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North Dallas Bank & Trust Co. Announces Third Quarter Earnings

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

DALLAS, Oct. 11, 2022 (GLOBE NEWSWIRE) — NDBT (North Dallas Bank & Trust Co.) (OTC: NODB), an independent community bank established in 1961, today announced net earnings of $2,406,349 or $0.94 per share for the three months ending September 30, 2022, compared to $2,151,043 or $0.84 per share for the same period in 2021. The increase in earnings is primarily due to loan growth experienced in 2022.

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.

Media Contact:
Brian C. Jensen
972-716-7124
brian.jensen@ndbt.com

FINANCIAL HIGHLIGHTS       
 Three Months Ended Nine Months Ended
 September 30 September 30
        
Income Statement2022  2021 2022  2021
        
        
Net Interest Income11,254,829   8,584,331  32,213,032   25,397,876 
Provision for Loan Losses(1,030,000) 0  (2,880,000) (550,000)
Noninterest Income1,428,266   1,344,387  4,452,284   3,898,325 
Noninterest Expenses(8,684,486) (7,230,691) (25,389,764) (21,478,865)
        
Income Before Taxes & Extraordinary2,968,609   2,698,027  8,395,552   7,267,336 
Income Tax(562,260) (546,984) (1,632,059) (1,466,300)
        
Income Before Extraordinary2,406,349   2,151,043  6,763,493   5,801,036 
Extraordinary0   0  0   0 
        
Net Income2,406,349   2,151,043  6,763,493   5,801,036 
        
        
Earnings per Share0.94   0.84   2.63   2.26 
        
     Nine Month Average
  As of September 30  Ended September 30
        
Balance Sheet2022  2021 2022  2021
        
        
        
Total Assets1,714,574,342   1,613,009,406  1,722,251,428   1,557,024,149 
Total Loans977,124,602   699,461,871  929,087,562   686,607,185 
Deposits1,549,447,060   1,432,490,642  1,551,142,503   1,378,994,890 
Stockholders’ Equity155,002,096   171,295,732  162,692,072   170,563,720 
        

(Prepared internally without review by our independent accountants)

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