Category Archives: Finance & Loans

ZUO INVESTOR ALERT: Hagens Berman Reminds Zuora (ZUO) Investors of August 13, 2019 Lead Plaintiff Deadline, Investors Who Lost $100,000+ May Contact the Firm

SAN FRANCISCO, CA / ACCESSWIRE / July 18, 2019 / Hagens Berman Sobol Shapiro LLP reminds investors in Zuora, Inc. (NYSE: ZUO) of the August 13, 2019 Lead Plaintiff deadline in the securities class action, Roberts v. Zuora, Inc. et al., No. 19-cv-03422, pending in the U.S. District Court for the Northern District of California.

If you purchased or otherwise acquired Zuora securities between April 12, 2018 and May 30, 2019 (the “Class Period”) and suffered losses you do not need to sign up to be included in the putative class of investors.

If you suffered significant losses (in excess of $100,000) you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case.

If you wish to serve as a lead plaintiff in this class action, you must move the Court no later than August 13, 2019. Contact Hagens Berman immediately for more information about the case and being a lead plaintiff.

https://www.hbsslaw.com/cases/zuo

or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing

ZUO@hbsslaw.com.

According to the complaint, Defendants misrepresented and concealed delays in implementing and integrating RevPro, the company’s revenue recognition management software application. When the truth emerged, the price of Zuora’s shares sharply declined.

“We’re focused on investors’ losses and whether Defendants misled investors about product-integration and sales-execution issues,” said Hagens Berman partner Reed Kathrein.

Whistleblowers: Persons with non-public information regarding Zuora should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email ZUO@hbsslaw.com.

# # #

About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:

Reed Kathrein, 510-725-3000

SOURCE: Hagens Berman Sobol Shapiro LLP

ReleaseID: 552599

EROS INVESTOR ALERT: Hagens Berman Reminds Eros Int’l (EROS) Investors of Lead Plaintiff Deadline, Investors Who Lost $50,000+ May Contact the Firm

SAN FRANCISCO, CA / ACCESSWIRE / July 18, 2019 / Hagens Berman Sobol Shapiro LLP reminds investors in Eros International PLC (NYSE: EROS) of the August 20, 2019 Lead Plaintiff deadline in the securities class action, Montesano v. Eros International PLC et al., No. 2:19-cv-14125, filed in the U.S. District Court for the District of New Jersey.

If you purchased or otherwise acquired Eros International securities between July 28, 2017 and June 5, 2019 (the “Class Period”) and suffered losses you do not need to sign up to be included in the putative class of investors.

If you suffered significant losses (in excess of $50,000), you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case. If you wish to serve as a lead plaintiff in this class action, you must move the Court no later than August 20, 2019 (the “Lead Plaintiff Deadline”). Contact Hagens Berman immediately for more information about the case and being a lead plaintiff:

https://www.hbsslaw.com/cases/EROS

or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing

EROS@hbsslaw.com.

According to the complaint, Defendants misled investors by concealing (1) multiple related-party transactions that appear designed to hide receivables, and (2) many of Eros’s reported receivables do not actually exist.

“We’re focused on investors’ losses and the extent to which Defendants may have misled investors about the economic substance of certain Company transactions and the sufficiency of internal controls over financial reporting,” said Hagens Berman partner Reed Kathrein.

Whistleblowers: Persons with non-public information regarding Eros should consider their options to help in the lawsuit or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email EROS@hbsslaw.com.

# # #

About Hagens Berman

Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:

Reed Kathrein, 510-725-3000

SOURCE: Hagens Berman Sobol Shapiro LLP

ReleaseID: 552267

PVTL INVESTOR ALERT: Hagens Berman Reminds Pivotal Software (PVTL) Investors of August 19, 2019 Lead Plaintiff Deadline, Investors Who Lost $50,000+ May Contact the Firm

SAN FRANCISCO, CA / ACCESSWIRE / July 18, 2019 / Hagens Berman Sobol Shapiro LLP reminds investors in Pivotal Software, Inc. (NYSE: PVTL) of the August 19, 2019 Lead Plaintiff deadline in the securities class action pending in the U.S. District Court for the Northern District of California.

If you purchased or otherwise acquired Pivotal securities during the Class Period (April 21, 2018 – June 4, 2019) and suffered losses you are automatically included in the putative class of investors.

If you suffered significant losses (in excess of $50,000), you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case. If you wish to serve as a lead plaintiff in this class action, you must move the Court no later than August 19, 2019 (the “Lead Plaintiff Deadline”). Contact Hagens Berman immediately for more information about the case and being a lead plaintiff:

https://www.hbsslaw.com/cases/PVTL

or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing

PVTL@hbsslaw.com.

According to the complaint, Defendants concealed problems with (1) Pivotal’s sales execution, and (2) sales deferrals, lengthening sales cycles, and diminished growth for the Company’s outdated and sub-standard product platform. Wedbush analysts reportedly called Pivotal’s Q1 2020 results and guidance a “train wreck” and asserted that Pivotal’s “management team does not have a handle on the underlying issues negatively impacting its sales cycles.”

“We’re focused on investors’ losses and whether management misrepresented customer demand for its main Cloud Foundry offering,” said Hagens Berman partner Reed Kathrein.

Whistleblowers: Persons with non-public information regarding PVTL should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email PVTL@hbsslaw.com.

# # #

About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:

Reed Kathrein, 510-725-3000

SOURCE: Hagens Berman Sobol Shapiro LLP

ReleaseID: 552594

RMED INVESTOR ALERT: Hagens Berman Reminds Ra Medical (RMED) Investors of August 9, 2019 Lead Plaintiff Deadline, Investors Who Lost $50,000+ May Contact the Firm

SAN FRANCISCO, CA / ACCESSWIRE / July 18, 2019 / Hagens Berman Sobol Shapiro LLP reminds investors in Ra Medical Systems, Inc. (NYSE: RMED) of the August 9, 2019 Lead Plaintiff deadline in the securities class action, Derr v. Ra Medical Systems, Inc. et al., 3:19-cv-01079, pending in the U.S. District Court for the Southern District of California.

If you purchased or otherwise acquired RMED securities between September 23, 2018 and June 10, 2019 (the “Class Period”) and suffered losses you do not need to sign up to be included in the putative class of investors.

If you suffered significant losses (in excess of $50,000) you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case.

If you wish to serve as a lead plaintiff in this class action, you must move the Court no later than August 9, 2019. Contact Hagens Berman immediately for more information about the case and being a lead plaintiff.

https://www.hbsslaw.com/cases/rmed

or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing

RMED@hbsslaw.com.

According to the complaint, Ra Medical’s Initial Public Offering (“IPO”) materials misrepresented and concealed sales personnel issues and problems in the Company’s manufacturing process for catheters.

“We’re focused on investors’ losses and whether Defendants misled investors about production and sales-execution issues,” said Hagens Berman partner Reed Kathrein.

Whistleblowers: Persons with non-public information regarding Ra Medical Systems should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email RMED@hbsslaw.com.

# # #

About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:

Reed Kathrein, 510-725-3000

SOURCE: Hagens Berman Sobol Shapiro LLP

ReleaseID: 552591

Trinity Bank Reports Return on Assets of 1.23%

TRINITY BANK REPORTS 2019 2nd QUARTER NET INCOME OF $374,000
YTD RETURN ON ASSETS 1.23%
YTD RETURN ON EQUITY 9.14%

FORT WORTH, TX / ACCESSWIRE / July 18, 2019 / Trinity Bank N.A. (OTC Pink: TYBT) today announced operating results for the second quarter and the six months ending June 30, 2019.

Results of Operation

For the second quarter 2019, Trinity Bank, N.A. reported Net Income after Taxes of $374,000, a decrease of 67.7% over second quarter 2018 earnings of $1,159,000. Earnings per diluted common share for the second quarter 2019 amounted to $0.33, a decrease of 67.60% over second quarter 2018 results of $1.03 per diluted common share.

For the first six months of 2019, Net Income after Taxes were $1,576,000, a decrease of 31.1% over the first half of 2018 results of $2,287,000. Earnings per diluted common share for the first half of 2019 were $1.41, a decrease of 30.7% over the first half of 2018 results of $2.03 per diluted common share.

President Jeff Harp stated, “For the second time in our 16 year history, we have identified a large borrower in financial difficulty. The borrower has deeded some property back to the bank in lieu of foreclosure, and the $1,000,000 loan loss provision we made in 2Q covers 100% of the remaining exposure. We have aggressive collection efforts underway. In spite of this, we are on pace to have our second best earnings year since inception. The returns generated this year will still be well above the performance of our bank peer group.”

“One of the positive aspects of maintaining a strong Capital base (13.05% as of June 30, 2019 – substantially in excess of our peer bank group) is that one problem loan does not impact our growth plans or our dividend policy.”

Richard Burt, Executive Vice President, stated, “Since 2015, we have added staff to build a base for doubling the size of the Bank and to implement a management succession plan for some of our founding employees. I am pleased to announce that we are adding a senior operations person this month that will complete our staff for the foreseeable future. We, as a management team, feel we have the right team in place and the necessary infrastructure to once again begin growing our operating revenue faster than our expenses.”

Actual for Quarter

3 Months

3 Months

(in 000’s)

06/30/2019

06/30/2018

%

Net Interest Income

$
2,977

$
2,350

14.9
%

Non-Interest Income

122

137

97.1
%

Non-Interest Expense

(1,279
)

(1,139
)

12.3
%

Pretax Pre-provision Income

1,345

1,348

-0.2
%

Gains on Sale of Securities and Other Assets

1

7

N/M

Loan Loss Provision

(1,000
)

(30
)

N/M

Pretax Income

346

1,325

N/M

Income Tax

28

(166
)

(116.9
)%

Net Income

$
374

$
1,159

(67.7
)%

Diluted Weighted Average Shares

1,119

1,122

Earnings Per Share

0.33

1.03

(67.6
)%

Actual for 6 months

6 Months

6 Months

(in 000’s)

06/30/2019

06/30/2018

%

Net Interest Income

$
4,922

$
4,627

6.4
%

Non-Interest Income

245

266

(7.9
)%

Non-Interest Expense

(2,406
)

(2,271
)

5.9
%

Pretax Pre-provision Income

2,761

2,622

5.3
%

Gains on Sale of Securities and Other Assets

(2
)

7

N/M

Loan Loss Provision

(1,030
)

(30
)

N/M

Pretax Income

1,729

2,599

(33.5
)%

Income Tax

(153
)

(312
)

(51.0
)%

Net Income

$
1,576

$
2,287

(31.1
)%

Diluted Weighted Average Shares

1,118

1,124

Earnings Per Share

1.41

2.03

(30.7
)%

Trinity Bank, N.A. is a commercial bank that began operations May 28, 2003. For a full financial statement, visit Trinity Bank’s website: www.trinitybk.com Regulatory reporting format is also available at www.fdic.gov.

###

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. is a commercial bank that began operations May 28, 2003. For a full financial statement, 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

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

Quarter Ended

Six Months Ending

June 30

%

June 30

%

EARNINGS SUMMARY

2019

2018

Change

2019

2018

Change

Interest income

$
2,977

$
2,591

14.9
%

$
5,791

$
5,077

14.1
%

Interest expense

475

241

97.1
%

869

450

93.1
%

Net Interest Income

2,502

2,350

6.5
%

4,922

4,627

6.4
%

Service charges on deposits

42

37

13.5
%

81

73

11.0
%

Other income

80

100

-20.0
%

164

193

-15.0
%

Total Non Interest Income

122

137

-10.9
%

245

266

-7.9
%

Salaries and benefits expense

788

731

7.8
%

1,551

1,360

14.0
%

Occupancy and equipment expense

116

106

9.4
%

223

227

-1.8
%

Other expense

375

302

24.2
%

632

684

-7.6
%

Total Non Interest Expense

1,279

1,139

12.3
%

2,406

2,271

5.9
%

Pretax pre-provision income

1,345

1,348

-0.2
%

2,761

2,622

5.3
%

Gain on sale of securities

1

7

N/M

(2
)

7

N/M

Gain on sale of foreclosed assets

0

0

N/M

0

0

N/M

Gain on sale of assets

0

0

N/M

0

0

N/M

Provision for Loan Losses

1,000

30

N/M

1,030

30

N/M

Earnings before income taxes

346

1,325

-73.9
%

1,729

2,599

-33.5
%

Provision for income taxes

(28
)

166

-116.9
%

153

312

-51.0
%

Net Earnings

$
374

$
1,159

-67.7
%

$
1,576

$
2,287

-31.1
%

Basic earnings per share

0.34

1.05

-67.6
%

1.43

2.07

-30.7
%

Basic weighted average shares

1,100

1,103

1,099

1,105

outstanding

Diluted earnings per share – estimate

0.33

1.03

-67.6
%

1.41

2.03

-30.7
%

Diluted weighted average shares outstanding

1,119

1,122

1,118

1,124

Average for Quarter

Average for Six Months

June 30

%

June 30

%

BALANCE SHEET SUMMARY

2019

2018

Change

2019

2018

Change

Total loans

$
156,571

$
147,227

6.3
%

$
154,327

$
142,610

8.2
%

Total short term investments

26,034

10,843

140.1
%

19,038

16,905

12.6
%

Total investment securities

74,627

84,981

-12.2
%

76,940

88,821

-13.4
%

Earning assets

257,232

243,051

5.8
%

250,305

248,336

0.8
%

Total assets

264,826

250,070

5.9
%

258,314

255,098

1.3
%

Noninterest bearing deposits

73,665

80,637

-8.6
%

73,772

81,427

-9.4
%

Interest bearing deposits

154,918

135,940

14.0
%

148,664

141,151

5.3
%

Total deposits

228,583

216,577

5.5
%

222,436

222,578

-0.1
%

Fed Funds Purchased and Repurchase Agreements

0

1,566

N/M

590

787

N/M

Shareholders’ equity

$
35,301

$
31,236

13.0
%

$
34,624

$
31,272

10.7
%

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

Average for Quarter Ending

June 30,

March 31,

Dec 31,

Sept. 30,

June 30,

BALANCE SHEET SUMMARY

2019

2019

2018

2018

2018

Total loans

$
156,571

$
152,227

$
144,801

$
145,280

$
147,227

Total short term investments

26,034

12,728

23,175

18,368

10,843

Total investment securities

74,627

79,278

79,700

80,509

84,981

Earning assets

257,232

244,233

247,676

244,157

243,051

Total assets

264,826

251,901

255,113

251,839

250,070

Noninterest bearing deposits

73,665

73,881

81,187

83,151

80,637

Interest bearing deposits

154,918

142,339

141,081

135,815

135,940

Total deposits

228,583

216,220

222,268

218,966

216,577

Fed Funds Purchased and Repurchase Agreements

0

1,187

0

0

1,566

Shareholders’ equity

$
35,301

$
33,940

$
31,948

$
32,151

$
31,236

Quarter Ended

June 30,

March 31,

Dec 31,

Sept. 30,

June 30,

HISTORICAL EARNINGS SUMMARY

2019

2019

2018

2018

2018

Interest income

$
2,977

$
2,814

$
2,785

$
2,658

$
2,591

Interest expense

475

394

358

309

241

Net Interest Income

2,502

2,420

2,427

2,349

2,350

Service charges on deposits

42

40

31

38

37

Other income

80

83

101

111

100

Total Non Interest Income

122

123

132

149

137

Salaries and benefits expense

788

763

757

707

731

Occupancy and equipment expense

116

107

120

119

106

Other expense

375

259

289

272

302

Total Non Interest Expense

1,279

1,129

1,166

1,098

1,139

Pretax pre-provision income

1,345

1,414

1,393

1,400

1,348

Gain on sale of securities

1

(2
)

3

4

7

Gain on sale of foreclosed assets

0

0

0

0

0

Gain on sale of other assets

0

0

0

0

0

Provision for Loan Losses

1,000

30

30

30

30

Earnings before income taxes

346

1,382

1,366

1,374

1,325

Provision for income taxes

(28
)

180

166

184

166

Net Earnings

$
374

$
1,202

$
1,200

$
1,190

$
1,159

Diluted earnings per share

$
0.33

$
1.08

$
1.08

$
1.07

$
1.03

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

Ending Balance

June 30,

March 31,

Dec 31,

Sept. 30,

June 30,

HISTORICAL BALANCE SHEET

2019

2019

2018

2018

2018

Total loans

$
156,014

$
160,028

$
154,184

$
143,846

$
150,833

Total short term investments

19,321

14,160

13,127

23,080

7,454

Total investment securities

72,014

75,906

81,896

79,234

78,840

Total earning assets

247,349

250,094

249,207

246,160

237,127

Allowance for loan losses

(2,224
)

(1,703
)

(1,671
)

(1,664
)

(1,634
)

Premises and equipment

2,580

2,613

2,627

2,652

2,729

Other Assets

8,040

5,506

7,018

5,892

7,582

Total assets

255,745

256,510

257,181

253,040

245,804

Noninterest bearing deposits

76,168

69,934

85,668

81,856

79,678

Interest bearing deposits

143,710

150,895

137,979

137,926

133,922

Total deposits

219,878

220,829

223,647

219,782

213,600

Fed Funds Purchased and Repurchase Agreements

0

0

0

0

0

Other Liabilities

614

1,158

701

1,311

610

Total liabilities

220,492

221,987

224,348

221,093

214,210

Shareholders’ Equity Actual

34,572

34,522

34,051

32,772

32,244

Unrealized Gain – AFS

681

1

(1,218)

(825)

(650)

Total Equity

$
35,253

$
34,523

$
32,833

$
31,947

$
31,594

Quarter Ending

June 30,

March 31,

Dec 31,

Sept. 30,

June 30,

NONPERFORMING ASSETS

2019

2019

2018

2018

2018

Nonaccrual loans

$
446

$
952

$
60

$
137

$
179

Restructured loans

$
0

$
0

$
0

$
0

$
0

Other real estate & foreclosed assets

$
320

$
0

$
0

$
0

$
0

Accruing loans past due 90 days or more

$
0

$
0

$
0

$
0

$
0

Total nonperforming assets

$
766

$
952

$
60

$
137

$
179

Accruing loans past due 30-89 days

$
0

$
477

$
0

$
456

$
458

Total nonperforming assets as a percentage

of loans and foreclosed assets

0.49
%

0.59
%

0.04
%

0.10
%

0.12
%

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

Quarter Ending

ALLOWANCE FOR

June 30,

March 31,

Dec 31,

Sept. 30,

June 30,

LOAN LOSSES

2019

2019

2018

2018

2018

Balance at beginning of period

$
1,703

$
1,671

$
1,664

$
1,634

$
1,604

Loans charged off

498

0

23

0

0

Loan recoveries

19

2

0

0

0

Net (charge-offs) recoveries

(479
)

2

(23
)

0

0

Provision for loan losses

1,000

30

30

30

30

Balance at end of period

$
2,224

$
1,703

$
1,671

$
1,664

$
1,634

Allowance for loan losses

as a percentage of total loans

1.43
%

1.06
%

1.08
%

1.10
%

1.08
%

Allowance for loan losses

as a percentage of nonperforming assets

290
%

179
%

2785
%

930
%

913
%

Net charge-offs (recoveries) as a

percentage of average loans

0.31
%

-0.01
%

0.02
%

0.00
%

0.00
%

Provision for loan losses

as a percentage of average loans

0.64
%

0.02
%

0.02
%

0.02
%

0.02
%

Quarter Ending

June 30,

March 31,

Dec 31,

Sept. 30,

June 30,

SELECTED RATIOS

2019

2019

2018

2018

2018

Return on average assets (annualized)

0.56
%

1.91
%

1.88
%

1.89
%

1.85
%

Return on average equity (annualized)

4.24
%

14.17
%

15.02
%

14.81
%

14.84
%

Return on average equity (excluding unrealized gain on investments)

4.27
%

13.90
%

14.39
%

14.53
%

14.51
%

Average shareholders’ equity to average assets

13.33
%

13.47
%

12.52
%

12.77
%

12.49
%

Yield on earning assets (tax equivalent)

4.85
%

4.86
%

4.75
%

4.59
%

4.53
%

Effective Cost of Funds

0.74
%

0.64
%

0.58
%

0.51
%

0.40
%

Net interest margin (tax equivalent)

4.11
%

4.22
%

4.17
%

4.08
%

4.13
%

Efficiency ratio (tax equivalent)

46.2
%

41.9
%

37.9
%

41.5
%

43.0
%

End of period book value per common share

$
32.14

$
31.44

$
29.85

$
29.07

$
28.13

End of period book value (excluding unrealized gain on investments)

$
31.52

$
31.44

$
30.96

$
29.82

$
29.31

End of period common shares outstanding (in 000’s)

1,097

1,098

1,100

1,099

1,100

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

Quarter Ending

June 30,
2019

June 30,
2018

Tax

Tax

Average

Equivalent

Average

Equivalent

YIELD ANALYSIS

Balance

Interest

Yield

Yield

Balance

Interest

Yield

Yield

Interest Earning Assets:

Short term investment

$
25,653

153

2.39
%

2.39
%

$
10,466

50

1.91
%

1.91
%

FRB Stock

381

6

6.00
%

6.00
%

377

6

6.00
%

6.00
%

Taxable securities

1,593

9

2.26
%

2.26
%

154

1

2.60
%

2.60
%

Tax Free securities

73,034

539

2.95
%

3.74
%

84,827

599

2.82
%

3.58
%

Loans

156,571

2,270

5.80
%

5.80
%

147,227

1,935

5.26
%

5.26
%

Total Interest Earning Assets

257,232

2,977

4.63
%

4.85
%

243,051

2,591

4.26
%

4.53
%

Noninterest Earning Assets:

Cash and due from banks

5,021

4,400

Other assets

4,322

4,229

Allowance for loan losses

(1,749
)

(1,610
)

Total Noninterest Earning Assets

7,594

7,019

Total Assets

$
264,826

$
250,070

Interest Bearing Liabilities:

Transaction and Money Market accounts

125,618

321

1.02
%

1.02
%

112,148

166

0.59
%

0.59
%

Certificates and other time deposits

29,300

154

2.10
%

2.10
%

23,792

65

1.09
%

1.09
%

Other borrowings

0

0

0.00
%

0.00
%

1,566

10

2.55
%

2.55
%

Total Interest Bearing Liabilities

154,918

475

1.23
%

1.23
%

137,506

241

0.70
%

0.70
%

Noninterest Bearing Liabilities:

Demand deposits

73,665

80,637

Other liabilities

942

691

Shareholders’ Equity

35,301

31,236

Total Liabilities and Shareholders Equity

$
264,826

$
250,070

Net Interest Income and Spread

2,502

3.40
%

3.62
%

2,350

3.56
%

3.83
%

Net Interest Margin

3.89
%

4.11
%

3.86
%

4.13
%

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

June 30

June 30

2019

%

2018

%

LOAN PORTFOLIO

Commercial and industrial

$
87,559

56.05
%

$
88,292

58.54
%

Real estate:

Commercial

23,311

14.92
%

20,961

13.90
%

Residential

22,471

14.39
%

23,518

15.59
%

Construction and development

22,445

14.37
%

17,387

11.53
%

Consumer

419

0.27
%

675

0.45
%

Total loans (gross)

156,205

100.00
%

150,833

100.00
%

Unearned discounts

0

0.00
%

0

0.00
%

Total loans (net)

$
156,205

100.00
%

$
150,833

100.00
%

June 30

June 30

2019

2018

REGULATORY CAPITAL DATA

Tier 1 Capital

$
34,572

$
32,244

Total Capital (Tier 1 + Tier 2)

$
36,708

$
33,878

Total Risk-Adjusted Assets

$
170,838

$
164,787

Tier 1 Risk-Based Capital Ratio

20.24
%

19.56
%

Total Risk-Based Capital Ratio

21.49
%

20.56
%

Tier 1 Leverage Ratio

13.05
%

12.89
%

OTHER DATA

Full Time Equivalent

Employees (FTE’s)

22

20

Stock Price Range

(For the Three Months Ended):

High

$
66.00

$
60.00

Low

$
58.90

$
59.75

Close

$
64.00

$
60.00

SOURCE: Trinity Bank N.A.

ReleaseID: 552567

SHAREHOLDER ALERT: STG BOX RLGY: The Law Offices of Vincent Wong Reminds Investors of Important Class Action Deadlines

NEW YORK, NY / ACCESSWIRE / July 18, 2019 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff. There will be no obligation or cost to you.

Sunlands Technology Group (NYSE: STG)

If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/sunlands-technology-group-loss-submission-form?prid=2490&wire=1
Lead Plaintiff Deadline: August 26, 2019
Class Period: shareholders of Sunlands Technology Group who purchased shares pursuant and/or traceable to Sunlands’ March 2018 initial public stock offering.

Allegations against STG include that: (1) Sunlands’ student enrollment was declining; (2) Sunlands’ gross billings were declining; (3) Sunlands’ marketing tactics were not as robust as described in the Registration Statement; and (4) as a result, Defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Box, Inc. (NYSE: BOX)

If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/box-inc-loss-submission-form?prid=2490&wire=1
Lead Plaintiff Deadline: August 5, 2019
Class Period: November 28, 2018 to June 3, 2019

Allegations against BOX include that: (1) the Company was unable to close large deals within the quarter; (2) that, as a result, the Company’s revenue would be materially impacted; and (3) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Realogy Holdings Corp. (NYSE: RLGY)

If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/realogy-holdings-corp-loss-submission-form?prid=2490&wire=1
Lead Plaintiff Deadline: September 9, 2019
Class Period: February 24, 2017 to May 22, 2019

Allegations against RLGY include that: (1) Realogy was engaged in anticompetitive behavior by requiring property sellers to pay the commissions of a buyer’s broker at an inflated rate; (2) Realogy’s anticompetitive actions would prompt the U.S. Department of Justice (“DOJ”) to open an antitrust investigation into the real estate industry’s practices regarding brokers’ commissions; and (3) as a result, Defendants’ statements about the Realogy’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

To learn more contact Vincent Wong, Esq. either via email vw@wongesq.com or by telephone at 212.425.1140.

Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: vw@wongesq.com

SOURCE: The Law Offices of Vincent Wong

ReleaseID: 552604

SHAREHOLDER ALERT: MBNKF BUD CTST: The Law Offices of Vincent Wong Reminds Investors of Important Class Action Deadlines

NEW YORK, NY / ACCESSWIRE / July 18, 2019 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff. There will be no obligation or cost to you.

Metro Bank PLC (OTC Pink: MBNKF)

If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/metro-bank-plc-loss-submission-form?prid=2489&wire=1
Lead Plaintiff Deadline: July 29, 2019
Class Period: March 6, 2018 to May 1, 2019

Allegations against MBNKF include that: (1) Metro Bank misclassified the risk terms of many of its loans; (2) accordingly, Metro Bank failed to maintain sufficient capital; (3) this conduct would lead to investigations by the PRA and FCA; (4) this conduct would also lead to the reduction of deposits at Metro Bank from larger commercial and partnership clients; and (5) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.

Anheuser-Busch Inbev Sa/Nv (NYSE: BUD)

If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/anheuser-busch-inbev-sa-nv-loss-submission-form?prid=2489&wire=1
Lead Plaintiff Deadline: August 20, 2019
Class Period: March 1, 2018 to October 24, 2018

According to the filed complaint, Defendants issued a steady stream of materially false and misleading reassurances about Anheuser Busch’s deleveraging efforts, cost cutting measures, EBITDA growth, the sufficiency of its liquidity and its debt maturity profile during the Class Period. These positive statements by Defendants created a false impression and materially misled investors about the Company’s finances, including the sustainability of Anheuser-Busch’s dividends. Once Defendants chose to speak about Anheuser-Busch’s finances, they had a duty to speak completely and truthfully, including speaking about those factors that were then having a material adverse effect on the Company’s deleveraging efforts.

CannTrust Holdings Inc. (NYSE: CTST)

If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/canntrust-holdings-inc-loss-submission-form?prid=2489&wire=1
Lead Plaintiff Deadline: September 9, 2019
Class Period: November 14, 2018 to July 5, 2019

Allegations against CTST include that: (1) the Company was growing cannabis in its Pelham greenhouse while applications for regulatory approval were still pending; (2) the Company’s Pelham greenhouse did not comply with certain regulations; (3) as a result, the Company was reasonably likely to face an inventory hold by Health Canada until the Pelham facility becomes compliant with applicable regulations; (4) as a result, the Company’s customers would face shortages and would likely seek product from CannTrust’s competitors; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.

To learn more contact Vincent Wong, Esq. either via email vw@wongesq.com or by telephone at 212.425.1140.

Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: vw@wongesq.com

SOURCE: The Law Offices of Vincent Wong

ReleaseID: 552602

IMPORTANT INVESTOR ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Realogy Holdings Corp. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

LOS ANGELES, CA / ACCESSWIRE / July 18, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Realogy Holdings Corp. (“Realogy” or “the Company”) (NYSE: RLGY) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s shares between February 24, 2017 and May 22, 2019, inclusive (the ”Class Period”), are encouraged to contact the firm before September 9, 2019.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Realogy engaged in anticompetitive business practices by property sellers to pay the inflated rates of the buyer’s broker. These practices resulted in the Department of Justice opening an antitrust investigation into the real estate industry’s business practices. Based on these facts, the Company’s public statements were false and materially misleading. When the market learned the truth about Realogy, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
Sherin Mahdavian, Esq.,
www.schallfirm.com
Office: 310-301-3335
Cell: 424-303-1964
info@schallfirm.com

SOURCE: The Schall Law Firm

ReleaseID: 552600

IMPORTANT INVESTOR ALERT: The Schall Law Firm Announces it is Investigating Claims Against Sunlands Technology Group and Encourages Investors with Losses to Contact the Firm

LOS ANGELES, CA / ACCESSWIRE / July 18, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Sunlands Technology Group (“Sunlands” or “the Company”) (STG) for violations of state laws.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.
310-301-3335
Cell: 424-303-1964
info@schallfirm.com
www.schallfirm.com

SOURCE: The Schall Law Firm

ReleaseID: 552601

INVESTOR ALERT: The Schall Law Firm Announces it is Investigating Claims Against Intelligent Systems Corporation and Encourages Investors with Losses to Contact the Firm

LOS ANGELES, CA / ACCESSWIRE / July 18, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Intelligent Systems Corporation (“Intelligent Systems” or “the Company”) (NYSE American: INS) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Aurelius Value published a report on May 24, 2019, alleging that the financial expert on Intelligent Systems’ Audit Committee engaged in improper accounting practices and also alleged the Company’s CEO engaged in many undisclosed related-party transactions. Based on this news, shares of Intelligent Systems fell nearly 11% on the same day.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.
310-301-3335
Cell: 424-303-1964
info@schallfirm.com
www.schallfirm.com

SOURCE: The Schall Law Firm

ReleaseID: 552598