Third Century Bancorp (OTCP: TDCB) Reports Quarterly Earnings: Reports 42 Cents EPS

The midweek trading period often brings in some intriguing narratives in the market, and this morning it is going to be interesting to see if the Third Century Bancorp (OTCP: TDCB) stock gets any traction. The company was in the news cycle yesterday after it announced its unaudited financial results for the fourth fiscal quarter and the fiscal year, both of which ended on December 31, 2024.

The Performance

The company, which is the holding company of Mutual Savings Bank, announced that in the quarter, it generated net income to the tune of $492,000, which worked out to earnings per basic and diluted share of $0.42. In the prior year period, the earnings had been $252,000, which translated to earnings per basic and diluted share of $0.22.

Continued Earnings Growth

In the 2024 fiscal year, the earnings were $1,312,000, or earnings per diluted and basic share of $1.13. The earnings in the 2023 fiscal year were $1,018,000, which worked out to earnings per diluted and basic share of $0.88. In the news release, Third Century Bancorp announced that the drop in personnel expenses and the rise in non-interest income had been two of the biggest factors behind the strong performance.

CEO Quote

“Our decrease in personnel expenses and our increase in non-interest income were two of the areas that helped us exceed our financial projections for 2024. We feel this improved performance over 2023 is exciting for our company,” stated David A. Coffey, President and CEO. Coffey concluded, “Community banking in our competitive market is very challenging, yet very rewarding. Our bank, Mutual Savings Bank, turns 135 years old in 2025. After 135 years, we are the only locally based community bank in Johnson County, Indiana. We are proud of serving this community for so many years and look forward to another successful year.”