Territorial Bancorp Inc. Provides Update on Late Filing of Its 2013 Annual Report on Form 10-K
April 09 2014 - 9:00AM
Territorial Bancorp Inc. (Nasdaq:TBNK) (the "Company"),
headquartered in Honolulu, Hawaii, the holding company parent of
Territorial Savings Bank (the "Bank"), announces that it did not
file its Annual Report on Form 10-K for the fiscal year ended
December 31, 2013 (the "2013 Form 10-K") on or before the extended
due date of April 1, 2014. The Company has received a letter from
the Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that
it was no longer in compliance with Nasdaq Rule 5250(c)(1) related
to the filing of periodic financial reports with the Securities and
Exchange Commission.
The issuance of the letter has no immediate effect on the
listing of the Company's common stock, and is considered routine
practice in situations where there are late filings with the
Securities and Exchange
Commission.
The Company believes that the delay in filing the 2013 Form 10-K
has no effect on the Company's earnings for the year ended December
31, 2013, as previously reported by press release dated January 30,
2014.
Forward-looking statements - this press release
contains forward-looking statements, which can be identified by the
use of words such as "estimate," "project," "believe," "intend,"
"anticipate," "plan," "seek," "expect," "will," "may" and words of
similar meaning. These forward-looking statements include, but are
not limited to:
- statements of our goals, intentions and expectations;
- statements regarding our business plans, prospects, growth and
operating strategies; and
- estimates of our risks and future costs and benefits.
These forward-looking statements are based on our current
beliefs and expectations and are inherently subject to significant
business, economic and competitive uncertainties and contingencies,
many of which are beyond our control. In addition, these
forward-looking statements are subject to assumptions with respect
to future business strategies and decisions that are subject to
change. We are under no duty to and do not take any obligation to
update any forward-looking statements after the date of this
release.
The following factors, among others, could cause actual results
to differ materially from the anticipated results or other
expectations expressed in the forward-looking statements:
- general economic conditions, either nationally, internationally
or in our market areas, that are worse than expected;
- competition among depository and other financial
institutions;
- inflation and changes in the interest rate environment that
reduce our margins or reduce the fair value of financial
instruments;
- adverse changes in the securities markets;
- changes in laws or government regulations or policies affecting
financial institutions, including changes in regulatory fees and
capital requirements;
- our ability to enter new markets successfully and capitalize on
growth opportunities;
- our ability to successfully integrate acquired entities, if
any;
- changes in consumer spending, borrowing and savings
habits;
- changes in accounting policies and practices, as may be adopted
by the bank regulatory agencies, the Financial Accounting Standards
Board, the Securities and Exchange Commission and the Public
Company Accounting Oversight Board;
- changes in our organization, compensation and benefit
plans;
- changes in our financial condition or results of operations
that reduce capital available to pay dividends; and
- changes in the financial condition or future prospects of
issuers of securities that we own.
Because of these and a wide variety of other uncertainties, our
actual future results may be materially different from the results
indicated by these forward-looking statements.
CONTACT: Walter Ida
(808) 946-1400
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