Triad Business Bank 2024 3rd Quarter Earnings Release 

Triad Business Bank (OTC Pink – “TBBC”), November 7, 2024, Announces Unaudited Third Quarter 2024 Results

In the third quarter, Triad Business Bank (the “Bank”) reported an $846,000 improvement in core operating results (net income before provision for credit losses and tax expense, a non-GAAP measurement) which resulted in the Bank having core operating income of $236,000 compared to a loss of $610,000 the previous linked quarter. Ramsey Hamadi, Chief Executive Officer, commented, “The Bank made significant progress in the third quarter executing on several key initiatives, including reducing operating expenses, narrowing its sales focus and expanding the Bank’s margins. Noninterest expense declined $370,000 from the previous quarter due primarily to lower compensation cost for employees and Board of Directors. Net interest income increased $254,000 on a wider net interest margin and a growing balance sheet, where both regulatory capital and tangible book values grew. Total regulatory capital increased $326,000 to $64.9 million due to positive operating income, and tangible book value increased 3% primarily from a decline in comprehensive loss on investment securities held for sale.