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Third Century Bancorp reports fiscal results.

Global Banking News-February 26, 2016--Third Century Bancorp reports fiscal results

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Global Banking News - 26 February 2016

Third Century Bancorp (OTCBB:TDCB), the holding company for Mutual Savings Bank, has said that net income of USD165,000 for the quarter ended December 31, 2015, or USD0.13 per share, compared to net income of USD178,000 for the quarter ended December 31, 2014, or USD0.14 per share.

For the 12 months ended December 31, 2015, the company has recorded net income of USD547,000, or USD0.43 per share, compared to net income of USD399,000 for the twelve months ended December 31, 2014, or USD0.31 per share.

Total assets increased USD3.9m to USD127m at December 31, 2015 from USD123.1m at December 31, 2014, an increase of 3.2 percent. Deposits increased USD1m, or 1.1 percent, to USD94.8m at December 31, 2015, from USD93.7m at December 31, 2014. Federal Home Loan Bank advances and other borrowings increased USD2.5m, or 18.5 percent, to USD16m at December 31, 2015 from USD13.5m at December 31, 2014.

The board of directors has declared a dividend of USD0.04 per share for shareholders of record March 15, 2016. The payment date for this quarterly dividend is April 1, 2016.

Mutual Savings Bank is a full-service financial institution based in Johnson County, Indiana. In addition to its main office at 80 East Jefferson Street, Franklin, Indiana, the bank operates branches in Franklin at 1124 North Main Street and the Franklin United Methodist Community, as well as in Nineveh and Trafalgar, Indiana.

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Publication:Global Banking News (GBN)
Date:Feb 26, 2016
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