OTCPK:TDCB

Stock Analysis Report

Third Century Bancorp

Executive Summary

Third Century Bancorp operates as the bank holding company for Mutual Savings Bank that provides various banking products and services to individual and corporate customers in Indiana.

Snowflake

Fundamentals

Flawless balance sheet with acceptable track record.

Share Price & News

How has Third Century Bancorp's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-0.8%

TDCB

1.7%

US Banks

1.3%

US Market


1 Year Return

-4.4%

TDCB

0.3%

US Banks

5.9%

US Market

Return vs Industry: TDCB underperformed the US Banks industry which returned 0.3% over the past year.

Return vs Market: TDCB underperformed the US Market which returned 5.9% over the past year.


Shareholder returns

TDCBIndustryMarket
7 Day-0.8%1.7%1.3%
30 Day-8.5%-2.4%-1.9%
90 Day0%1.0%-1.8%
1 Year-2.2%-4.4%3.2%0.3%8.3%5.9%
3 Year32.2%24.7%52.1%41.7%45.6%36.2%
5 Year71.4%56.6%69.8%51.4%66.1%47.9%

Price Volatility Vs. Market

How volatile is Third Century Bancorp's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Third Century Bancorp undervalued compared to its fair value and its price relative to the market?

13.83x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: TDCB ($11.9) is trading above our estimate of fair value ($2.89)

Significantly Undervalued: TDCB is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: TDCB is poor value based on its PE Ratio (13.8x) compared to the Banks industry average (12.5x).

PE vs Market: TDCB is good value based on its PE Ratio (13.8x) compared to the US market (17.5x).


Price to Earnings Growth Ratio

Low PEG Ratio: Insufficient data to calculate TDCB's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: TDCB is good value based on its PB Ratio (0.8x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Third Century Bancorp forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

14.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TDCB's forecast earnings growth (14.8% per year) is above the savings rate (2.7%).

Earnings vs Market: TDCB's earnings (14.8% per year) are forecast to grow faster than the US market (14.4% per year).

High Growth Earnings: TDCB's earnings are forecast to grow, but not significantly.

Revenue vs Market: Insufficient data to determine if TDCB's revenue is forecast to grow faster than the US market.

High Growth Revenue: Insufficient data to determine if TDCB's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if TDCB's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Third Century Bancorp performed over the past 5 years?

19.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: TDCB's earnings have grown by 19.5% per year over the past 5 years.

Accelerating Growth: TDCB's earnings growth over the past year (51.3%) exceeds its 5-year average (19.5% per year).

Earnings vs Industry: TDCB earnings growth over the past year (51.3%) exceeded the Banks industry 31.8%.


Return on Equity

High ROE: TDCB's Return on Equity (5.9%) is considered low.


Return on Assets

ROA vs Industry: TDCB's Return on Assets is below or equal to the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate TDCB's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is Third Century Bancorp's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: TDCB has a low level of unsold assets or inventory.

Debt Coverage by Assets: TDCB's debt is covered by short term assets (assets are 1.018500x debt).


Financial Institutions Analysis

Asset Level: TDCB's level of assets compared to its equity is low.

Allowance for Bad Loans: TDCB has a sufficient allowance for bad loans.

Low Risk Liabilities: TDCB's liabilities are made up of primarily low risk sources of funding.

Loan Level: TDCB has an acceptable proportion of non-loan assets held.

Low Risk Deposits: TDCB's loans are broadly funded by customer deposits.

Level of Bad Loans: TDCB has an appropriate level of bad loans (0.09%)


Next Steps

Dividend

What is Third Century Bancorp's current dividend yield, its reliability and sustainability?

2.35%

Current Dividend Yield


Dividend Yield vs Market

company2.4%marketbottom25%1.5%markettop25%3.8%industryaverage3.1%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: TDCB's dividend (2.35%) is higher than the bottom 25% of dividend payers in the US market (1.47%).

High Dividend: TDCB's dividend (2.35%) is low compared to the top 25% of dividend payers in the US market (3.77%).

Stable Dividend: TDCB's dividend payments have been volatile in the past 10 years.

Growing Dividend: TDCB's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (2.3%), TDCB's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of Third Century Bancorp's salary, the management and board of directors tenure and is there insider trading?

5.8yrs

Average board tenure


CEO

David Coffey (56yo)

1.8yrs

Tenure

US$164,593

Compensation

Mr. David A. Coffey has been the President, Director and Chief Executive Officer of Third Century Bancorp ("Company") and served as its Chief Operating Officer. He serves as President and Chief Executive O ...


Board Age and Tenure

5.8yrs

Average Tenure

66yo

Average Age

Experienced Board: TDCB's board of directors are considered experienced (5.8 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Debby Harlow (67yo)

    CFO, Principal Accounting Officer CFO of Mutual Savings Bank and VP of Mutual Savings Bank

    • Tenure: 0yrs
  • David Coffey (56yo)

    President

    • Tenure: 1.8yrs
    • Compensation: US$164.59k
  • Chad Riddle

    SVP & COO

    • Tenure: 0yrs
  • Ryan Cook

    Senior VP & CFO

    • Tenure: 2.8yrs

Board Members

  • Robert Schafstall (75yo)

    Director

    • Tenure: 15.6yrs
    • Compensation: US$27.73k
  • Jeff Goben (66yo)

    Director

    • Tenure: 2yrs
  • Jerry Petro (73yo)

    Chairman of the Board

    • Tenure: 0.4yrs
    • Compensation: US$26.93k
  • Bob Heuchan (65yo)

    Vice Chairman of the Board

    • Tenure: 0yrs
    • Compensation: US$193.43k
  • Robert Ellett (81yo)

    Director Emeritus

    • Tenure: 0yrs
    • Compensation: US$30.23k
  • David Coffey (56yo)

    President

    • Tenure: 1.8yrs
    • Compensation: US$164.59k
  • Sterling Halton

    Director Emeritus

    • Tenure: 0yrs
  • Kyle Kasting (37yo)

    Director

    • Tenure: 5.8yrs

Company Information

Third Century Bancorp's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Third Century Bancorp
  • Ticker: TDCB
  • Exchange: OTCPK
  • Founded: 1890
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$14.046m
  • Shares outstanding: 1.18m
  • Website: https://www.mutualsavingsbank.net

Location

  • Third Century Bancorp
  • 80 East Jefferson Street
  • Franklin
  • Indiana
  • 46131
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TDCBOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDJun 2004

Biography

Third Century Bancorp operates as the bank holding company for Mutual Savings Bank that provides various banking products and services to individual and corporate customers in Indiana. The company offers c ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 23:51
End of Day Share Price2019/10/14 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.