MISSOULA, Mont., May 16, 2014 (GLOBE NEWSWIRE) -- Treasure State Bank ("the Bank") (OTCQB:TRSU), a Montana chartered community bank, today announced that its formal joint Consent Order dated December 28, 2009 between the FDIC and the Montana Division of Banking and Financial Institutions has been terminated effective May 13, 2014.
President and Chief Executive Officer Jim Salisbury stated, "I am very pleased to report that after approximately four and one half years this formal agreement with our government regulators has been lifted. The Bank has made substantial progress over these years improving its asset quality, earnings and capital. During this period of time the country and Montana have endured what many refer to as the 'greatest recession since the great depression.'
"The Bank is now in its eighth year of operation and we look forward to our continued service to our shareholders, customers and our Missoula market area. I want to take this opportunity to thank our very dedicated Board of Directors, our patient shareholders and especially our dedicated staff of very professional employees. Our employees have endured some very stressful times and we all anxiously look forward to the future."
For more information regarding this release, or the Bank in general, you may contact James A. Salisbury, President and CEO, at 406-543-8700.
About Treasure State Bank
Treasure State Bank, a Montana chartered community bank, is headquartered in Missoula, Montana. The Bank was founded in January 2007. Treasure State Bank currently trades on the OTCBB under the ticker symbol "TRSU". Treasure State Bank serves businesses, professionals, non-profit organizations and individuals through customized banking services and products. For more information, please visit www.treasurestatebank.com.
Safe Harbor Statement
This communication contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Treasure State Bank and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully, and the ability to complete before-mentioned transactions. The Bank undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.