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North Dallas Bank & Trust Co. Announces Second Quarter Earnings

/EIN News/ -- DALLAS, July 19, 2024 (GLOBE NEWSWIRE) -- NDBT (North Dallas Bank & Trust Co.), an independent community bank established in 1961, today announced net earnings for three months of $969,777 or $0.38 per share, and net earnings for six months of $1,684,462 or $0.66 per share, for the periods ending June 30, 2024.

Earnings were prepared internally without review by the company’s independent accountants. Financial results are the results of past performance, events and market conditions, and are not a guarantee for future results. Any forward-looking implications derived from this information may differ materially from actual results.

Further information about the earning and financial performance is available from Glenn Henry, Chief Financial Officer, by contacting NDBT.

ABOUT NDBT
Founded in 1961, NDBT (North Dallas Bank & Trust Co.) is an independent community bank with five banking centers located in Dallas, Addison, Frisco, Las Colinas, and Plano. Headquartered on the corner of Preston Road and LBJ at 12900 Preston Road in Dallas, NDBT is dedicated to helping people make smarter choices in business and life by offering authentic banking solutions, wealth management, and innovative online banking tools. NDBT is Member FDIC and an Equal Housing Lender. For more information, call 972.716.7100, or visit online at www.ndbt.com.

Media Contact:
Brian C. Jensen
972-716-7124
brian.jensen@ndbt.com

NORTH DALLAS BANK & TRUST CO.
12900 PRESTON ROAD
DALLAS, TEXAS
               
FINANCIAL HIGHLIGHTS Three Months Ended   Six Months Ended
  June 30   June 30
Income Statement 2023
  2023
  2023
  2023
               
Interest Income 19,396,299     15,259,838     38,118,686     29,334,830  
Interest Expense 10,885,649     6,164,576     21,341,612     11,056,175  
Net Interest Income 8,510,650     9,095,262     16,777,074     18,278,655  
               
Provision for Loan Losses 0     (150,000 )   (440,000 )   (450,000 )
Noninterest Income 1,409,222     1,333,817     2,837,935     2,711,908  
Noninterest Expenses (8,768,035 )   (8,649,886 )   (17,221,354 )   (17,221,970 )
Income Before Taxes & Extraordinary 1,151,837     1,629,193     1,953,655     3,318,593  
               
Income Tax (157,060 )   (288,714 )   (244,193 )   (584,334 )
Income Tax Prior Period (25,000 )   0     (25,000 )   0  
Net Income 969,777     1,340,479     1,684,462     2,734,259  
               
Earnings per Share 0.38     0.52     0.66     1.06  
               
          Six Month Average
  As of June 30   Ended June 30
               
Balance Sheet 2023
  2023
  2023
  2023
               
Total Assets 1,804,015,338     1,684,358,352     1,815,665,160     1,692,290,129  
Total Loans 1,218,113,548     1,064,477,633     1,202,280,136     1,036,825,459  
Deposits 1,485,693,496     1,425,914,001     1,502,816,939     1,483,888,586  
Stockholders' Equity 166,632,291     160,522,874     165,127,241     160,144,964  
               
(Prepared internally without review by
our independent accountants)

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