Thomasville Bancshares, Inc., the holding company of Thomasville National Bank and TNB Financial Services held its annual shareholders’ meeting Wednesday, July 15th. The Company’s Chairman and CEO Stephen H. Cheney noted the impact of having the meeting without the usual shareholder attendance due to Covid-19. “Not being able to share the performance of the bank with our loyal shareholders in person was not easy. We hope everyone will watch the video of the annual meeting posted on the bank’s website.”
Cheney stated “Over the last 24 years the support of this community, our shareholders and customers have made our Bank extremely successful.” The Bank reported results for the first six months of 2020. For the period ending June 30, 2020 net income was $9,517,058, a 3% increase over the same period last year, and represented a 20.4% return on average shareholders’ equity. Total assets at mid-year were $1.1 billion, an increase of $151 million over the previous year. The Bank has also experienced strong loan growth. Total loans have increased $192 million over the last twelve months, of which $97 million are PPP loans to small businesses in our community. In commenting on this growth, the Bank’s President Charles H. Hodges, III stated that “Our lending team worked tirelessly to navigate the PPP process and help our small business customers. We were committed to serve our customers no matter the circumstances. We believe our ability to quickly respond to our customers’ loan needs continues to separate us from the trends of the banking industry and is enabling us to achieve solid loan growth and maintain excellent credit quality.”
The Bank’s total Regulatory Capital as of June 30, 2020 was $97.9 million or 8.69% of total assets, well above the 5% capital level considered to be well capitalized by the regulators. “Our capital is strong and increasing” stated Cheney. “A strong capital position is certainly important and is one of our Bank’s strengths.”
Cheney commented on the recent $.50 cash dividend paid on July 2, 2020. “We are very pleased to share the earnings of the Company with the people that made it a reality. The July 2nd dividend was slightly less than the July 2019 dividend, a conservative decision due in large part to the current economic conditions. We believe the Bank is positioned to perform well throughout 2020 and we hope to return a strong dividend to shareholders at the end of the year.”
Thomasville Bancshares, Inc. was founded in 1995 as the holding company for Thomasville National Bank. Today the Bank has total assets of over $1.1 billion. TNB was named one of Georgia’s Top Ranked Banks in each of the last three years in the Georgia Bank Performance Report and was recently recognized by American Banker magazine as one of the Top 200 Community Banks in the country, ranked 3rd in the nation based upon three years average return on shareholders’ equity. The Bank’s investment division, TNB Financial Services, now has client assets over $2.7 billion under advisement and provides financial planning, investments, trust, brokerage and other related financial services. They now have offices located in Georgia, Florida, South Carolina, Texas and Illinois. The Company is headquartered in Thomasville, Georgia and has over 800 local shareholders. Follow TNB online at tnbank.com and on Facebook.