TOUCHMARK BANCSHARES, INC. REPORTS THIRD QUARTER RESULTS
Net income Rises 65% to $609,000
ALPHARETTA, Ga., Nov. 7, 2025 /PRNewswire/ -- Touchmark Bancshares, Inc. (OTC Pink: TMAK), the holding company for Touchmark National Bank, today reported financial results for the third quarter of 2025.
Key highlights of Touchmark Bancshares' results for the third quarter of 2025 include:
- Net income increases 65% to $609,000;
- Net interest margin jumps 75 basis points;
- Added a Senior Credit Officer;
- Reduced OREO by $1.1 million at no additional loss; and
- New customer growth rate accelerated.
"During the third quarter, net income rebounded to $609,000 driven by significant growth in our net interest margin supported by higher loan yields and lower deposit cost," said Bobby Krimmel, President and CEO of Touchmark National Bank. "New loan growth for the quarter was stronger than anticipated and resulted in the lowest percentage decline in the loan portfolio since December 2023. We expect net loan growth to turn positive for the fourth quarter of 2025, three months faster than previously expected and supported by a robust pipeline of $35 million in opportunities."
Krimmel continued, "We strategically reduced our non-core deposit balance during the quarter and shifted retail CD customers to money market accounts to improve the balance sheet mix. We added a new Senior Credit Officer and successfully disposed of a piece of OREO at no additional loss. Liquidity remains strong and supports expected future loan growth."
Third Quarter 2025 Results of Operations
- Net income decreased 60% to $609,000 for the third quarter of 2025 compared to the same period for 2024 but increased 65% from the sequential quarter driven by growth in interest income of $653,000 coupled with lower interest expense of $133,000 offset in part by lower non-interest income of $494,000;
- Net interest income decreased 15% to $2.7 million for the third quarter of 2025 compared to the same period for 2024 but increased by $786,000, or 41%, from the sequential quarter driven by lower loan purchase premium amortization of $1 million and declining deposit funding cost of $133,000;
- Non-interest income decreased 88% to $110,000 for the third quarter of 2025 compared to the same period for 2024 and decreased by $494,000, or 82%, from the sequential quarter driven by a decline in early loan prepayment revenue of $466,000; and
- Non-interest expense decreased 4% to $1.8 million compared to the same period for 2024 and decreased by $11,000 from the sequential quarter driven by a decline in salaries and employee benefits expense of $102,000 offset by an increase in OREO holding expense of $94,000.
Balance Sheet and Capital
- Total loans declined by $60 million, or 15%, to $329 million during the third quarter of 2025 compared to the same period in 2024 and decreased by $3 million, or 1%, from the sequential quarter driven by normal amortization of the loan portfolio of $5.8 million partially offset by new loan growth of $2.9 million;
- Total deposits declined by $44 million, or 11%, to $339 million during the third quarter of 2025 compared to the same period in 2024 and decreased by $9 million, or 3%, from the sequential quarter driven by a reduction in non-core deposits of $6.8 million, lower retail checking and money market balances of $1.7 million and time deposits of $549,000. New customer balance growth during the third quarter of 2025 was $16.6 million and replaced most of the balance runoff; and
- As of September 30, 2025, book value per share decreased 2% to $16.39 compared to the same period in 2024 but increased by $0.17 compared to the sequential quarter.
Asset Quality
- Nonperforming assets, net of government guarantees, for the third quarter of 2025 decreased to $6.5 million, or 1.55% of total assets, compared to $11.1 million, or 2.37% of total assets, for the same period in 2024 and declined by $944,000 compared to the sequential quarter driven by the resolution of an OREO asset for $1.1 million at no additional loss;
- Net recoveries to average loans improved to 0.00% for the third quarter of 2025 compared to net charge-offs of 0.34% for the same period in 2024 and net recoveries of 0.01% for the sequential quarter; and
- Allowance for credit losses represented 0.73% of total loans outstanding as of the third quarter of 2025, down from 1.20% for the same period in 2024 but up from 0.68% for the sequential quarter.
About Touchmark Bancshares, Inc. and Touchmark National Bank
Touchmark Bancshares, Inc. is the holding company for Touchmark National Bank, a community bank founded in 2008 and headquartered in Alpharetta, Georgia, serving Cherokee, Cobb, Dekalb, Forsyth, Gwinnett, and North Fulton counties. As of September 30, 2025, Touchmark reported total assets of $418 million and total shareholders' equity of $73 million. For more information about Touchmark, visit us at www.touchmarknb.com under Investor Relations.
Cautionary Note Regarding Forward Looking Statements
This news release may contain certain "forward-looking statements" that represent Touchmark's expectations or beliefs concerning future events and often use words or phrases such as "opportunities," "prospects," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," "intends" or similar expressions. Such forward-looking statements contained herein represent the current expectations, plans or forecast of Touchmark and are about matters that are inherently subject to risks and uncertainties. These statements are not guarantees of future results or performance and readers are cautioned not to place undue reliance on them, whether included in this news release or made elsewhere from time to time by Touchmark or on its behalf. Touchmark disclaims any obligation to update such forward-looking statements.
TOUCHMARK BANCSHARES, INC. AND SUBSIDIARY | ||||||||
(unaudited) | ||||||||
September 30, | December 31, | |||||||
(dollars in thousands, except per share data) | 2025 | 2024(1) | ||||||
ASSETS | Cash and due from banks | $ | 897 | $ | 1,184 | |||
Interest-bearing deposits | 60,299 | 41,408 | ||||||
Federal funds sold | 5,175 | 5,175 | ||||||
Total cash and cash equivalents | 66,371 | 47,767 | ||||||
Securities: | ||||||||
Available-for-sale | 10,477 | 10,019 | ||||||
Equity securities | 1,598 | 1,654 | ||||||
Loans, net of deferred fees | 329,437 | 379,419 | ||||||
Allowance for credit losses | (2,398) | (2,358) | ||||||
Net loans | 327,039 | 377,061 | ||||||
Bank premises and equipment, net | 1,273 | 1,217 | ||||||
Other Real Estate | 5,826 | 6,888 | ||||||
Deferred tax asset | 1,040 | 1,112 | ||||||
Other assets | 4,132 | 4,573 | ||||||
TOTAL ASSETS | $ | 417,756 | $ | 450,291 | ||||
LIABILITIES | Deposits: | |||||||
Noninterest-bearing | $ | 13,009 | $ | 16,957 | ||||
Interest-bearing | 326,023 | 352,590 | ||||||
Total deposits | 339,032 | 369,547 | ||||||
Accounts payable and accrued liabilities | 5,377 | 9,331 | ||||||
TOTAL LIABILITIES | 344,409 | 378,878 | ||||||
SHAREHOLDERS' | Common stock - $0.01 par value per share, 50,000,000 shares | |||||||
EQUITY | authorized; 4,475,892 shares issued and outstanding as of | |||||||
the periods presented | 45 | 45 | ||||||
Additional paid-in capital | 46,885 | 46,881 | ||||||
Retained earnings | 26,979 | 25,266 | ||||||
Accumulated other comprehensive loss | (562) | (779) | ||||||
TOTAL SHAREHOLDERS' EQUITY | 73,347 | 71,413 | ||||||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 417,756 | $ | 450,291 | ||||
(1) Derived from audited financial statements as of December 31, 2024. | ||||||||
TOUCHMARK BANCSHARES, INC. AND SUBSIDIARY | |||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||
(dollars in thousands, except per share data) | 2025 | 2024 | 2025 | 2024 | |||||||||
INTEREST AND | Interest and fees on loans | $ | 5,144 | $ | 7,113 | $ | 16,020 | $ | 22,075 | ||||
DIVIDEND | Income on investment securities | ||||||||||||
INCOME | Taxable interest | 112 | 105 | 321 | 208 | ||||||||
Interest from federal funds sold and other | 812 | 655 | 1,935 | 2,243 | |||||||||
Total interest income | 6,068 | 7,873 | 18,276 | 24,526 | |||||||||
INTEREST | Interest on deposits | 3,374 | 4,633 | 10,736 | 14,907 | ||||||||
EXPENSE | Interest on borrowings | - | 64 | - | 158 | ||||||||
Total interest expense | 3,374 | 4,697 | 10,736 | 15,065 | |||||||||
Net interest income | 2,694 | 3,176 | 7,540 | 9,461 | |||||||||
Provision for credit losses | 150 | 150 | 595 | 336 | |||||||||
Net interest income after provision | 2,544 | 3,026 | 6,945 | 9,125 | |||||||||
NONINTEREST | |||||||||||||
INCOME | Service fees on deposit accounts | 5 | 4 | 6 | 6 | ||||||||
Loan servicing fees | 98 | 134 | 338 | 392 | |||||||||
Other noninterest income | 7 | 746 | 533 | 2,193 | |||||||||
Total noninterest income | 110 | 884 | 877 | 2,591 | |||||||||
NONINTEREST | Salaries and employee benefits | 926 | 1,136 | 2,937 | 3,248 | ||||||||
EXPENSE | Net occupancy expense | 75 | 71 | 193 | 206 | ||||||||
Foreclosed Real Estate Expenses | 173 | 53 | 305 | 543 | |||||||||
Data processing expense | 95 | 85 | 280 | 256 | |||||||||
Loan Collection Expense | 101 | 12 | 165 | 397 | |||||||||
Audits and exams expense | 45 | 43 | 135 | 127 | |||||||||
Board Expenses | 77 | 93 | 335 | 230 | |||||||||
Supervisory Assessments | 75 | 140 | 263 | 517 | |||||||||
Other noninterest expense | 273 | 258 | 914 | 847 | |||||||||
Total noninterest expense | 1,840 | 1,891 | 5,527 | 6,371 | |||||||||
Income before provision for income taxes | 814 | 2,019 | 2,294 | 5,345 | |||||||||
Provision for income taxes | 205 | 491 | 582 | 1,314 | |||||||||
Net income | $ | 609 | $ | 1,528 | $ | 1,712 | $ | 4,031 | |||||
Weighted average shares outstanding - basic | 4,475,892 | 4,475,891 | 4,475,891 | 4,475,891 | |||||||||
Weighted average shares outstanding - diluted | 4,583,737 | 4,583,737 | 4,583,737 | 4,583,737 | |||||||||
Earnings per share | $ | 0.14 | $ | 0.34 | $ | 0.38 | $ | 0.90 | |||||
Diluted earnings per share | $ | 0.13 | $ | 0.33 | $ | 0.37 | $ | 0.88 | |||||
TOUCHMARK BANCSHARES, INC. AND SUBSIDIARY | ||||||||||||||
For the Three Months Ended | ||||||||||||||
(dollars in thousands, except per share data) | September 30, | June 30, | March 31, | December 31, | September 30, | |||||||||
Results of Operations: | ||||||||||||||
Interest income | $ | 6,068 | $ | 5,415 | $ | 6,793 | $ | 7,301 | $ | 7,873 | ||||
Interest expense | 3,374 | 3,507 | 3,855 | 4,285 | 4,697 | |||||||||
Net interest income | 2,694 | 1,908 | 2,938 | 3,016 | 3,176 | |||||||||
Provision for credit losses | 150 | 150 | 295 | 2,240 | 150 | |||||||||
Non-interest income | 110 | 604 | 162 | 4 | 884 | |||||||||
Non-interest expense | 1,840 | 1,851 | 1,836 | 1,256 | 1,908 | |||||||||
Income (loss) before income taxes | 814 | 511 | 969 | (476) | 2,002 | |||||||||
Income taxes (benefit) | 205 | 141 | 236 | (184) | 491 | |||||||||
Net income (loss) | $ | 609 | $ | 370 | $ | 733 | $ | (292) | $ | 1,511 | ||||
Per Share Data: | ||||||||||||||
Basic earnings per share | $ | 0.14 | $ | 0.08 | $ | 0.16 | $ | (0.07) | $ | 0.34 | ||||
Diluted earnings per share | $ | 0.13 | $ | 0.08 | $ | 0.16 | $ | (0.07) | $ | 0.33 | ||||
Book value per share | $ | 16.39 | $ | 16.22 | $ | 16.14 | $ | 15.95 | $ | 16.72 | ||||
Weighted average shares outstanding per quarter - basic | 4,475,892 | 4,475,891 | 4,475,891 | 4,475,891 | 4,475,891 | |||||||||
Weighted average shares outstanding per quarter - diluted | 4,583,737 | 4,583,737 | 4,583,737 | 4,583,737 | 4,583,737 | |||||||||
Financial Condition Data and Ratios: | ||||||||||||||
Loans, net of deferred fees | $ | 329,437 | $ | 332,335 | $ | 362,836 | $ | 379,419 | $ | 389,679 | ||||
Allowance for credit losses | $ | (2,398) | $ | (2,249) | $ | (2,092) | $ | (2,358) | $ | (4,673) | ||||
Total assets | $ | 417,756 | $ | 426,007 | $ | 432,421 | $ | 450,291 | $ | 464,973 | ||||
Total deposits | $ | 339,032 | $ | 348,064 | $ | 354,099 | $ | 369,547 | $ | 382,641 | ||||
Net interest margin | 2.58 % | 1.83 % | 2.71 % | 2.72 % | 2.75 % | |||||||||
Efficiency | 64.26 % | 70.65 % | 58.68 % | 44.81 % | 46.56 % | |||||||||
Asset Quality Data and Ratios: | ||||||||||||||
Total nonperforming assets | $ | 22,323 | $ | 22,409 | $ | 23,042 | $ | 23,039 | $ | 27,735 | ||||
Total nonperforming assets, net of government guarantees | 6,478 | 7,422 | 7,553 | 7,552 | 11,059 | |||||||||
Nonperforming assets to total assets | 5.34 % | 5.26 % | 5.33 % | 5.13 % | 5.95 % | |||||||||
Nonperforming assets to total assets, net of government guarantees | 1.55 % | 1.74 % | 1.75 % | 1.68 % | 2.37 % | |||||||||
Allowance for credit losses to total loans | 0.73 % | 0.68 % | 0.58 % | 0.62 % | 1.20 % | |||||||||
Net (recoveries) charge-offs to average loans (annualized) | (0.00 %) | (0.01 %) | 0.60 % | 4.74 % | 0.34 % | |||||||||
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SOURCE Touchmark Bancshares, Inc.
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