North Dallas Bank & Trust Co. Announces First Quarter Earnings
DALLAS, April 07, 2023 (GLOBE NEWSWIRE) — NDBT (North Dallas Bank & Trust Co.), an independent community bank established in 1961, today announced net earnings of $1,393,780 or $0.54 per share for the three months ending March 31, 2023, compared to $2,134,090 or $0.83 per share for the same period in 2022. The decrease in earnings is primarily due to increasing interest paid on deposits.
Earnings were prepared internally without review by the company’s independent accountants. Financial results are the results of past performance, events and market conditions, and are not a guarantee for future results. Any forward-looking implications derived from this information may differ materially from actual results.
Further information about the dividend declaration is available from Glenn Henry, Chief Financial Officer, 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 Member FDIC and an Equal Housing Lender. For more information, call 972.716.7100, or visit online at www.ndbt.com.
| NORTH DALLAS BANK & TRUST CO. | ||||||||||||
| 12900 PRESTON ROAD | ||||||||||||
| DALLAS, TEXAS | ||||||||||||
| FINANCIAL HIGHLIGHTS | ||||||||||||
| Three Months Ended | ||||||||||||
| Income Statement | March 31 | |||||||||||
| 2023 | 2022 | |||||||||||
| Net Interest Income | 9,183,394 | 10,003,740 | ||||||||||
| Provision for Credit Losses | (300,000 | ) | (750,000 | ) | ||||||||
| Noninterest Income | 1,378,092 | 1,522,047 | ||||||||||
| Noninterest Expenses | (8,572,086 | ) | (8,103,819 | ) | ||||||||
| Income Before Taxes & Extraordinary | 1,689,400 | 2,671,968 | ||||||||||
| Income Tax | (295,620 | ) | (537,878 | ) | ||||||||
| Income Before Extraordinary | 1,393,780 | 2,134,090 | ||||||||||
| Extraordinary | 0 | 0 | ||||||||||
| Net Income | 1,393,780 | 2,134,090 | ||||||||||
| Earnings per share | 0.54 | 0.83 | ||||||||||
| Three Month Average | ||||||||||||
| Balance Sheet | As of March 31 | Ended March 31 | ||||||||||
| 2023 | 2022 | 2023 | 2022 | |||||||||
| Total Assets | 1,734,530,899 | 1,721,552,043 | 1,680,067,275 | 1,694,253,652 | ||||||||
| Total Loans | 1,038,329,832 | 897,738,044 | 1,032,637,321 | 879,536,104 | ||||||||
| Deposits | 1,512,380,442 | 1,548,932,318 | 1,505,226,698 | 1,519,559,087 | ||||||||
| Stockholders’ Equity | 160,345,483 | 163,872,540 | 158,788,784 | 167,674,318 | ||||||||
| (Prepared internally without review by | ||||||||||||
| our independent accountants) | ||||||||||||
Media Contact:
Brian C. Jensen
972-716-7124
[email protected]
