- Third Century Bancorp (TDCB, Financial) reported a 36.15% increase in net income for Q1 2025.
- Total assets increased to $314.11 million, with deposits reaching $245.38 million.
- Stockholders’ equity improved to $10.02 million, bolstered by improved earnings and decreased unrealized losses.
Third Century Bancorp (OTCPINK: TDCB) announced robust financial results for the first quarter of 2025, achieving a net income of $449,000, or $0.38 per share. This marks a significant increase from the previous year's $330,000, or $0.28 per share.
Net interest income rose to $2.12 million, driven by a $114,000 boost in interest income and a reduction in interest expenses. The bank's strategy of focusing on low-cost deposits and maintaining high-quality loan relationships has been credited for this growth.
As of March 31, 2025, Third Century Bancorp's total assets grew to $314.11 million, up from $312.38 million at the end of 2024. Deposits increased to $245.38 million from $240.99 million, reflecting improved liquidity.
Stockholders' equity stood at $10.02 million, up from $9.46 million at the end of 2024, aided by the Quarter's net income and a decrease in net unrealized losses.
The bank reported a provision reversal for credit losses of ($43,000), contrasting with a $2,000 provision expense in the previous year, indicative of enhanced loan quality and early payoffs.
Third Century Bancorp also reported an annualized return on average equity of 19.06% for Q1 2025, a significant improvement from 16.01% in the first quarter of 2024.
