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Territorial Bancorp Inc. PRESS RELEASE FOR IMMEDIATE RELEASE Contact : Walter Ida ( 808 ) 946-1400 • • • Territorial Bancorp Inc. Announces First Quarter 2021 Results Net income for the three months ended March 31 , 2021 was $ 5.01 million compared to $ 4.47 million for the three months ended March 31 , 2020 . Fully - diluted earnings per share for the three months ended March 31 , 2021 was $ 0.55 per share compared to $ 0.48 per share for the three months ended March 31 , 2020 . Return on average assets rose to 0.96 % for the three months ended March 31 , 2021 compared to 0.86 % for the three months ended March 31 , 2020 . Board of Directors approved a quarterly cash dividend of $ 0.23 per share , representing Territorial Bancorp Inc.'s 45th consecutive quarterly dividend . Honolulu , Hawaii , April 29 , 2021 - Territorial Bancorp Inc. ( NASDAQ : TBNK ) ( the “ Company ” ) , headquartered in Honolulu , Hawaii , the holding company parent of Territorial Savings Bank , announced net income of $ 5.01 million , or $ 0.55 per diluted share , for the three months ended March 31 , 2021 . The Company also announced that its Board of Directors approved a quarterly cash dividend of $ 0.23 per share . The dividend is expected to be paid on May 27 , 2021 to stockholders of record as of May 13 , 2021 . Allan Kitagawa , Chairman and Chief Executive Officer , said , “ 2020 was a very difficult year for many residents in the state because of COVID - 19 . In the first few months of 2021 , Hawaii's economy has started to improve as more visitors arrive in the state , businesses reopen and residents return to work . Our asset quality and capital remain strong despite the downturn and we continue to support our customers and community , as needed . " Interest Income Net interest income decreased to $ 13.21 million for the three months ended March 31 , 2021 from $ 14.52 million for the three months ended March 31 , 2020. Total interest income was $ 15.11 million for the three months ended March 31 , 2021 compared to $ 18.58 million for the three months ended March 31 , 2020. The $ 3.48 million decrease in total interest income was primarily due to a $ 2.41 million decrease in interest earned on loans and a $ 955,000 decrease in interest income on investment securities . The decline in interest income on loans was due to a 14 basis point decrease in the average yield on loans receivable and a $ 197.26 million decrease in the average loan balance . The decrease in the average yield on loans occurred because of the payoff of higher yielding loans and the addition of new lower yielding loans to the loan portfolio . The decrease in the average loan