Form 8-K - Current report
28 Luglio 2023 - 11:15PM
Edgar (US Regulatory)
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2023-07-28
2023-07-28
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION
13 OR 15(D) OF
THE SECURITIES EXCHANGE
ACT OF 1934
Date of Report (Date of earliest event reported):
July 28, 2023
TERRITORIAL BANCORP INC.
(Exact Name of Registrant as Specified in its Charter)
Maryland |
1-34403 |
26-4674701 |
(State
or Other Jurisdiction
of Incorporation) |
(Commission File No.) |
(I.R.S. Employer Identification No.) |
1003 Bishop St., Suite 500, Honolulu, Hawaii |
|
96813 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s telephone
number, including area code: (808) 946-1400
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the
Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ¨
If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Securities registered pursuant to Section 12(b) of the Act
Title
of each class |
|
Trading symbol |
|
Name
of each exchange on which registered |
Common stock, par value $0.01 per share |
|
TBNK |
|
The NASDAQ Stock Market LLC |
On July 28, 2023, the Board of Directors of Territorial
Bancorp Inc. announced a quarterly cash dividend of $0.23 per share payable on August 25, 2023 to shareholders of record as of August
11, 2023. A copy of the press release announcing the cash dividend is attached as Exhibit 99 to this report.
| Item 9.01 | Financial Statements and Exhibits |
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
|
Territorial Bancorp Inc. |
|
|
DATE: July 28, 2023 |
By: |
/s/ Vernon Hirata |
|
Vernon Hirata |
|
Vice Chairman, Co-Chief Operating Officer and Secretary |
Exhibit 99.1
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact: Walter Ida
(808) 946-1400
Territorial Bancorp Inc. Declares Dividend
Honolulu, Hawaii, July 28, 2023 - 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 approved a quarterly cash dividend of $0.23 per share. The dividend is expected to be paid on August 25, 2023
to stockholders of record as of August 11, 2023.
“Our financial results continue to be
impacted by the record pace and level of increases in short-term interest rates over the last 15 months,” said Allan Kitagawa, Chairman
and Chief Executive Officer. “The efforts by the Federal Reserve to rein in inflation by increasing
short-term interest rates over the past six quarters to historically high levels, has put increased pressure on our net interest margins
as lower cost transactional deposit and savings accounts have migrated to higher cost time deposits. We expect our net interest margin
to continue to decline for the remainder of 2023. Despite these challenges, we have enhanced our liquidity levels, continued to seek ways
to retain and grow deposits through promotional campaigns, and focused on maintaining our lending base. Throughout all of this, we have
been able to maintain our strong capital levels, which are well above regulatory required levels, our asset quality remains solid, and
we continue to have ample liquidity.”
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 internationally, nationally 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; |
| · | changes in monetary or fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Federal Reserve Board; |
| · | our ability to enter new markets successfully and capitalize on growth opportunities; |
| · | our ability to successfully integrate acquired entities, if any; |
| · | changes in consumer demand, 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; |
| · | the timing and amount of revenues that we may recognize; |
| · | the value and marketability of collateral underlying our loan portfolios; |
| · | our ability to retain key employees; |
| · | cyberattacks, computer viruses and other technological risks that may breach the security of our websites or other systems to obtain unauthorized
access to confidential information, destroy data or disable our systems; |
| · | technological change that may be more difficult or expensive than expected; |
| · | the ability of third-party providers to perform their obligations to us; |
| · | the ability of the U.S. Government to manage federal debt limits; |
| · | the quality and composition of our investment portfolio; |
| · | the effect of any pandemic disease, including COVID-19, natural disaster, war, act of terrorism, accident or similar
action or event; |
| · | changes in market and other conditions that would affect our ability to repurchase our common stock; and |
| · | changes in our financial condition or results of operations that reduce capital available to pay dividends. |
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.
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Grafico Azioni Territorial Bancorp (NASDAQ:TBNK)
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Da Ago 2024 a Set 2024
Grafico Azioni Territorial Bancorp (NASDAQ:TBNK)
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