PBCO FINL CORP Stock Price, News & Analysis

PBCO Financial Corporation has completed a $25 million private placement of fixed-to-floating rate subordinated notes, maturing on March 15, 2032. The notes will initially carry a fixed rate of 3.875% until March 15, 2027, after which they will switch to a floating interest rate. The funds will be utilized for general corporate purposes, supporting organic growth and strategic initiatives. This offering is expected to enhance the company's regulatory capital ratios.

People's Bank of Commerce has appointed William (Bill) Whalen as the new executive vice president and chief credit officer. Whalen brings nearly 33 years of banking experience, including 30 years in Oregon. Previously, he served as senior vice president and chief credit officer at another community bank in the state. His expertise in commercial lending is expected to strengthen the bank's operations. Whalen is also involved in community service organizations, indicating a commitment to local engagement.

People's Bank of Commerce (OTC PINK: PBCO) reported strong financial results for the 4th quarter and year-ended 2021. The bank achieved a quarterly net income of $3.0 million ($0.59 per diluted share) and a year-to-date net income of $11.5 million ($2.44 per diluted share), marking an 87.1% increase from 2020. Non-PPP loan growth was 68.8% year-to-date. The bank's tax equivalent net interest margin was 3.46%. Deposits grew by $308 million in 2021, a 67.7% increase. However, non-interest income decreased by $351 thousand compared to Q4 2020.

People's Bank of Commerce (PBCO) reported a robust third quarter in 2021, with net income reaching $2,650,000 or $0.53 per diluted share, up from $1,937,000 in Q3 2020. Year-to-date income stands at $8,496,000, showing a remarkable 91.6% increase. The bank experienced a 14.5% growth in non-PPP loans, while deposits surged by $318.8 million, a 73.8% increase from the previous year. However, non-interest income decreased by $328,000, largely due to lower mortgage revenue.

The Board of Directors of People’s Bank of Commerce (OTC PINK: PBCO) announced a 5% stock dividend for shareholders of record as of August 25, 2021, with payment expected on or about September 22, 2021. This decision reflects the bank's appreciation for shareholder support and acknowledges the strong financial results achieved during the second quarter and year-to-date. Shareholders will receive cash for any fractional shares, as no fractional shares will be issued.

People's Bank of Commerce (OTC PINK: PBCO) reported a strong financial performance for Q2 2021, achieving a net income of $2,953,000 or $0.61 per diluted share, a 56.4% increase year-over-year. Year-to-date net income rose to $5,846,000, marking a 57.3% increase. The bank's non-PPP loan growth was $10.6 million, with a tax-equivalent net interest margin of 3.68%. The acquisition of Willamette Community Bank significantly contributed to earnings, while the Steelhead Finance division saw a 96.4% increase in factoring revenue.

People's Bank of Commerce (OTCPK: PBCO) announced the results of its annual shareholder meeting on May 19, 2021. Shareholders elected all proposed directors and approved a Plan of Reorganization and Merger to establish the bank as a wholly owned subsidiary of PBCO Financial Corporation, requiring a two-thirds majority vote. The amendment to eliminate staggered board terms was also passed, leading to annual elections starting in 2022. Additionally, authorized common shares increased from 6 million to 10 million, enhancing the bank’s capital flexibility. Moss Adams, LLP was ratified as the independent auditor for the fiscal year ending December 31, 2021.

People’s Bank of Commerce (PBCO) reported a Q1 2021 net income of $2,892,000 or $0.73 per diluted share, significantly up from $1,111,000 or $0.33 per diluted share in Q1 2020. The results reflect a 59% increase in earnings per share over the trailing 12 months, and total assets reached $808 million, up 116% year-over-year. The merger with Willamette Community Bank contributed $221.6 million in assets. Non-interest income surged 184.2%, driven by gains in mortgage lending and a one-time bargain purchase gain of $2,343,000. However, one-time merger expenses totaled $2.9 million.

People's Bank of Commerce (OTCBB: PBCO) has successfully completed its merger with Willamette Community Bank, effective March 1, 2021. This strategic move enhances People's Bank's presence in the Willamette Valley, expanding its assets to approximately $742 million and adding nine branch locations across Southern Oregon and Willamette Valley markets. CEO Ken Trautman expressed optimism about serving the new customers while maintaining quality banking services. The acquisition is projected to strengthen the bank's competitive position in the region.