TC Bancshares, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 13, 2023 at 04:31 pm
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TC Bancshares, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 3.33 million compared to USD 3.76 million a year ago. Net loss was USD 0.094587 million compared to net income of USD 0.703018 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to basic earnings per share from continuing operations of USD 0.14 a year ago. Diluted loss per share from continuing operations was USD 0.02 compared to diluted earnings per share from continuing operations of USD 0.14 a year ago.
For the nine months, net interest income was USD 10.58 million compared to USD 10.35 million a year ago. Net income was USD 0.384152 million compared to USD 1.99 million a year ago. Basic earnings per share from continuing operations was USD 0.08 compared to USD 0.41 a year ago. Diluted earnings per share from continuing operations was USD 0.08 compared to USD 0.41 a year ago.
TC Bancshares, Inc. is a bank holding company. The Company, through its subsidiary TC Federal Bank (the Bank), operates a chartered savings bank. The Bankâs business consists primarily of taking deposits from the general public and investing those deposits, together with funds generated from operations in one-to-four family residential real estate loans, commercial real estate and multi-family loans, acquisition, development and land loans, commercial and industrial loans, home equity loans and lines of credit and consumer loans. It conducts its business from its main office in Thomasville, Georgia as well as additional branch banking locations in Tallahassee, Florida and new branch locations in Jacksonville, Florida and Savannah, Georgia. Its investment portfolio includes United States treasury securities; securities issued by the United States government and its agencies or government sponsored enterprises, including mortgage-backed securities and collateralized mortgage obligations.