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 (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.
On December 14, 2021, the U.S. Department of Treasury informed PCB Bancorp that it is eligible for a capital investment up to $69,141,000 through the Emergency Capital Investment Program (ECIP). This investment aims to support community financial institutions, particularly those serving low- and moderate-income areas. PCB Bancorp has yet to decide on accepting this investment, which would require compliance with certain Treasury conditions and restrictions.
PCB Bancorp announced the appointment of Janice Chung to its Board of Directors, effective November 1, 2021. This appointment increases the Board's membership from eight to nine. Ms. Chung is currently the CEO of BIC Technologies Group, specializing in rare metal processing technology for global companies, particularly in South Korea and China. Her extensive background includes management consulting and international tax experience with PricewaterhouseCoopers. Chairman Sang Young Lee praised her entrepreneurial spirit and expertise in innovation-focused management.
PCB Bancorp (NASDAQ: PCB) reported a strong Q3 2021, with net income of $11.0 million ($0.73/share), up from $9.8 million ($0.64/share) in Q2 2021 and $3.4 million ($0.22/share) a year ago. The provision for loan losses was a reversal of $(1.1) million. Total assets increased by 2.2% to $2.10 billion, while total deposits rose to $1.83 billion, reflecting an 11.3% year-over-year increase. Net interest income was $20.2 million, with a net interest margin of 3.93%. A cash dividend of $0.12 per share was declared, marking the 27th consecutive quarterly dividend.
PCB Bancorp (NASDAQ: PCB) has declared a quarterly cash dividend of $0.12 per common share, set to be paid on November 19, 2021. This dividend is for shareholders of record as of November 12, 2021. PCB Bancorp, which operates Pacific City Bank, offers a wide range of commercial banking services mainly targeting small to medium-sized businesses and minority communities in Southern California.
PCB Bancorp has announced the extension of CEO Henry Kim's employment term from January 1, 2022, to December 31, 2026. This unanimous decision by the Board aims to provide stability and support the Company's objectives, benefiting shareholders and communities served. PCB Bancorp, the holding company for Pacific City Bank, offers a range of commercial banking services primarily in Southern California, focusing on small to medium-sized businesses and minority communities.
PCB Bancorp reported a strong Q2 2021 with a net income of $9.8 million ($0.64 per share), a 15% increase from Q1 2021 and a 192% increase year-over-year. The company reversed loan losses by $934,000 due to improving credit trends. Net interest income rose to $19 million, up 6.6% quarter-over-quarter, driven by a net interest margin of 3.83%. Total assets grew to $2.06 billion, with loans held for investment increasing by 2% since Q1. PCB also declared a quarterly cash dividend of $0.12, marking its 26th consecutive dividend payment.
PCB Bancorp (NASDAQ: PCB) declared a quarterly cash dividend of $0.12 per common share on July 22, 2021, increasing from $0.10. The dividend will be payable on or about August 13, 2021, to shareholders on record as of August 6, 2021. CEO Henry Kim emphasized the company’s commitment to shareholder value through these corporate decisions.
PCB Bancorp serves small to medium-sized businesses, individuals, and professionals, especially within the Korean-American and minority communities in Southern California.
PCB Bancorp (NASDAQ: PCB) reported a strong first quarter of 2021 with net income of $8.6 million ($0.55 per diluted share), up 47.9% from the previous quarter and 139.6% year-over-year. The company reversed loan loss provisions by $1.1 million, improving its allowance for loan losses ratio to 1.51%. Total assets grew to $2.05 billion, reflecting a 13.9% increase year-over-year. Deposits rose 18.7% to $1.75 billion. A stock repurchase program was launched, alongside a $0.10 dividend, marking the 25th consecutive quarterly payment.
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