 | 170 237 949 | ||||||||||
| (Prepared internally without review of | ||||||||||||||
| our independent accountants) | ||||||||||||||
Media contact:
Brian C. Jensen
972-716-7124
[email protected]
