Thomasville Bancshares, Inc. Announces Third Quarter 2024 Results
THOMASVILLE, Ga., Oct. 28, 2024 (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 quarter ended September 30, 2024.
Third Quarter 2024 Highlights
- Net Income for the quarter of $9,386,870 compared to $8,467,575 for the same period last year, an increase of 11%.
- YTD Net Income of $28,950,864 compared to $26,162,967 for the same period in 2023, an increase of 11%.
- Earnings per share for the first nine months were $4.53 (basic) and $4.36 (diluted).
- YTD Return on Average Assets of 2.21% and Return on Average Tangible Equity of 24.28%.
- Total Assets of $1.816 billion, an increase of $241 million over the same period in 2023.
- Loans grew to $1.514 billion, an increase of $150 million or 11% year-over-year.
- Deposits grew to $1.573 billion, an increase of $220 million or 16% year-over-year.
- Regulatory Capital was $167 million or 9.26% of assets. During the third quarter the company paid a $6.9 million cash dividend ($1.05 per share).
- 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 for the third quarter ended September 30, 2024. We believe that our Bank is well positioned to continue this strong performance through the remainder of 2024 and beyond.”
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 (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 online at www.tnbank.com.
CONTACT: For more information, call 229-226-3300.
