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) announced the termination of the Consent Order by the Federal Deposit Insurance Corporation and California Department of Business Oversight on September 30, 2020. This decision follows the Bank's successful resolution of issues related to its Bank Secrecy Act and Anti-Money Laundering compliance program, initially noted in the April 30, 2019 order. CEO Henry Kim expressed gratitude to the team for their dedication in enhancing compliance programs.