Triad Business Bank 3rd Quarter Earnings Release from 2022
Triad Business Bank (OTC Pink – “TBBC”) Announces Unaudited Third Quarter Results
Since inception Triad Business Bank (“the Bank”) has had a vision to promote the local economy and support small businesses that are often overlooked by larger financial institutions. It is executing this vision as demonstrated by the fact that in the first nine months of 2022 the Bank processed over $3.7 billion of business transactions from nearly 400 mostly local small businesses. The bank was profitable for the quarter with net income of $228,000, or $0.03 per diluted share. The previous two quarters the Bank was operationally profitable, which is a measure of net income before tax and provision for loan loss outside of generally accepted accounting principles (GAAP). In the September quarter, the Bank’s operating profit increased $303,000 to $449,000 from $146,000 in the June quarter and $61,000 in the March quarter.
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