TCBC
TC Bancshares, Inc.21.65
+0.00+0%
Dec 2, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
90.63MP/E (TTM)
721.67Basic EPS (TTM)
0.03Dividend Yield
0%Recent Filings
8-K
Voluntary Nasdaq delisting announced
TC Bancshares announced on July 12, 2024, its voluntary delisting from Nasdaq and deregistration with the SEC to slash compliance costs. The stock's last Nasdaq trade hits August 1, 2024, shifting to OTCQX on August 2 under ticker TCBC without expected disruptions. CEO Eiford stressed the Board's view that savings outweigh listing perks, while the Bank keeps filing public reports with regulators. Trading persists, but reporting eases.
8-K
Semi-annual dividend declared
TC Bancshares declared a semi-annual cash dividend of $0.05 per share on June 20, 2024, payable July 19 to shareholders of record on July 5. This move underscores the company's financial strength amid economic cycles. Yet, forward-looking statements highlight risks from interest rates and regulations. Dividend signals steady commitment.
8-K
Annual meeting elects directors
TC Bancshares, Inc. held its 2024 Annual Meeting on May 16, 2024, where shareholders elected Fortson T. Rumble and Stephanie B. Tillman as Class III directors for three-year terms ending in 2027, with Rumble receiving 2,353,384 votes for and Tillman 2,336,276. The meeting also ratified Wipfli LLP as independent auditors for the year ending December 31, 2024, passing with 3,057,071 votes in favor against 212,631 opposed. This routine governance approval signals steady board continuity amid banking sector scrutiny.
10-Q
Q1 FY2024 results
TC Bancshares posted modest Q1 2024 results, with net income slipping to $22K from $332K a year earlier, as surging deposit costs outpaced interest income gains from a beefier loan book. Net interest income dipped 6.3% year-over-year to $3.4M, with the margin compressing to 3.00% amid higher rates, while loans grew 1.2% quarter-over-quarter to $381.4M, led by commercial real estate up 6.6%. Noninterest income fell 28% on weaker mortgage sales, but expenses rose just 2.7% despite new branches. Cash stood at $23.8M, backed by $60.7M FHLB availability and steady $11M in fixed-rate advances maturing 2026-2027. Shares repurchased totaled 140,519 at $13.96 average. Credit quality held with 1.28% ACL coverage, yet classified loans doubled to $11.7M. Commercial real estate strains loom from office vacancies and refi hurdles.
8-K
New EVP employment agreement
TC Bancshares' TC Federal Bank signed a three-year employment agreement on April 17, 2024, with Michael Penney as Executive Vice President and Chief Credit Officer, setting his base salary at $192,730 annually, with eligibility for up to 20% incentive bonuses and standard benefits. The deal includes 12 months of severance for termination without cause or for good reason, plus enhanced lump-sum payouts tied to a change in control, alongside non-compete and non-solicitation covenants lasting 12 months post-employment. This secures key credit leadership amid banking volatility.
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