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Thomasville Bancshares, Inc. Announces 2024 Results

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

THOMASVILLE, Ga., Jan. 14, 2025 (GLOBE NEWSWIRE) — Thomasville Bancshares, Inc. (OTC PINK: THVB), the parent company of Thomasville National Bank and TNB Financial Services, today announced financial results for the year ended December 31, 2024.

2024 Highlights

  • Net Income for the year of $39,270,458 compared to $33,546,808 in 2023, an increase of 17%.
  • Earnings per share for the year were $6.11 (basic) and $5.92 (diluted).
  • YTD Return on Average Assets of 2.20% and Return on Average Tangible Equity of 24.16%.
  • Total Assets of $1.891 billion, an increase of $245 million over 2023.
  • Loans grew to $1.539 billion, an increase of $121 million or 9% year-over-year.
  • Deposits grew to $1.648 billion, an increase of $224 million or 16% year-over-year.
  • Regulatory Capital increased to $169 million.
  • Total dividend paid for the year of $2.30, an increase of 15% over 2023.
  • TNB Financial, provider of trust and investment services, now has client assets over $4.7 billion.

Stephen H. Cheney, Chairman and CEO, said “We are pleased to report our strong financial performance in 2024 which included record earnings and record growth. We believe that our Bank is well positioned to continue this strong performance in 2025 and beyond.”

Bank President, Bert Hodges stated, “Our resilient culture that empowers our bankers to be creative thinkers has become extremely unique in our industry. This continues to set us apart and has led to superior credit quality, solid customer loyalty, and excellent opportunities for growth. The talent, pride and competitive spirit of our bankers makes us more confident than ever about the future of TNB.”

About Thomasville Bancshares, Inc., and Thomasville National Bank

Thomasville Bancshares, Inc. was founded in 1995 as the holding company for Thomasville National Bank. Today the Bank has total assets of over $1.8 billion. TNB was the #1 ranked bank in Georgia in overall performance (Q3 2023 GBA Bank Performance Report) and was recently recognized by American Banker magazine as one of the Top 200 Community Banks in the country, ranked 7th in the nation based upon three years average return on shareholders’ equity. The Bank’s trust and investment division, TNB Financial Services, has client assets over $4.7 billion under advisement and provides financial planning, investments, trust, brokerage, and other related financial services. TNBFS has offices located in Georgia, Florida, South Carolina, Illinois, and Ohio. The Company is headquartered in Thomasville, Georgia and has over 800 local shareholders. Thomasville National Bank is Member FDIC and an Equal Housing Lender. For more information, visit www.tnbank.com.

CONTACT: 229-226-3300

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