Territorial Bancorp Inc. Declares Dividend
January 26 2015 - 3:40PM
Territorial Bancorp Inc. (Nasdaq:TBNK) (the "Company"),
headquartered in Honolulu, Hawaii, the holding company parent of
Territorial Savings Bank, announces that its Board of Directors has
approved a cash dividend on its common stock of $0.16 per share.
The dividend is expected to be paid on February 23, 2015 to
stockholders of record as of February 9, 2015.
Allan Kitagawa, Chairman and Chief Executive Officer, said "We
have been very successful in increasing our net interest income and
the size of our loan portfolio in 2014. We are working to
improve our shareholder returns by continuing our stock repurchase
program and paying dividends. I am pleased to announce that in
addition to the $0.10 per share special dividend paid in December
2014, we will be paying a quarterly dividend of $0.16 per
share."
Forward-looking statements - this press release
contains forward-looking statements, which can be identified by the
use of words such as "estimate," "project," "believe," "intend,"
"anticipate," "plan," "seek," "expect," "will," "may" and words of
similar meaning. These forward-looking statements include, but are
not limited to:
- statements of our goals, intentions and expectations;
- statements regarding our business plans, prospects, growth and
operating strategies;
- statements regarding the asset quality of our loan and
investment portfolios; and
- estimates of our risks and future costs and benefits.
These forward-looking statements are based on our current
beliefs and expectations and are inherently subject to significant
business, economic and competitive uncertainties and contingencies,
many of which are beyond our control. In addition, these
forward-looking statements are subject to assumptions with respect
to future business strategies and decisions that are subject to
change. We are under no duty to and do not take any obligation to
update any forward-looking statements after the date of this
release.
The following factors, among others, could cause actual results
to differ materially from the anticipated results or other
expectations expressed in the forward-looking statements:
- general economic conditions, either nationally, internationally
or in our market areas, that are worse than expected;
- competition among depository and other financial
institutions;
- inflation and changes in the interest rate environment that
reduce our margins or reduce the fair value of financial
instruments;
- adverse changes in the securities markets;
- changes in laws or government regulations or policies affecting
financial institutions, including changes in regulatory fees and
capital requirements;
- our ability to enter new markets successfully and capitalize on
growth opportunities;
- our ability to successfully integrate acquired entities, if
any;
- changes in consumer spending, borrowing and savings
habits;
- changes in accounting policies and practices, as may be adopted
by the bank regulatory agencies, the Financial Accounting Standards
Board, the Securities and Exchange Commission and the Public
Company Accounting Oversight Board;
- changes in our organization, compensation and benefit
plans;
- changes in our financial condition or results of operations
that reduce capital available to pay dividends; and
- changes in the financial condition or future prospects of
issuers of securities that we own.
Because of these and a wide variety of other uncertainties, our
actual future results may be materially different from the results
indicated by these forward-looking statements.
CONTACT: Walter Ida
(808) 946-1400
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