TC Bancshares, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 10, 2022 at 04:48 pm EST
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TC Bancshares, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported net interest income was USD 3.77 million compared to USD 3.14 million a year ago. Net income was USD 0.703018 million compared to USD 0.597844 million a year ago. Basic earnings per share from continuing operations was USD 0.14 compared to USD 0.12 a year ago. Diluted earnings per share from continuing operations was USD 0.14 compared to USD 0.12 a year ago.
For the nine months, net interest income was USD 10.36 million compared to USD 9.01 million a year ago. Net income was USD 1.99 million compared to USD 1.93 million a year ago. Basic earnings per share from continuing operations was USD 0.41 compared to USD 0.12 a year ago. Diluted earnings per share from continuing operations was USD 0.41 compared to USD 0.12 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 Bank's 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. Its primary deposit products are personal checking accounts, business checking accounts, savings accounts, money market accounts and certificates of deposit. 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.