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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Territorial Bancorp Inc | NASDAQ:TBNK | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.10 | -1.23% | 8.02 | 7.15 | 8.15 | 8.15 | 7.85 | 8.14 | 66,823 | 21:00:35 |
“Our financial results continue to be impacted by the record pace and level of increases in short-term interest rates over the last 15 months,” said Allan Kitagawa, Chairman and Chief Executive Officer. “The efforts by the Federal Reserve to rein in inflation by increasing short-term interest rates over the past six quarters to historically high levels, has put increased pressure on our net interest margins as lower cost transactional deposit and savings accounts have migrated to higher cost time deposits. We expect our net interest margin to continue to decline for the remainder of 2023. Despite these challenges, we have enhanced our liquidity levels, continued to seek ways to retain and grow deposits through promotional campaigns, and focused on maintaining our lending base. Throughout all of this, we have been able to maintain our strong capital levels, which are well above regulatory required levels, our asset quality remains solid, and we continue to have ample liquidity.”
Forward-looking statements - This press release contains forward-looking statements, which can be identified by the use of words such as “estimate,” “project,” “believe,” “intend,” “anticipate,” “plan,” “seek,” “expect,” “will,” “may” and words of similar meaning. These forward-looking statements include, but are not limited to:
These forward-looking statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. We are under no duty to and do not take any obligation to update any forward-looking statements after the date of this release.
The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements:
Because of these and a wide variety of other uncertainties, our actual future results may be materially different from the results indicated by these forward-looking statements.
Contact: Walter Ida (808) 946-1400
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