Triad Business Bank 4th Quarter Earnings Release from 2022
Triad Business Bank (OTC Pink – “TBBC”) Announces Unaudited Results for 2022, including Fourth Quarter Results
CEO Ramsey K. Hamadi commented, “On December 31, 2022, Triad Business Bank (the “Bank”) completed its second full year of operations, and we are proud to report the Bank had two profitable quarters in 2022. We are also proud that our Bank has achieved widespread support in the markets we serve. The Bank had established more than 400 business operating deposit account relationships, principally in the Triad. These businesses transacted more than $5 billion of activity through the Bank during 2022. Continued loan and deposit growth drove our net revenue to $12.1 million for the year and yielded core operating earnings, a non‐GAAP measurement which excludes the provision for loan losses and taxes, of $1.0 million. In addition, excluding the benefit from loans made under the Paycheck Protection Program (“PPP”) and gain or loss on securities, core operating earnings improved $4.1 million over the prior year.”
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