Pcb Bancorp Stock Price, News & Analysis

PCB Bancorp has declared a quarterly cash dividend of $0.15 per common share on October 27, 2022. This dividend is set to be paid on or about November 18, 2022, to shareholders holding shares as of the close of business on November 10, 2022. PCB Bancorp is the parent company of PCB Bank, which provides commercial banking services primarily to small to medium-sized businesses and individuals in Southern California, focusing on Korean-American and other minority communities.

PCB Bancorp announced a stock repurchase program on July 28, 2022, allowing the buyback of up to 5% of its outstanding common stock by February 1, 2023, commencing from August 2, 2022. The repurchase will utilize various methods, including open market transactions and block purchases, subject to market conditions. A Rule 10b5-1 trading plan will guide the repurchase, facilitating transactions even under insider trading restrictions. This initiative demonstrates PCB Bancorp's commitment to enhancing shareholder value.

PCB Bancorp (NASDAQ: PCB) announced a quarterly cash dividend of $0.15 per common share on July 28, 2022. The dividend will be distributed on or about August 19, 2022 to shareholders of record as of the close of business on August 12, 2022. PCB Bancorp operates Pacific City Bank, offering commercial banking services mainly to small to medium-sized businesses and minority communities in Southern California.

PCB Bancorp (NASDAQ: PCB) reported Q2 2022 net income of $9.1 million, or $0.60 per diluted share, down from $10.2 million in Q1 2022. Total assets rose to $2.34 billion, a 6.6% increase from Q1 2022. The bank reversed $109K in loan losses this quarter, a significant decline from the $1.2 million reversal in the previous quarter. Net interest income increased to $21.4 million with a net interest margin of 4.01%. Total deposits also grew by 4.6% to $2.00 billion. Effective August 25, 2022, Pacific City Bank will be rebranded as PCB Bank.

On May 24, 2022, PCB Bancorp received a $69.1 million capital investment from the U.S. Department of Treasury under the Emergency Capital Investment Program (ECIP). The investment was made through the issuance of 69,141 shares of Series C Preferred Stock, treated as tier 1 capital. The stock has no dividends for the first 24 months and will have an annual rate adjusted based on qualified lending thereafter. The Company can redeem the stock after five years with regulatory approval. PCB Bancorp focuses on serving small to medium-sized businesses, particularly in minority communities.

PCB Bancorp (NASDAQ: PCB) reported a net income of $10.2 million, or $0.67 per diluted share, for Q1 2022, a slight decrease from $10.7 million in Q4 2021 but an increase from $8.6 million in Q1 2021. Total assets rose to $2.20 billion, marking a 2.3% increase from the prior quarter and 7.3% year-over-year. The company saw an 8.1% annualized total loan growth and recorded net recoveries for the quarter. PCB plans to open three new branches, enhancing its growth trajectory in a challenging economic environment.

PCB Bancorp (NASDAQ: PCB) announced a quarterly cash dividend of $0.15 per common share on April 28, 2022. This dividend will be paid to shareholders of record as of May 13, 2022, with a payment date on or about May 20, 2022. PCB Bancorp operates Pacific City Bank, providing commercial banking services primarily in Southern California, focusing on small to medium-sized businesses and the Korean-American community.

PCB Bancorp (NASDAQ: PCB) reported a net income of $10.7 million, or $0.70 per diluted share, for Q4 2021, down 3.1% from Q3 2021 but significantly up from $5.8 million in Q4 2020. Full-year net income rose to $40.1 million, a remarkable 147.9% increase year-over-year. The company reversed $1.5 million in loan loss provisions, reflecting improved credit quality, with non-performing loans at a low 0.06%. Total assets grew 2.1% quarter-over-quarter, reaching $2.15 billion. The bank also maintained a strong deposit base with total deposits at $1.87 billion.

PCB Bancorp (NASDAQ: PCB) announced a quarterly cash dividend increase to $0.15 per common share from $0.12, set to be paid on or about February 18, 2022. Shareholders on record by February 11, 2022 will receive this dividend. President and CEO Henry Kim emphasized the company's commitment to shareholder benefits, reflecting confidence in their business strategy. PCB Bancorp primarily serves small to medium-sized businesses and minority communities in Southern California.