TBNK - Territorial Bancorp's Earnings Set To Decline Next Year
Territorial Bancorp's (TBNK) earnings are expected to drop next year due to normalization of non-interest income, higher non-interest expense, and compression of net interest margin. The bottom-line is expected to receive some support from loan growth in 2020.
Loan Growth to Improve But Remain Low
TBNK's loan portfolio declined in the third quarter due to repayments as well as loan securitization. According to the earnings release, the company turned $29.2 million worth of loans into mortgage backed securities during the quarter. As the securitization was a one-time event, loan growth is expected