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)