Second Quarter 2023 Earnings Announcement

DALLAS, TX (July 12, 2023) – NDBT (North Dallas Bank & Trust Co.), an independent community bank established in 1961, today announced net earnings for three months of $1,340,479 or $0.52 per share, and net earnings for six months of $2,734,259 or $1.06 per share, for the periods ending June 30, 2023.

Larry Miller, President and Chief Executive Officer noted “The velocity of interest rate increases experienced in the last several months has had a significant impact throughout the commercial banking industry.  At NDBT, the loan growth we have generated over the course of the last two years has positioned our bank to meet market demand for higher deposit rates while preserving profitability. We are currently passing the earnings lift realized from these new loans to our depositors in the form of higher interest rates, recognizing that over time, our earnings profile will return to more traditional levels as higher yielding loans advance and current assets reprice. While the current market has created pressure on near term earnings, it has not required the surrender of our longer-term goals.”

Earnings were prepared internally without review by the company’s independent accountants. Financial results are the results of past performance, events and market conditions, and are not a guarantee for future results. Any forward-looking implications derived from this information may differ materially from actual results.

Further information about the earning and financial performance is available from Glenn Henry, Chief Financial Officer, by contacting NDBT.