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 (NASDAQ: PCB) is a California corporation and the bank holding company for PCB Bank, operating in the commercial banking segment of the finance and insurance sector. News about PCB Bancorp frequently centers on its financial performance, capital actions, and regulatory disclosures. The company issues regular earnings press releases that discuss net income available to common shareholders, net interest income, noninterest income, net interest margin, efficiency ratio, return on average assets, and return on average shareholders’ equity.
Investors following PCB Bancorp news will see detailed quarterly and annual earnings reports that describe trends in total assets, loans held-for-investment, total deposits, and credit quality metrics such as the allowance for credit losses on loans and provisions or reversals for credit losses. Releases also provide information on the composition of loans by interest rate type and the yields and costs associated with loans, investment securities, other interest-earning assets, and interest-bearing deposits.
Company news also includes announcements of quarterly cash dividends on common stock, with specified dividend amounts, record dates, and payment dates, as well as updates on the company’s stock repurchase program, including extensions of the program term and the number of shares repurchased and remaining authorized. PCB Bancorp has reported the use of a Rule 10b5-1 trading plan in connection with its repurchase program.
Regulatory and listing-related updates appear in the news flow as well, such as a notice from the Nasdaq Stock Market regarding a late Form 10-Q filing and the company’s plan to address the matter within Nasdaq’s framework. Operational developments, including the opening of a full-service branch in Suwanee, Georgia, are also highlighted in earnings releases. For readers interested in PCB stock, this news page provides a stream of company-issued information on performance, capital management, and operational updates.
PCB Bancorp announced an amendment to its stock repurchase program on
PCB Bancorp serves Southern California, offering commercial banking services primarily to Korean-American and minority communities.
PCB Bancorp has declared a quarterly cash dividend of $0.15 per common share on January 26, 2023. The dividend will be paid to shareholders of record as of February 10, 2023, with payment scheduled on or about February 17, 2023. PCB Bancorp, operating primarily in Southern California, offers commercial banking services to small and medium-sized businesses and minority communities, especially Korean-Americans.
PCB Bancorp (NASDAQ: PCB) reported net income of $7.0 million, or $0.46 per diluted share for Q3 2022, down from $9.1 million in Q2 2022 and $11.0 million in Q3 2021. The bank's net interest income rose to $24.0 million, a 12.5% increase quarter-over-quarter. The provision for loan losses was $3.8 million, compared to a reversal of $109,000 in the previous quarter. Total assets decreased slightly to $2.33 billion, while loans held-for-investment increased by 6.9%. PCB Bank opened two new branches and announced plans for future expansion.
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
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