Triad Business Bank (OTC Pink - TBBC), April 3, 2025, Amends Unaudited Results For 2024

2025-04-03 04:16:08

(MENAFN- PR Newswire)

GREENSBORO, N.C., April 3, 2025 /PRNewswire/ -- On February 25, 2025, Triad Business Bank (the "Bank") issued a press release announcing unaudited results for 2024. The operating results reported at that time included a $1.1 million allowance for credit loss on a publicly traded corporate bond that had recently lost its investment grade rating and its market value indicated there was credit impairment. The Bank has revised its estimate of the credit impairment and increased the allowance for credit loss on this bond to $2.6 million, resulting in a revised net loss of $ 4.3 million for 2024. The Bank's total regulatory capital is strong, totaling $61.6 million or 12.48% of risk weighted assets at December 31, 2024.

SOURCE Triad Business Bank

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