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PBCO Financial Corporation - PBCO STOCK NEWS

Welcome to our dedicated news page for PBCO Financial Corporation (Ticker: PBCO), a resource for investors and traders seeking the latest updates and insights on PBCO Financial Corporation.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect PBCO Financial Corporation's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of PBCO Financial Corporation's position in the market.

News
PBCO Financial Corporation Reports Q1 2024 Earnings
Rhea-AI Summary
PBCO Financial reported a significant turnaround in Q1 2024 with a net income of $1.7 million and earnings per diluted share of $0.31, compared to a loss in the previous quarter. The company saw improvements in net interest margin, tangible book value per share, loan portfolio, and deposits. Despite challenges in the trucking industry, credit quality remained strong, and nonperforming assets decreased. The investment portfolio decreased, but the bank's strategic initiatives for deposit growth showed positive results. Non-interest income decreased, while non-interest expenses also decreased significantly. The Tier 1 Capital Ratio for the company and the bank slightly decreased, but tangible capital improved.
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PBCO Financial Corporation Reports Q4 and 2023 Earnings
Rhea-AI Summary
PBCO Financial Corporation reported a loss of $3.90 million and earnings per diluted share of -$0.73 for Q4 2023, compared to earnings of $1.56 million and $0.29 per diluted share for Q3 2023. For the full year, the Company posted net income of $0.99 million or $0.19 per diluted share compared to $9.86 million for 2022. The company made strategic business decisions including the closure of the residential lending division and the sale of $49.4 million of investment securities at a pre-tax loss of $6.8 million. Credit quality remained strong with non-performing assets slightly higher at 0.12% of total assets. Deposits decreased $12.2 million during the quarter, a 1.9% decline from Q3 2023. Non-interest income was $9.1 million, a decrease of $2.8 million from 2022. Non-interest expenses totaled $12.9 million in Q4, up $7.3 million from the previous quarter. The Tier 1 Capital Ratio for PBCO Financial Corporation was 11.54% with total shareholder equity of $77.6 million as of December 31, 2023.
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PBCO Financial Corporation Announces Securities Portfolio Repositioning
Rhea-AI Summary
PBCO Financial Corporation (PBCO) announced a repositioning strategy for its investment securities portfolio, resulting in an after-tax loss of approximately $5.1 million. The company sold $49.4 million in investment securities to rebalance the bank's balance sheet, aiming to enhance net interest income. The repositioning is expected to be neutral to tangible book value per share and is intended to improve the company's balance sheet position and earnings going forward.
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PBCO Exits Residential Mortgage Lending
Rhea-AI Summary
PBCO Financial Corporation has announced its decision to exit the residential mortgage lending market due to industry trends and the current interest rate environment. The company cites increased accessibility of residential mortgages online and the outlook for mortgage loan demand as factors in its decision. PBCO anticipates one-time termination expenses of $350 thousand.
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PBCO Financial Corporation Reports Q3 2023 Earnings
Rhea-AI Summary
PBCO Financial Corporation reported earnings of $1.56 million and earnings per diluted share of $0.29 for Q3 2023. Portfolio loans increased 7.7% YTD. Non-performing assets improved to 0.09% of total assets. Total non-interest expense declined 9.0% during the quarter. Loans increased $21.0 million, or 4.28%, compared to Q2 2023. Deposits decreased $8.6 million, a 1.3% decline. The investment portfolio decreased 8.8% to $200.9 million. Third quarter non-interest income totaled $2.2 million, a decrease of $118 thousand. Non-interest expenses totaled $5.6 million, down $548 thousand. Tier 1 Capital Ratio for PBCO Financial Corporation was 11.36% with total shareholder equity of $71.4 million.
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PBCO Financial Corporation Reports Q2 2023 Earnings
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PBCO Financial Corporation reported earnings of $1.65 million and earnings per diluted share of $0.31 for Q2 2023. Portfolio loans increased 3.2% year to date. Non-performing assets improved to 0.12% of total assets. Deposits decreased $23.0 million, a 3.4% decline. The investment portfolio decreased 6.1% to $220.4 million. Non-interest income increased $183 thousand. Non-interest expenses totaled $6.1 million. The Tier 1 Capital Ratio for PBCO Financial Corporation was 11.15% with total shareholder equity of $72.6 million. Julia Beattie appointed President and CEO.
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PBCO Financial Corporation Reports Q1 2023 Earnings
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People';s Bank Announces the Retirement of Ken Trautman, Chief Executive Officer and Co-Founder
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PBCO Financial Corporation Reports Q4 and 2022 Earnings
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PBCO Financial Corporation Reports Q3 2022 Earnings
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PBCO Financial Corporation

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PBCO Stock Data

6.93M
2.90M
1.84%
Commercial Banking
Finance and Insurance
Link
United States
Medford