{"id":475627,"date":"2021-04-13T09:06:14","date_gmt":"2021-04-13T13:06:14","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/tri-county-financial-group-inc-reports-fourth-quarter-2020-financial-results\/"},"modified":"2021-04-13T09:06:14","modified_gmt":"2021-04-13T13:06:14","slug":"tri-county-financial-group-inc-reports-fourth-quarter-2020-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/tri-county-financial-group-inc-reports-fourth-quarter-2020-financial-results\/","title":{"rendered":"Tri-County Financial Group, Inc. Reports Fourth Quarter 2020 Financial Results"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n MENDOTA, Ill.<\/span>, April 13, 2021<\/span> \/PRNewswire\/ — Tri-County Financial Group, Inc. (The Company) (OTCQX: TYFG) today announced financial results for the fourth quarter of 2020.<\/p>\n

Net income for the fourth quarter of 2020 was $5.8 million<\/span> ($2.36<\/span> per share), compared to $1.8 million<\/span> ($0.74<\/span> per share) during the fourth quarter of 2019. The Company has experienced record earnings for the twelve months ended December 31, 2020<\/span>, with net income of $20.1 million<\/span>, compared to $8.9 million<\/span> for the twelve months ended December 31, 2019<\/span>, an increase of $11.3 million<\/span> or 127%.<\/p>\n

Net interest income was $38.8 million<\/span> during the twelve months ended December 31, 2020<\/span>, compared to $33.5 million<\/span> for the twelve months ended December 31, 2019<\/span>. The net interest margin was 3.31% in 2020, and 3.19% in 2019.<\/p>\n

Noninterest income was $35.9 million<\/span> for the twelve months ended December 31, 2020<\/span>, an increase of $19.2 million<\/span>, or 115.0%, compared to $16.7 million<\/span> during the twelve months ended December 31, 2019<\/span>. The increase can be primarily attributed to growth in mortgage banking fees which increased by $14.6 million<\/span>, or 155%, from $9.4 million<\/span> in the prior year. First State Mortgage net income increased by $9.6 million<\/span> and contributed $10.2 million<\/span> for the year, compared to $0.6 million<\/span> for all of 2019.<\/p>\n

Noninterest expense was $42.0 million<\/span> during the twelve months ended December 31, 2020<\/span>, compared to $36.4 million<\/span> for the twelve months ended December 31, 2019<\/span>, an increase of $5.6 million<\/span>, or 15%. Most of this increase is related to the increased mortgage banking activity, as well as expenses related to the Bank’s core processing conversion to Fiserv Premier.<\/p>\n

Total loans increased $79.1 million<\/span>, or 8%, to $1.05 billion<\/span> from $973 million<\/span> at December 31, 2019<\/span>. There were $30.1 million<\/span> in Paycheck Protection Plan (PPP) loans included in loan balances at December 31, 2020<\/span>. Nonperforming loans as a percent of total loans were 0.73% as of December 31, 2020<\/span>, up slightly from .58% at December 31, 2019<\/span>.<\/p>\n

The Company adjusted the Bank’s provision for loan loss to reflect potential increased credit risk, due to the COVID-19 pandemic. After taking an additional $1.5 million<\/span> the fourth quarter of 2020, the Company has taken $5.1 million<\/span> during 2020, an increase of $3.3 million<\/span> over the prior year. The allowance for loan loss ended at $15.5 million<\/span> at December 31, 2020<\/span>.<\/p>\n

Deposits increased $167.8 million<\/span>, or 17.3%, year-over-year, with much of the growth due to COVID relief programs and PPP funding. \u00a0As a result, borrowed money decreased significantly at December 31, 2020<\/span>, ending at $25.1 million<\/span>, compared to $33.8 million<\/span> at December 31, 2019<\/span>. The investment portfolio of $99.4 million<\/span> decreased slightly over the same period, down from $101.7 million<\/span> at December 31, 2019<\/span>.<\/p>\n

The Company’s capital levels remain solid as of December 31, 2020<\/span>, with a Tier 1 leverage ratio of 9.70% and a total risk-based ratio of 13.8%, compared to 9.9% and 13.3%, respectively, as of December 31, 2019<\/span>. Stimulus relief funding and PPP lending impacted capital ratios at year end 2020 due to strong deposit growth and the SBA guarantee of the PPP loans which carry a 0% risk-weighting.<\/p>\n

On December 30, 2020<\/span>, the Board of Directors declared a regular dividend of $0.15<\/span> per share and a special dividend of $0.15<\/span> per share for a total of $0.30<\/span> per share payable January 14, 2021<\/span>, to shareholders of record as of December 31, 2020<\/span>.<\/p>\n

In announcing the results, President and Chief Executive Officer, Tim McConville<\/span>, stated “Our fourth quarter numbers continued a strong trend and were some of the best in our history. Once again, the strong results from our mortgage subsidiary contributed to the record earnings performance despite significantly increasing our reserves. We are monitoring what effect COVID-19 will have on our credits, but most likely it will be mid-2021 before we have a clearer picture. We do believe, however, we are well-positioned to absorb any losses we may encounter. Growth continues to occur at an impressive pace as we head into 2021.”<\/p>\n

Tri-County Financial Group, Inc. is the parent holding company for First State Bank, with offices in Mendota<\/span>, Batavia<\/span>, Bloomington<\/span>, Geneva<\/span>, LaMoille, McNabb<\/span>, North Aurora<\/span>, Ottawa<\/span>, Peru<\/span>, Princeton<\/span>, Rochelle<\/span>, Shabbona<\/span>, St. Charles<\/span>, Streator<\/span>, Sycamore<\/span>, Waterman<\/span> and West Brooklyn<\/span>. First State Bank is the parent company of First State Mortgage, LLC and First State Insurance. Tri-County Financial Group, Inc. shares are quoted under the symbol TYFG and traded on OTCQX.<\/p>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n TRI COUNTY FINANCIAL GROUP, INC. & SUBSIDIARIES<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n CONSOLIDATED STATEMENT OF INCOME<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n YEAR TO DATE<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (000s omitted, except share data)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 2020<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2019<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Interest Income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 50,322<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a048,088<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Interest Expense<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 11,503<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 14,548<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net Interest Income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 38,819<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 33,540<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Provision for Loan Losses<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 5,050<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,800<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net Interest Income After Provision for Loan Losses<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 33,769<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 31,740<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Other Income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 35,869<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 16,681<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n FDIC Assessments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 426<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 134<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other Expenses<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 41,952<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 36,471<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Income Before Income Taxes<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 27,260<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 11,816<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Applicable Income Taxes<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 7,410<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,943<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Security Gains (Losses)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 293<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net Income (Loss)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 20,143<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a08,873<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Basic Net Income Per Share<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 8.16<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a03.61<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Weighted Average Shares Outstanding<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,469,572<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,456,990<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n TRI-COUNTY FINANCIAL GROUP, INC. & SUBSIDIARIES<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n CONSOLIDATED BALANCE SHEET<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (000s omitted, except share data)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n ASSETS<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n
\n 12\/31\/2020<\/u>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n
\n 12\/31\/2019<\/u>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Cash and Due from Banks<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 84,047<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 14,231<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Federal Funds Sold<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 25,934<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,420<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Investment Securities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 99,437<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 101,715<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Loans and Leases<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,051,578<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 972,501<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Less:\u00a0 Reserve for Loan Losses<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (15,508)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (12,412)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Loans, Net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,036,070<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 960,089<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Bank Premises & Equipment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 27,926<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 25,100<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Goodwill<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 8,425<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6,917<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other Real Estate Owned<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,648<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,725<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Accrued Income Receivable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,147<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6,051<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other Assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 38,206<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 24,533<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 TOTAL ASSETS<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,327,840<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,143,781<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n LIABILITIES<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Noninterest-bearing Deposits<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 180,246<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 108,954<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Interest-bearing Deposits<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 957,801<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 861,302<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Total Deposits<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,138,047<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 970,256<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Repurchase Agreements<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 21,059<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12,748<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n FHLB and Other Borrowings<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 21,003<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Accrued Interest and Other Liabilities<\/span>\n <\/p>\n<\/td>\n

\n

\n 21,292<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 16,241<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Subordinated Debt<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 15,696<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 15,643<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Total Borrowings<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 40,988<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 52,888<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Dividends Payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 751<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 379<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 TOTAL LIABILITIES<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,200,845<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,036,270<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n CAPITAL<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Common Stock<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,476<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,462<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Surplus<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 25,675<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 25,527<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Retained Earnings<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 95,300<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 77,010<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n FASB 115 Adjustment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,544<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,512<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 TOTAL CAPITAL<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 126,995<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 107,511<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n TOTAL LIABILITIES AND CAPITAL<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,327,840<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,143,781<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Book Value Per Share<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 51.29<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 43.66<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Bid Price<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 35.25<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 40.60<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

Contact:
Connie Ganz<\/span>, Senior Vice President
815.538.2265 <\/p>\n

\n \"Cision\" View original content:http:\/\/www.prnewswire.com\/news-releases\/tri-county-financial-group-inc-reports-fourth-quarter-2020-financial-results-301267662.html<\/a><\/p>\n

SOURCE Tri-County Financial Group, Inc<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire MENDOTA, Ill., April 13, 2021 \/PRNewswire\/ — Tri-County Financial Group, Inc. (The Company) (OTCQX: TYFG) today announced financial results for the fourth quarter of 2020. Net income for the fourth quarter of 2020 was $5.8 million ($2.36 per share), compared to $1.8 million ($0.74 per share) during the fourth quarter of 2019. The Company has experienced record earnings for the twelve months ended December 31, 2020, with net income of $20.1 million, compared to $8.9 million for the twelve months ended December 31, 2019, an increase of $11.3 million or 127%. Net interest income was $38.8 million during the twelve months ended December 31, 2020, compared to $33.5 million for the twelve months ended December 31, 2019. The … <\/p>\n

Continue reading “Tri-County Financial Group, Inc. Reports Fourth Quarter 2020 Financial Results”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-475627","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nTri-County Financial Group, Inc. Reports Fourth Quarter 2020 Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/tri-county-financial-group-inc-reports-fourth-quarter-2020-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tri-County Financial Group, Inc. 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