Trinity Bank Reports 2024 1Q Earnings of $2,028,000

*First Quarter Earnings Up 5.9% to $1.80 Per Share*
*Return on Assets 1.65% And Return on Equity 15.04%*

*FORT WORTH, TX / ACCESSWIRE / April 29, 2024 / *Trinity Bank N.A. (OTC PINK:TYBT) today announced operating results for the three months ending March 31, 2024.

*Results of Operations*

Trinity Bank, N.A. reported Net Income after Taxes of $2,028,000 or $1.80 per diluted common share for the first quarter of 2024, compared to $1,938,000 or $1.70 per diluted common share for the first quarter of 2023, an increase of 5.9%.

"We are pleased with our 1^st Quarter results, and the overall outlook for 2024. We have been blessed with steady loan production, contrary to others in the industry suffering from a lack of demand," stated President Barney Wiley. This a testament to our current customers and shareholders financial strength, and for this, we are thankful.

Although our results have remained solid, we are aware of the economic volatility in this election year. According to President Wiley," We remain focused on asset quality, liquidity, and following our core values and prudent underwriting practices."

"We are excited to announce technology upgrades to our website and on-line banking platform in the coming months which will further help our loyal customers. This rollout is a testament to our hardworking and dedicated employees, and our dedication to quality products and services."

Trinity announced its 25^th consecutive increase in its semiannual dividend. The dividend was paid this last week to shareholders. The April 2024 of $ .88 per share represents an increase of 8.6% over the April 2023 dividend of $ .81 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*
*2024* *2023* *Change*

Interest income
$ 6,934 $ 5,264 31.7 %
Interest expense
2,832 1,572 80.2 %
*Net Interest Income*
*4,102* *3,692* *11.1* *%*
Service charges on deposits
53 61 -13.1 %
Other income
121 115 5.2 %
*Total Non Interest Income*
*174* *176* *-1.1* *%*
Salaries and benefits expense
1,223 1,068 14.5 %
Occupancy and equipment expense
122 108 13.0 %
Other expense
620 433 43.2 %
*Total Non Interest Expense*
*1,965* *1,609* *22.1* *%*
*Pretax pre-provision income*
*2,311* *2,259* *2.3* *%*
Gain on sale of Securities
(1 ) N/M
Gain on sale of Assets
17
*Provision for Loan Losses*
** ** N/M
Earnings before income taxes
2,328 2,258 3.1 %
Provision for income taxes
300 320 -6.3 %
*Net Earnings*
*$* *2,028* *$* *1,938* *4.6* *%*
Basic earnings per share
1.88 1.78 *5.6* *%*
Basic weighted average shares
1,079 1,090
outstanding

Diluted earnings per share - estimate
1.80 1.70 *5.9* *%*
Diluted weighted average shares outstanding
1,129 1,139
*Average for Quarter*
*March 31*
*BALANCE SHEET SUMMARY* *2024* *2023* *Change*

Total loans
$ 302,296 $ 272,089 11.1 %
Total short term investments
37,649 22,733 65.6 %
Total investment securities
143,056 136,288 5.0 %
*Earning assets*
*483,001* *431,110* *12.0* *%*
*Total assets*
*490,262* *439,725* *11.5* *%*
Noninterest bearing deposits
127,766 146,896 -13.0 %
Interest bearing deposits
309,030 246,298 25.5 %
*Total deposits*
*436,796* *393,194* *11.1* *%*
Fed Funds Purchased and Repurchase Agreements
N/M
*Shareholders' equity*
*$* *53,923* *$* *48,537* *11.1* *%*

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*
*2024* *2023* *2023* *2023* *2023*

Total loans
$ 302,296 $ 297,994 $ 294,238 $ 283,827 $ 272,089
Total short term investments
37,649 43,172 22,128 16,087 22,733
Total investment securities
143,056 132,516 133,687 134,403 136,288
*Earning assets*
*483,001* *473,682* *450,053* *434,317* *431,110*
*Total assets*
*490,262* *481,952* *458,461* *441,447* *439,725*
Noninterest bearing deposits
127,766 138,527 137,385 140,734 146,909
Interest bearing deposits
309,030 297,030 271,946 253,624 246,285
*Total deposits*
*436,796* *435,557* *409,331* *394,358* *393,194*
Fed Funds Purchased and Repurchase Agreements
261 1,076 55
*Shareholders' equity*
*$* *53,923* *$* *52,263* *$* *51,234* *$* *49,444* *$* *48,537*

*Quarter Ended*
*March 31,* *Dec. 31* *Sept. 30* *June 30,* *March 31,*
*HISTORICAL EARNINGS SUMMARY*
*2024* *2023* *2023* *2023* *2023*


Interest income
$ 6,934 $ 6,818 $ 6,258 $ 5,719 $ 5,264
Interest expense
2,832 2,738 2,370 1,934 1,572
*Net Interest Income*
*4,102* *4,080* *3,888* *3,785* *3,692*
Service charges on deposits
53 55 69 64 61
Other income
121 117 114 120 115
*Total Non Interest Income*
*174* *172* *183* *184* *176*
Salaries and benefits expense
1,223 1,314 1,171 1,146 1,068
Occupancy and equipment expense
122 109 118 116 108
Other expense
620 509 500 441 433
*Total Non Interest Expense*
*1,965* *1,932* *1,789* *1,703* *1,609*
*Pretax pre-provision income*
*2,311* *2,320* *2,282* *2,266* *2,259*
Gain on sale of securities
(36 ) (1 ) (3 ) (1 )
Gain on sale of Other Assets
17 58
*Provision for Loan Losses*
** ** ** ** **
Earnings before income taxes
2,328 2,342 2,281 2,263 2,258
Provision for income taxes
300 207 313 290 320
*Net Earnings*
*$* *2,028* *$* *2,135* *$* *1,968* *$* *1,973* *$* *1,938*
Diluted earnings per share
$ 1.80 $ 1.88 $ 1.73 $ 1.73 $ 1.70

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*
*2024* *2023* *2023* *2023* *2023*

Total loans
$ 312,372 $ 297,423 $ 298,506 $ 292,591 $ 270,530
Total short term investments
$ 38,009 $ 40,334 26,168 18,313 37,656
Total investment securities
$ 139,598 $ 140,403 127,035 130,603 136,407
*Total earning assets*
*489,979* *478,160* *451,709* *441,507* *444,593*
Allowance for loan losses
(5,225 ) (5,224 ) (5,222 ) (5,344 ) (5,344 )
Premises and equipment
2,375 2,387 2,389 2,378 2,337
Other Assets
8,149 10,291 10,137 10,044 9,381
*Total assets*
*495,278* *485,614* *459,013* *448,585* *450,967*
Noninterest bearing deposits
130,876 130,601 135,016 141,613 151,010
Interest bearing deposits
310,889 301,603 279,319 259,401 252,164
*Total deposits*
*441,765* *432,204* *414,335* *401,014* *403,174*
Fed Funds Purchased and Repurchase Agreements

Other Liabilities
2,618 2,663 3,164 2,239 2,936
*Total liabilities*
*444,383* *434,867* *417,499* *403,253* *406,110*
Shareholders' Equity Actual
*50,894* *53,465* *51,470* *50,427* *48,537*
Unrealized Gain/Loss - AFS
*(3,883* *)* *(2,718* *)* *(9,956* *)* *(5,096* *)* *(3,680* *)*
*Total Equity*
*$* *47,011* *$* *50,747* *$* *41,514* *$* *45,331* *$* *44,857*

*Quarter Ending*
*March 31,* *Dec. 31* *Sept. 30,* *June 30,* *March 31,*
*NONPERFORMING ASSETS*
*2024* *2023* *2023* *2023* *2023*

Nonaccrual loans
$ $ $ 115 $ 143 $ 159
Restructured loans
$ 598 $ 658 $ $ $
Other real estate & foreclosed assets
$ $ $ $ $
Accruing loans past due 90 days or more
$ $ $ $ $
*Total nonperforming assets*
*$* *598* *$* *658* *$* *115* *$* *143* *$* *159*
Accruing loans past due 30-89 days
$ $ 1 $ 2 $ 2 $ 407
Total nonperforming assets as a percentage

of loans and foreclosed assets
0.19 % 0.22 % 0.04 % 0.05 % 0.06 %

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*
*2024* *2023* *2023* *2023* *2023*

*Balance at beginning of period*
*$* *5,224* *$* *5,222* *$* *5,344* *$* *5,344* *$* *4,324*
Loans charged off
(127 )
Loan recoveries
2 5
Net (charge-offs) recoveries
2 (122 )
Provision for loan losses (One time CECL adjustment)
1,020
*Balance at end of period*
*$* *5,224* *$* *5,224* *$* *5,222* *$* *5,344* *$* *5,344*


Allowance for loan losses

as a percentage of total loans
1.67 % 1.76 % 1.75 % 1.83 % 1.98 %
Allowance for loan losses

as a percentage of nonperforming assets
874 % 794 % 4541 % 3737 % 3361 %
Net charge-offs (recoveries) as a

percentage of average loans
0.00 % 0.00 % 0.04 % 0.00 % 0.00 %
Provision for loan losses

as a percentage of average loans
0.00 % 0.00 % 0.00 % 0.00 % 0.37 %
*Quarter Ending*
*March 31,* *Dec. 31* *Sept. 30,* *June 30,* *March 31,*
*SELECTED RATIOS*
*2024* *2023* *2023* *2023* *2023*

Return on average assets (annualized)
1.65 % 1.77 % 1.72 % 1.79 % 1.76 %


Return on average equity (annualized)
16.03 % 19.87 % 17.69 % 17.74 % 17.68 %
Return on average equity (excluding unrealized gain on investments)
15.04 % 16.34 % 15.29 % 15.96 % 15.97 %


Average shareholders' equity to average assets
11.00 % 10.84 % 11.18 % 11.20 % 11.04 %
Yield on earning assets (tax equivalent)
2.08 % 5.81 % 5.76 % 5.47 % 5.09 %
Effective Cost of Funds
2.31 % 2.16 % 2.11 % 1.78 % 1.46 %


Net interest margin (tax equivalent)
3.63 % 3.65 % 3.66 % 3.69 % 3.63 %


Efficiency ratio (tax equivalent)
42.8 % 42.4 % 41.6 % 42.9 % 39.4 %
End of period book value per common share
$ 47.17 $ 46.73 $ 38.09 $ 41.59 $ 41.12
End of period book value (excluding unrealized gain/loss on investments)
$ 43.57 $ 49.23 $ 47.22 $ 46.26 $ 44.49


End of period common shares outstanding (in 000's)
1,079 1,086 1,090 1,090 1,091

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

*Quarter Ending*
*March 31, 2024* *March 31, 2023*

Tax Tax
Average Equivalent Average Equivalent
YIELD ANALYSIS
Balance Interest Yield Yield Balance Interest Yield Yield

Interest Earning Assets:

Short term investment
$ 37,649 517 5.49 % 5.49 % $ 22,733 271 4.77 % 4.77 %
FRB Stock
433 6 6.00 % 6.00 % 428 6 6.00 % 6.00 %
Taxable securities
2,472 32 5.18 % 5.18 % 444 7 6.31 % 6.31 %
Tax Free securities
140,151 1,047 2.99 % 3.78 % 135,416 827 2.44 % 3.09 %
Loans
302,296 5,331 7.05 % 7.05 % 272,089 4,153 6.11 % 6.11 %
*Total Interest Earning Assets*
*483,001* *6,933* *5.74* *%* *5.97* *%* *431,110* *5,264* *4.88* *%* *5.09* *%*
Noninterest Earning Assets:

Cash and due from banks
5,427 6,233
Other assets
7,059 6,729
Allowance for loan losses
(5,225 ) (4,347 )
*Total Noninterest Earning Assets*
*7,261* *8,615*


*Total Assets*
*$* *490,262* *$* *439,725*
Interest Bearing Liabilities:

Transaction and Money Market accounts
204,700 1,141 2.23 % 2.23 % 173,071 1,067 2.47 % 2.47 %
Certificates and other time deposits
95,663 1,678 7.02 % 7.02 % 73,213 505 2.76 % 2.76 %
Other borrowings
8,667 13 0.60 % 0.60 % 0.00 % 0.00 %
*Total Interest Bearing Liabilities*
*309,030* *2,832* *3.67* *%* *3.67* *%* *246,284* *1,572* *2.55* *%* *2.55* *%*


Noninterest Bearing Liabilities:

Demand deposits
127,766 146,909
Other liabilities
2,856 1,875
Shareholders' Equity
50,610 44,657
*Total Liabilities and Shareholders Equity*
*$* *490,262* *$* *439,725*


*Net Interest Income and Spread*
*173,971* *4,101* *2.08* *%* *2.31* *%* *3,692* *2.33* *%* *2.53* *%*
*Net Interest Margin*
*3.40* *%* *3.63* *%* *3.43* *%* *3.63* *%*

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

*March 31* *March 31*
*2024* *%* *2023* *%*
LOAN PORTFOLIO


Commercial and industrial
$ 171,452 54.80 % $ 147,968 54.62 %
Real estate:

Commercial
96,269 30.77 % 78,122 28.84 %
Residential
15,877 5.08 % 16,574 6.12 %
Construction and development
28,974 9.26 % 27,921 10.31 %
Consumer
272 0.09 % 337 0.12 %
*Total loans*
*312,844* *100.00* *%* *270,922* *100.00* *%* *March 31* *March 31*

*2024* *2023*
REGULATORY CAPITAL DATA

Tier 1 Capital
$ 54,777 $ 44,859
Total Capital (Tier 1 + Tier 2)
$ 59,197 $ 48,539
Total Risk-Adjusted Assets
$ 352,550 $ 302,197
Tier 1 Risk-Based Capital Ratio
15.54 % 16.06 %
Total Risk-Based Capital Ratio
16.79 % 17.32 %
Tier 1 Leverage Ratio
11.17 % 11.04 %
OTHER DATA

Full Time Equivalent

Employees (FTE's)
28 25
Stock Price Range

(For the Three Months Ended):

High
$ 95.00 $ 88.50
Low
$ 89.00 $ 87.75
Close
$ 94.00 $ 87.75

*SOURCE: *Trinity Bank N.A.
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