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 $0.18 per share. The dividend is expected to be paid on November 25, 2016 to stockholders of record as of November 10, 2016.
Allan Kitagawa, Chairman and Chief Executive Officer, said, “We are very pleased with our operating results for the third quarter of 2016. The growth in the visitor industry has strengthened Hawaii’s economy and has allowed us to grow our loan portfolio and increase our net income and earnings per share. I am pleased that our residential loan portfolio continues to grow at a strong pace. We look forward to the opening of our 29th branch in the Keeaumoku area.Our continued profitability will allow us to pay our 28th consecutive quarterly dividend.”
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.
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