Triad Business Bank 2023 2nd Quarter Earnings Release 

Triad Business Bank (OTC Pink – “TBBC”), August 8, 2023, Announces Unaudited Second Quarter 2023
Results

Triad Business Bank (“the Bank”) was formed in 2020 to serve small and mid‐size businesses in the Triad. Since then, the Bank has become a financial partner to over 600 business customers, and in the last six months, the Bank facilitated more than $2.8 billion of transactions, including $1.4 billion in the second quarter. At June 30, 2023, the Bank’s total assets exceeded one half billion dollars, and the Bank had a strong capital foundation with over $60.0 million of total regulatory capital. Asset quality remains strong with no nonperforming or past due loans. Recent market conditions accelerated the rise in cost of deposits, which resulted in a decline in the Bank’s net interest margin and an operating loss of $362,000.
This loss (adjusted for equity related compensation expense) lowered the Bank’s regulatory capital by only 0.32%. In the second quarter 2023, the Bank’s net interest margin largely stabilized at 2.29%, down 9 basis points from 2.38% in the first quarter 2023 and 63 basis points from 2.92% in the fourth quarter 2022. The decline was a result of deposits repricing at a greater pace and amount than loans and investments. Our $315.6 million core loan portfolio has a 2.5 to 3‐year average duration, which may result in an expansion of its margin as loan assets continually reprice.

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