# EDGAR Filing Document

**Accession Number:** 0001447051
**File Stem:** 0001104659-23-007007
**Filing Date:** 2023-1
**Character Count:** 10159
**Document Hash:** fd3aaf15243f8b4a93fdf721feba23b4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-007007.hdr.sgml**: 20230126

**ACCESSION NUMBER**: 0001104659-23-007007

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20230126

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230126

**DATE AS OF CHANGE**: 20230126

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Territorial Bancorp Inc.
- **CENTRAL INDEX KEY:** 0001447051
- **STANDARD INDUSTRIAL CLASSIFICATION:** SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
- **IRS NUMBER:** 264674701
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-34403
- **FILM NUMBER:** 23557678

**BUSINESS ADDRESS:**
- **STREET 1:** 1003 BISHOP STREET
- **STREET 2:** PAUAHI TOWER SUITE 500
- **CITY:** HONOLULU
- **STATE:** HI
- **ZIP:** 96813
- **BUSINESS PHONE:** 808-946-1400

**MAIL ADDRESS:**
- **STREET 1:** P.O. BOX 1481
- **CITY:** HONOLULU
- **STATE:** HI
- **ZIP:** 96806

?xml version="1.0" encoding="utf-8"?

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): <u>January 26, 2023</u>

<u>TERRITORIAL BANCORP INC.</u>

(Exact Name of Registrant as Specified in its Charter)

<u>Maryland</u> <u>1-34403</u> <u>26-4674701</u> <br> (State or Other Jurisdiction of Incorporation) (Commission File No.) (I.R.S. Employer Identification No.)

<u>1132 Bishop Street, Suite 2200, Honolulu, Hawaii</u> <u>96813</u> <br> (Address of Principal Executive Offices) (Zip Code)

Registrant's telephone number, including area code: <u>(808</u><u>) 946-1400</u>

<u>Not Applicable</u>

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **<u>Title of each class</u>** | **<u>Trading symbol</u>** | **<u>Name of each exchange on which registered</u>** |
| Common stock, par value $0.01 per share | TBNK | The NASDAQ Stock Market LLC |

---

---

| | |
|:---|:---|
| **Item 8.01** | **<u>Other Events</u>** |

---

On January 26, 2023, the Board of Directors of Territorial Bancorp Inc. announced a quarterly cash dividend of $0.23 per share payable on February 23, 2023 to shareholders of record as of February 9, 2023. A copy of the press release announcing the cash dividend is attached as Exhibit 99 to this report.

---

| | |
|:---|:---|
| **Item 9.01** | **<u>Financial Statements and Exhibits</u>** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Not Applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not Applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Not Applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits.

---

| | |
|:---|:---|
| Exhibit <br> No. | Exhibit |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[99.1](tm234343d2_ex99-1.htm) | [January 26, 2023 Press release: Territorial Bancorp Inc. Declares Dividend](tm234343d2_ex99-1.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104 | Cover Page Interactive Data File (embedded with the inline XBRL document) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **Territorial Bancorp Inc.** | **Territorial Bancorp Inc.** |
| DATE: January 26, 2023 | By: | /s/ Vernon Hirata |
|  | Vernon Hirata | Vernon Hirata |
|  | Vice Chairman, Co-Chief Operating Officer and Secretary | Vice Chairman, Co-Chief Operating Officer and Secretary |

---

## Exhibit 99.1

**Exhibit 99.1**

**PRESS RELEASE**

**<u>FOR IMMEDIATE RELEASE</u>**

---

| | |
|:---|:---|
| **Contact:** | **Walter Ida** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(808) 946-1400**

Territorial Bancorp Inc.

Declares Dividend

Honolulu, Hawaii, January 26, 2023 - Territorial Bancorp Inc. (NASDAQ: TBNK) (the "Company"), headquartered in Honolulu, Hawaii, the holding company parent of Territorial Savings Bank, announces that its Board of Directors approved a quarterly cash dividend of $0.23 per share. The dividend is expected to be paid on February 23, 2023 to stockholders of record as of February 9, 2023.

Allan Kitagawa, Chairman and Chief Executive Officer, said, "While 2022's, and likely 2023's, interest rate environment makes it challenging, we expect that our strong capital and solid asset quality will sustain us through this cycle. We have been through many different interest rate cycles over the years and believe that our capital and asset quality positions will continue to be important to our constituencies. For our shareholders, we are proud to have announced our twelfth repurchase program during the December quarter as well as paying a special dividend. We will continue to look for areas to enhance shareholder value, such as our recent corporate headquarters move to less expensive space, as we move forward."

**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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· statements of our goals, intentions and expectations;

· statements regarding our business plans, prospects, growth and
operating strategies;

· statements regarding the asset quality of our loan and investment
portfolios; 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The effect of any pandemic disease, including COVID-19, natural disaster, war, act of terrorism, accident or similar events;

· general economic conditions, either internationally, nationally 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;

· changes in monetary or fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Federal Reserve Board;

· our ability to enter new markets successfully and capitalize on growth opportunities;

· our ability to successfully integrate acquired entities, if any;

· changes in consumer demand, 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;

· the timing and amount of revenues that we may recognize;

· the value and marketability of collateral underlying our loan portfolios;

· our ability to retain key employees;

· cyberattacks, computer viruses and other technological risks that may breach the security of our websites or other systems to obtain unauthorized
access to confidential information, destroy data or disable our systems;

· technological change that may be more difficult or expensive than expected;

· the ability of third-party providers to perform their obligations to us;

· the ability of the U.S. Government to manage federal debt limits;

· the quality and composition of our investment portfolio;

· changes in market and other conditions that would affect our ability to repurchase our common stock; and

· changes in our financial condition or results of operations that reduce capital available to pay dividends.

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.