Touchstone Bankshares, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 30, 2023 at 03:54 pm EDT
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Touchstone Bankshares, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 5.08 million compared to USD 5.41 million a year ago. Net income was USD 0.456 million compared to USD 1.07 million a year ago. Basic earnings per share from continuing operations was USD 0.14 compared to USD 0.33 a year ago. Diluted earnings per share from continuing operations was USD 0.14 compared to USD 0.33 a year ago.
For the nine months, net interest income was USD 15.62 million compared to USD 15.04 million a year ago. Net income was USD 0.545 million compared to USD 2.81 million a year ago. Basic earnings per share from continuing operations was USD 0.16 compared to USD 0.86 a year ago.
Touchstone Bank (the Bank) is a local community bank. The Bank provides depository and lending services to customers primarily within the counties of Dinwiddie, Chesterfield and Prince George and the cities of Colonial Heights, Hopewell, and Petersburg. The Bank offers a range of services, including personal, business, loans, services and tools, and wealth management. The Bank's personal and business services include checking account, savings account, loans, and credit card services. The Bank's services and tools include account services, treasury services and various tools. The Bank provides investment, and insurance products and services through its subsidiary, Infinex Investments, Inc. The Bank also provides networking solutions to Virginia community banks through its subsidiary, McKenney Group, LLC. The Bank has approximately 10 branches serving Southern and Central Virginia and two branches and a loan center serving Northern North Carolina.