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PB Financial Corporation reports company news as the holding company for Providence Bank, a state-chartered community bank serving markets in North Carolina. Updates commonly cover quarterly and annual earnings, loan and deposit growth, asset trends, and branch-market activity across communities including Rocky Mount, Tarboro, Nashville, Wilson, Raleigh, Jacksonville, Holly Ridge, Morehead City and Richlands.
Recurring releases also document board-approved cash dividends on PBNC common stock, including the company's pattern of quarterly dividend increases and occasional special distributions tied to financial results. News items frame PB Financial's operating performance through community-bank metrics such as net income available to common shareholders, gross loans, total deposits and total assets.
PB Financial (OTCQX:PBNC) reported a net income available to common shareholders of $4.11 million for Q2 2024, up 9.89% from $3.74 million in Q2 2023. For the first half of 2024, net income was $7.28 million, down 2.33% from $7.45 million in the prior year, impacted by merger-related expenses totaling $811,738. The company’s total assets rose 43.45% to $1.261 billion, with total deposits increasing 50.54% to $1.051 billion and gross loans growing 49.47% to $1.066 billion. Earnings per share for the first half of 2024 fell 16.87% to $2.76, while book value per share increased 17.17% to $37.19. A dividend of $0.54 per share will be paid on August 23, 2024. The company successfully completed its merger with Coastal Bank & Trust in April, enhancing its financial performance.
PB Financial (OTCQX:PBNC), the holding company for Providence Bank, has appointed Dr. Vanessa J. Ervin to their Board of Directors following their merger with Coastal Bank & Trust, where she was a founding member. Dr. Ervin brings extensive experience in healthcare management, having led Carobell, a private healthcare provider, since 1991. She holds multiple advanced degrees and has received several awards for her contributions to healthcare. PB Financial reported total assets of $1.016 billion, loans of $860.3 million, and deposits of $805.0 million as of March 31, 2024.
PB Financial , the holding company for Providence Bank, has declared a second-quarter dividend of $0.53 per share on common stock, marking a 17.78% increase from the previous year. This is the 50th consecutive quarterly cash dividend, demonstrating consistent financial performance.
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