Pcb Bancorp Stock Price, News & Analysis

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.

PCB Bancorp (NASDAQ: PCB) announced a stock repurchase program on April 8, 2021, allowing for the buyback of up to 5% of its outstanding shares, equating to 775,000 shares. The repurchase will start following the release of unaudited Q1 2021 results, and purchases may occur through various methods, including open market transactions and block purchases. The plan may be altered or halted at the company’s discretion, with repurchases subject to market conditions. A 10b5-1 trading plan will also be implemented to facilitate these buybacks while adhering to insider trading regulations.

PCB Bancorp (NASDAQ: PCB) reported a net income of $5.8 million, or $0.38 per diluted share for Q4 2020, a notable increase from $3.4 million (Q3 2020) and $4.2 million (Q4 2019). Total assets decreased by 4.9% to $1.92 billion but increased 10.1% year-over-year. The company established a provision for loan losses of $2.1 million due to pandemic-related risks. The net interest margin improved to 3.64%. Although total deposits declined by 3.2% from Q3 2020, they rose 7.8% year-over-year, indicating resilience during economic challenges.

PCB Bancorp reported its third-quarter 2020 earnings with a net income of $3.4 million, maintaining earnings per share at $0.22, consistent with the previous quarter but down 47.6% year-over-year. The company established a provision for loan losses of $4.3 million, reflecting heightened economic uncertainty from the COVID-19 pandemic, increasing the allowance for loan losses to 1.70% of total loans, excluding PPP loans. Despite a stable net interest margin of 3.43%, total noninterest income fell by 22.1%. The bank terminated its FDIC consent order related to BSA/AML compliance.

PCB Bancorp (NASDAQ: PCB) announced a quarterly cash dividend of $0.10 per common share on October 22, 2020. The dividend payment date is set for November 13, 2020, to shareholders of record as of the close of business on November 4, 2020. PCB Bancorp serves as the holding company for Pacific City Bank, focusing on commercial banking services primarily for small to medium-sized businesses and individuals in Southern California, especially within Korean-American and other minority communities.