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 reports operating and capital-return developments as the bank holding company for PCB Bank. News commonly covers quarterly and annual earnings, net interest income and margin trends, deposit and loan growth, provision for credit losses, allowance for credit losses, SBA loan sale gains, and noninterest expense discipline. Updates also include board actions on common-stock dividends and the company's stock repurchase program. The business is centered on consumer and commercial banking, including deposits, lending, digital banking tools, home loans, and services for small and middle-market businesses and individuals.
PCB Bancorp (NASDAQ: PCB) reported a Q2 2024 net income of $6.3 million or $0.43 per diluted share, up from $4.7 million or $0.33 per share in Q1 2024, but down from $7.5 million or $0.52 per share in Q2 2023.
Key metrics:
- Provision for credit losses: $259K, down from $1.1M in Q1 2024
- Net interest income: $21.7M, steady QoQ
- Total assets: $2.85B, a slight decline QoQ but up 11.6% YoY
- Loans held-for-investment: $2.45B, up 2.1% QoQ
- Total deposits: $2.41B, a minor increase QoQ
- Allowance for Credit Losses (ACL): 1.17%, stable YoY
The company paid an initial preferred stock dividend at an annualized rate of 2% (totaling $142K).
PCB Bancorp (NASDAQ: PCB), the holding company of PCB Bank, has declared a quarterly cash dividend of $0.18 per common share. The dividend will be paid on or about August 16, 2024, to shareholders of record as of the close of business on August 9, 2024. PCB Bank is a California state chartered bank offering commercial banking services to small to medium-sized businesses, individuals, and professionals, primarily in Southern California. The bank predominantly serves Korean-American and other minority communities.
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