Welcome to our dedicated page for Pcb Bancorp news (Ticker: PCB), a resource for investors and traders seeking the latest updates and insights on Pcb Bancorp stock.
PCB Bancorp (PCB) delivers essential banking solutions through its consumer/commercial services and community-focused approach. This news hub provides investors and stakeholders with timely updates on financial developments, strategic initiatives, and market positioning.
Access authoritative coverage of earnings announcements, regulatory filings, leadership changes, and product innovations. Our curated collection features press releases, SEC disclosures, and analysis of operational milestones relevant to PCB's commercial lending, digital banking tools, and niche market services.
Key updates include:
• Financial performance reports
• Mergers & acquisition activity
• Regulatory compliance developments
• Technology implementation progress
Bookmark this page for streamlined tracking of PCB's evolving strategies in community banking and small business financing. Verify facts directly through primary documents while gaining perspective on market trends impacting this financial institution.
PCB Bancorp (NASDAQ: PCB) announced net income of $10.3 million for Q1 2023, marking a 18.3% increase from the previous quarter. Diluted earnings per share rose to $0.70, up 20.7% from $0.58. Net interest income fell 7.6% to $22.4 million, while total assets grew by 3.3% to $2.50 billion. The allowance for credit losses stood at 1.18% of loans held-for-investment. PCB Bancorp adopted the CECL accounting standard, resulting in a cumulative effect adjustment of $2.7 million. Total deposits increased by 4.7% to $2.14 billion. The bank's strong capital position is highlighted by a common equity tier 1 capital ratio of 16.03%. PCB's management expressed confidence in their ability to weather economic uncertainties, viewing recent bank failures as opportunities for growth.
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