Third Century Bancorp Releases Earnings for the Quarter Ended March 31, 2024
Third Century Bancorp (TDCB)
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Company Research
Source: Business Wire
FRANKLIN, Ind.--(BUSINESS WIRE)--(OTCPINK: TDCB) - Third Century Bancorp (“Company”), the holding company for Mutual Savings Bank (“Bank”), announced it recorded unaudited net income of $330,000 for the quarter ended March 31, 2024, or $0.28 per basic and diluted share, compared to net income of $319,000 for the quarter ended March 31, 2023, or $0.27 per basic and diluted share.“Our first quarter earnings reflect a continued improvement in several quarterly earnings. Repricing of loans, and the addition of loans at higher rates, benefited our bank. However, our earnings continue to feel the impact of higher funding costs,” said David A. Coffey, President and CEO. Coffey continued, “Moving into the rest of 2024, our focus will be to maintain our credit quality, which is among the best of the community banks in Indiana. We will remain engaged in pursuing our strategies to be a more efficient community bank and we will continue our efforts to pursue lower cost funding to positively i
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