PCB Bancorp Reports Record Earnings for Q3 2026

Deposit growth accompanied a quarterly contraction in loans, while higher net interest income and a credit-loss reversal supported earnings.

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LOS ANGELES--(BUSINESS WIRE)-- PCB Bancorp (the “Company”) (NASDAQ: PCB), the holding company of PCB Bank (the “Bank”), today reported net income available to common shareholders of $12.1 million, or $0.85 per diluted common share, for the third quarter of 2026, compared with $10.4 million, or $0.73 per diluted common share, for the previous quarter and $11.3 million, or $0.78 per diluted common share, for the year-ago quarter.

Q3 2026 Highlights

• Net income available to common shareholders totaled $12.1 million, or $0.85 per diluted common share, for the current quarter;
• Provision (reversal) for credit losses was $(705) thousand for the current quarter compared with $926 thousand for the previous quarter and $(381) thousand for the year-ago quarter;
• Allowance for Credit Losses (“ACL”) on loans to loans held-for-investment ratio was 1.20% at September 30, 2026 compared with 1.18% at June 30, 2026, and 1.20% at September 30, 2025;
• Net interest income was $28.8 million for the current quarter compared with $27.5 million for the previous quarter and $27.0 million for the year-ago quarter. Net interest margin was 3.35% for the current quarter compared with 3.33% for the previous quarter and 3.28% for the year-ago quarter;
• Gain on sale of loans was $1.6 million for the current quarter compared with $1.2 million for the previous quarter and $1.6 million for the year-ago quarter;
• Total assets were $3.54 billion at September 30, 2026, an increase of $67.5 million, or 1.9%, from $3.47 billion at June 30, 2026, an increase of $255.9 million, or 7.8%, from $3.28 billion at December 31, 2025, and an increase of $174.2 million, or 5.2%, from $3.36 billion at September 30, 2025;
• Loans held-for-investment were $2.84 billion at September 30, 2026, a decrease of $87.2 million, or 3.0%, from $2.93 billion at June 30, 2026, but an increase of $24.5 million, or 0.9%, from $2.82 billion at December 31, 2025 and an increase of $92.3 million, or 3.4%, from $2.75 billion at September 30, 2025; and
• Total deposits were $3.08 billion at September 30, 2026, an increase of $153.9 million, or 5.3%, from $2.92 billion at June 30, 2026, an increase of $281.2 million, or 10.1%, from $2.80 billion at December 31, 2025, and an increase of $163.1 million, or 5.6%, from $2.91 billion at September 30, 2025.

Henry Kim, President and CEO, commented, “We delivered another quarter of strong financial performance despite a competitive operating environment and continued interest rate volatility. Our results reflect disciplined execution across the organization, highlighted by record earnings, solid core deposit growth, and an improvement in net interest margin.

“During the quarter, we remained focused on prudent balance sheet management and long-term risk-adjusted returns. As part of that strategy, we selectively reduced certain large commercial lending relationships that no longer met our risk and return objectives. While these actions contributed to lower loan balances, they strengthened our liquidity position and reinforced the overall quality of our balance sheet.

“Our strong retail deposit growth, solid capital position, and disciplined credit culture continue to provide a foundation for sustainable growth. As we look ahead to the remainder of 2026 and into 2027, we believe we are well positioned to deploy our excess liquidity, capitalize on attractive growth opportunities, and continue delivering long-term value for our shareholders.”

Financial Highlights (Unaudited)

($ in thousands, except per share data)		Three Months Ended																		Nine Months Ended
		9/30/2026				6/30/2026				% Change			9/30/2025				% Change			9/30/2026				9/30/2025				% Change
Net income		$	12,208			$	10,507			16.2	%		$	11,412			7.0	%		$	33,368			$	28,218			18.3	%
Net income available to common shareholders		$	12,122			$	10,420			16.3	%		$	11,326			7.0	%		$	33,109			$	28,005			18.2	%
Diluted earnings per common share (“EPS”)		$	0.85			$	0.73			16.4	%		$	0.78			9.0	%		$	2.32			$	1.94			19.6	%
Net interest income		$	28,819			$	27,494			4.8	%		$	26,978			6.8	%		$	83,123			$	77,251			7.6	%
Provision (reversal) for credit losses			(705	)			926			NM				(381	)		85.0	%			688				3,004			(77.1	)%
Noninterest income			3,573				3,203			11.6	%			3,414			4.7	%			10,150				9,291			9.2	%
Noninterest expense			16,052				15,113			6.2	%			14,869			8.0	%			45,979				44,172			4.1	%
Return on average assets (“ROAA”) (1)			1.38	%			1.24	%						1.35	%						1.31	%			1.17	%
Return on average shareholders’ equity (“ROAE”) (1)			12.03	%			10.55	%						11.92	%						11.18	%			10.10	%
Return on average tangible common equity (“ROATCE”) (1),(2)			14.42	%			12.65	%						14.46	%						13.42	%			12.30	%
Net interest margin (1)			3.35	%			3.33	%						3.28	%						3.35	%			3.29	%
Efficiency ratio (3)			49.56	%			49.23	%						48.92	%						49.30	%			51.04	%

($ in thousands, except per share data)		9/30/2026				6/30/2026				% Change			12/31/2025				% Change			9/30/2025				% Change
Total assets		$	3,537,672			$	3,470,124			1.9	%		$	3,281,771			7.8	%		$	3,363,506			5.2	%
Net loans held-for-investment			2,810,769				2,897,281			(3.0	)%			2,787,019			0.9	%			2,719,554			3.4	%
Total deposits			3,076,593				2,922,659			5.3	%			2,795,412			10.1	%			2,913,502			5.6	%
Book value per common share (4)		$	28.61			$	28.40						$	27.41						$	26.93
TCE per common share (2)		$	23.69			$	23.49						$	22.55						$	22.09
Tier 1 leverage ratio (consolidated)			11.77	%			11.89	%						11.89	%						11.57	%
Total shareholders’ equity to total assets			11.37	%			11.54	%						11.88	%						11.43	%
TCE to total assets (2), (5)			9.41	%			9.55	%						9.78	%						9.38	%

(1)	Ratios are presented on an annualized basis.
(2)	Non-GAAP. See “Non-GAAP Financial Measures” for a reconciliation of this measure to its most comparable GAAP measure.
(3)	Calculated by dividing noninterest expense by the sum of net interest income and noninterest income.
(4)	Calculated by dividing total shareholders’ equity by the number of outstanding common shares.
(5)	The Company had no intangible asset component for the presented periods.

Results of Operations (Unaudited)

Net Interest Income and Net Interest Margin

The following table presents the components of net interest income for the periods indicated:

		Three Months Ended																		Nine Months Ended
($ in thousands)		9/30/2026				6/30/2026				% Change			9/30/2025				% Change			9/30/2026				9/30/2025				% Change
Interest income/expense on
Loans		$	47,154			$	45,886			2.8	%		$	46,193			2.1	%		$	137,524			$	134,697			2.1	%
Investment securities			2,073				1,795			15.5	%			1,474			40.6	%			5,442				4,344			25.3	%
Other interest-earning assets			3,255				2,359			38.0	%			3,804			(14.4	)%			8,387				8,630			(2.8	)%
Total interest-earning assets			52,482				50,040			4.9	%			51,471			2.0	%			151,353				147,671			2.5	%
Interest-bearing deposits			23,242				21,795			6.6	%			23,995			(3.1	)%			66,515				69,064			(3.7	)%
Borrowings			421				751			(43.9	)%			498			(15.5	)%			1,715				1,356			26.5	%
Total interest-bearing liabilities			23,663				22,546			5.0	%			24,493			(3.4	)%			68,230				70,420			(3.1	)%
Net interest income		$	28,819			$	27,494			4.8	%		$	26,978			6.8	%		$	83,123			$	77,251			7.6	%
Average balance of
Loans		$	2,902,481			$	2,885,996			0.6	%		$	2,784,148			4.3	%		$	2,876,614			$	2,738,957			5.0	%
Investment securities			195,312				178,716			9.3	%			152,084			28.4	%			178,402				149,914			19.0	%
Other interest-earning assets			311,417				249,717			24.7	%			327,637			(5.0	)%			266,040				246,396			8.0	%
Total interest-earning assets		$	3,409,210			$	3,314,429			2.9	%		$	3,263,869			4.5	%		$	3,321,056			$	3,135,267			5.9	%
Interest-bearing deposits		$	2,445,630			$	2,326,163			5.1	%		$	2,326,170			5.1	%		$	2,350,909			$	2,218,542			6.0	%
Borrowings			42,000				76,374			(45.0	)%			43,109			(2.6	)%			58,073				39,586			46.7	%
Total interest-bearing liabilities		$	2,487,630			$	2,402,537			3.5	%		$	2,369,279			5.0	%		$	2,408,982			$	2,258,128			6.7	%
Total funding (1)		$	3,041,978			$	2,946,585			3.2	%		$	2,910,522			4.5	%		$	2,953,418			$	2,788,686			5.9	%
Annualized average yield/cost of
Loans			6.45	%			6.38	%						6.58	%						6.39	%			6.58	%
Investment securities			4.21	%			4.03	%						3.85	%						4.08	%			3.87	%
Other interest-earning assets			4.15	%			3.79	%						4.61	%						4.21	%			4.68	%
Total interest-earning assets			6.11	%			6.06	%						6.26	%						6.09	%			6.30	%
Interest-bearing deposits			3.77	%			3.76	%						4.09	%						3.78	%			4.16	%
Borrowings			3.98	%			3.94	%						4.58	%						3.95	%			4.58	%
Total interest-bearing liabilities			3.77	%			3.76	%						4.10	%						3.79	%			4.17	%
Net interest margin			3.35	%			3.33	%						3.28	%						3.35	%			3.29	%
Cost of total funding (1)			3.09	%			3.07	%						3.34	%						3.09	%			3.38	%
Supplementary information
Net accretion of discount on loans		$	759			$	584			30.0	%		$	563			34.8	%		$	1,860			$	2,045			(9.0	)%
Net amortization of deferred loan fees		$	579			$	357			62.2	%		$	433			33.7	%		$	1,289			$	1,113			15.8	%

(1)	Total funding is the sum of interest-bearing liabilities and noninterest-bearing deposits. The cost of total funding is calculated as annualized total interest expense divided by average total funding.

The increase in net interest margin for the current quarter compared with the previous quarter was primarily due to an increase in average yield on interest earning assets, partially offset by an increase in average cost of interest-bearing deposits. The increases for the current quarter and year-to-date period compared with the same periods of 2025 were primarily due to a decrease in average cost of interest-bearing deposits, partially offset by a decrease in average yield on interest earning assets.

Loans. The increase in average yield for the current quarter compared with the previous quarter was primarily due to increases in weighted-average interest rates on loans, net accretion of discount on loans and net amortization of deferred loan fees. The decrease for the current quarter compared with the year-ago quarter was primarily due to a decrease in weighted-average interest rates on loans, partially offset by increases in net accretion of discount on loans and net amortization of deferred loan fees. The decrease for the current year-to-date period compared with the previous year-to-date period was primarily due to decreases in weighted-average interest rates on loans and net accretion of discount on loans, partially offset by an increase in net amortization of deferred loan fees.

The following table presents a composition of total loans by interest rate type accompanied by the weighted-average contractual rates as of the dates indicated:

		9/30/2026						6/30/2026						12/31/2025						9/30/2025
		% to Total Loans			Weighted- Average Contractual Rate			% to Total Loans			Weighted- Average Contractual Rate			% to Total Loans			Weighted- Average Contractual Rate			% to Total Loans			Weighted- Average Contractual Rate
Fixed rate loans		18.9	%		5.82	%		18.0	%		5.76	%		17.5	%		5.60	%		18.2	%		5.60	%
Hybrid rate loans		39.3	%		5.84	%		39.9	%		5.67	%		39.7	%		5.57	%		39.5	%		5.51	%
Variable rate loans		41.8	%		7.00	%		42.1	%		6.82	%		42.8	%		6.93	%		42.3	%		7.38	%

Investment Securities. The increases in average yield for the current quarter and year-to-date period were primarily due to higher yields on newly purchased investment securities.

Other Interest-Earning Assets. The increase in average yield for the current quarter compared with the previous quarter was primarily due to a special dividend on Federal Home Loan Bank (“FHLB”) stock of $253 thousand. The decreases for the current quarter and year-to-date period compared with the same periods of 2025 were primarily due to a decrease in average interest rate on cash held at the Federal Reserve Bank, partially offset by an increase in dividends received on FHLB stock.

Interest-Bearing Deposits. The decreases in average cost for the current quarter and year-to-date period compared with the same periods of 2025 were primarily due to decreases in market rates.

Provision (reversal) for credit losses

The following table presents a composition of provision for credit losses for the periods indicated:

		Three Months Ended																	Nine Months Ended
($ in thousands)		9/30/2026				6/30/2026			% Change			9/30/2025				% Change			9/30/2026				9/30/2025			% Change
Provision (reversal) for credit losses on loans		$	(651	)		$	798		NM			$	(428	)		52.1	%		$	765			$	2,884		(73.5	)%
Provision (reversal) for credit losses on off-balance sheet credit exposure			(54	)			128		NM				47			NM				(77	)			120		NM
Total provision (reversal) for credit losses		$	(705	)		$	926		NM			$	(381	)		85.0	%		$	688			$	3,004		(77.1	)%

The reversal for credit losses on loans for the current quarter was primarily due to a decrease in loans held-for-investment, partially offset by an increase in nonaccrual loans held-for-investment.

Noninterest Income

The following table presents the components of noninterest income for the periods indicated:

		Three Months Ended																	Nine Months Ended
($ in thousands)		9/30/2026				6/30/2026			% Change			9/30/2025				% Change			9/30/2026				9/30/2025			% Change
Gain on sale of loans		$	1,626			$	1,182		37.6	%		$	1,617			0.6	%		$	4,217			$	3,969		6.2	%
Service charges and fees on deposits			457				450		1.6	%			377			21.2	%			1,337				1,124		19.0	%
Loan servicing income			650				802		(19.0	)%			719			(9.6	)%			2,253				2,204		2.2	%
Bank-owned life insurance (“BOLI”) income			287				281		2.1	%			259			10.8	%			842				759		10.9	%
Other income			553				488		13.3	%			442			25.1	%			1,501				1,235		21.5	%
Total noninterest income		$	3,573			$	3,203		11.6	%		$	3,414			4.7	%		$	10,150			$	9,291		9.2	%

Gain on Sale of Loans. The following table presents information on gain (loss) on sale of loans for the periods indicated:

		Three Months Ended																		Nine Months Ended
($ in thousands)		9/30/2026				6/30/2026				% Change			9/30/2025				% Change			9/30/2026				9/30/2025				% Change
Gain on sale of SBA loans
Sold loan balance		$	23,044			$	17,095			34.8	%		$	29,017			(20.6	)%		$	61,969			$	72,569			(14.6	)%
Premium received			1,798				1,430			25.7	%			1,852			(2.9	)%			4,809				4,810			—	%
Gain recognized			1,626				1,219			33.4	%			1,617			0.6	%			4,254				3,969			7.2	%
Percentage to sold loan balance
Premium			7.8	%			8.4	%						6.4	%						7.8	%			6.6	%
Gain			7.1	%			7.1	%						5.6	%						6.9	%			5.5	%
Loss on sale of other loans
Sold loan balance		$	—			$	1,071			(100.0	)%		$	—			—	%		$	1,071			$	—			NA
Loss recognized			—				(37	)		(100.0	)%			—			—	%			(37	)			—			NA

The other loan sold during the previous quarter of $1.1 million was a commercial property loan, which was transferred to loans held-for-sale from loans held-for-investment during the first quarter of 2026.

Loan Servicing Income. The Company services SBA loans and certain residential property loans sold to the secondary market. The following table presents information on loan servicing income for the periods indicated:

		Three Months Ended																		Nine Months Ended
($ in thousands)		9/30/2026				6/30/2026				% Change			9/30/2025				% Change			9/30/2026				9/30/2025				% Change
Loan servicing income
Servicing income received		$	1,215			$	1,243			(2.3	)%		$	1,247			(2.6	)%		$	3,676			$	3,771			(2.5	)%
Servicing assets amortization			(565	)			(441	)		28.1	%			(528	)		7.0	%			(1,423	)			(1,567	)		(9.2	)%
Loan servicing income		$	650			$	802			(19.0	)%		$	719			(9.6	)%		$	2,253			$	2,204			2.2	%
Underlying loans at end of period		$	497,197			$	503,429			(1.2	)%		$	518,309			(4.1	)%		$	497,197			$	518,309			(4.1	)%

Noninterest Expense

The following table presents the components of noninterest expense for the periods indicated:

		Three Months Ended															Nine Months Ended
($ in thousands)		9/30/2026			6/30/2026			% Change			9/30/2025			% Change			9/30/2026			9/30/2025			% Change
Salaries and employee benefits		$	10,026		$	9,551		5.0	%		$	9,293		7.9	%		$	29,297		$	27,212		7.7	%
Occupancy and equipment			2,283			2,369		(3.6	)%			2,372		(3.8	)%			6,929			7,040		(1.6	)%
Professional fees			834			645		29.3	%			541		54.2	%			2,013			1,974		2.0	%
Marketing and business promotion			636			446		42.6	%			669		(4.9	)%			1,538			1,509		1.9	%
Data processing			359			342		5.0	%			333		7.8	%			1,038			983		5.6	%
Director fees and expenses			224			223		0.4	%			223		0.4	%			670			674		(0.6	)%
Regulatory assessments			386			368		4.9	%			373		3.5	%			1,115			1,075		3.7	%
Other expense			1,304			1,169		11.5	%			1,065		22.4	%			3,379			3,705		(8.8	)%
Total noninterest expense		$	16,052		$	15,113		6.2	%		$	14,869		8.0	%		$	45,979		$	44,172		4.1	%

Salaries and Employee Benefits. The increase for the current quarter compared with the previous quarter was primarily due to increases in wages, incentives tied to sales of SBA loans, vacation accrual and group insurance. The increases for the current quarter and year-to-date period compared with the same periods of 2025 were primarily due to increases in wages, incentives tied to sales of SBA loans, vacation accrual and group insurance, partially offset by an increase in direct loan origination cost, which offsets and defers the recognition of salaries and benefits expense. The number of full-time equivalent employees was 276, 274 and 270 as of September 30, 2026, June 30, 2026 and September 30, 2025, respectively.

Professional Fees. The increases for the current quarter compared with the previous and year-ago quarters were due to increases in legal fees and internal audit fees. The increase for the current year-to-date period compared with the previous year-to-date period was primarily due to the increases in legal fees and internal audit during the current year-to-date period, partially offset by additional professional fees incurred related to evaluating the accounting for a preferred stock purchase option during the previous year-to-date period.

Marketing and Business Promotion. The increase for the current quarter compared with the previous quarter was primarily due to an increase in advertising.

Other Expense. The increases for the current quarter compared with the previous and year-ago quarter were primarily due to an increase in legal settlements related expenses, partially offset by a decrease in office operating expense. The decrease for the current year-to-date period compared with the previous year-to-date period was primarily due to impairments on operating lease assets of $238 thousand for sublease contracts and a decrease in office operating expense, partially offset by an increase in legal settlement related expenses.

Balance Sheet (Unaudited)

Total assets were $3.54 billion at September 30, 2026, an increase of $67.5 million, or 1.9%, from $3.47 billion at June 30, 2026, an increase of $255.9 million, or 7.8%, from $3.28 billion at December 31, 2025, and an increase of $174.2 million, or 5.2%, from $3.36 billion at September 30, 2025. The increase for the current quarter was primarily due to an increase in total cash and cash equivalents, partially offset by a decrease in loans held-for-investment. The increase for the current year was primarily due to increases in total cash and cash equivalents, loans held-for-investment and other assets. During the current year, the Company invested $8.0 million in qualified affordable housing projects.

Loans

The following table presents a composition of total loans (includes both loans held-for-sale and loans held-for-investment) as of the dates indicated:

($ in thousands)		9/30/2026				6/30/2026				% Change			12/31/2025				% Change			9/30/2025				% Change
Commercial real estate:
Commercial property		$	1,100,476			$	1,120,171			(1.8	)%		$	1,071,396			2.7	%		$	1,039,965			5.8	%
Business property			650,596				697,627			(6.7	)%			638,063			2.0	%			639,596			1.7	%
Multifamily			213,592				208,797			2.3	%			175,579			21.7	%			172,098			24.1	%
Construction			11,142				11,121			0.2	%			18,561			(40.0	)%			25,911			(57.0	)%
Total commercial real estate			1,975,806				2,037,716			(3.0	)%			1,903,599			3.8	%			1,877,570			5.2	%
Commercial and industrial			449,325				494,944			(9.2	)%			508,662			(11.7	)%			465,424			(3.5	)%
Consumer:
Residential mortgage			414,487				393,414			5.4	%			401,337			3.3	%			401,653			3.2	%
Other consumer			5,238				5,945			(11.9	)%			6,802			(23.0	)%			7,867			(33.4	)%
Total consumer			419,725				399,359			5.1	%			408,139			2.8	%			409,520			2.5	%
Loans held-for-investment			2,844,856				2,932,019			(3.0	)%			2,820,400			0.9	%			2,752,514			3.4	%
Loans held-for-sale			2,318				2,937			(21.1	)%			12,077			(80.8	)%			9,634			(75.9	)%
Total loans		$	2,847,174			$	2,934,956			(3.0	)%		$	2,832,477			0.5	%		$	2,762,148			3.1	%
SBA loans included in:
Loans held-for-investment		$	148,641			$	145,457			2.2	%		$	146,549			1.4	%		$	151,766			(2.1	)%
Loans held-for-sale		$	2,318			$	2,937			(21.1	)%		$	12,077			(80.8	)%		$	9,634			(75.9	)%
ACL on loans		$	34,087			$	34,738			(1.9	)%		$	33,381			2.1	%		$	32,960			3.4	%
ACL on loans to loans held-for-investment			1.20	%			1.18	%						1.18	%						1.20	%

The decrease in loans held-for-investment for the current quarter was primarily due to pay-downs and pay-offs of term loans of $175.2 million, net decrease of lines of credit of $37.6 million, and charge-offs of $35 thousand, partially offset by new funding of term loans of $125.6 million. The increase for the current year-to-date period was primarily due to new funding of term loans of $416.5 million, partially offset by pay-downs and pay-offs of term loans of $329.6 million, net decrease of lines of credit of $61.2 million, a loan transferred to loans held-for-sale of $1.1 million, and charge-offs of $130 thousand.

The decrease in loans held-for-sale for the current quarter was primarily due to sales of $23.0 million and pay-downs of $52 thousand, partially offset by new funding of $22.5 million. The decrease for the current year-to-date period was primarily due to sales of $63.0 million and pay-downs of $310 thousand, partially offset by new funding of $52.5 million and a loan transferred from loans held-for-investment of $1.1 million.

The following table presents a composition of off-balance sheet credit exposure as of the dates indicated:

($ in thousands)		9/30/2026			6/30/2026			% Change			12/31/2025			% Change			9/30/2025			% Change
Commercial property		$	12,270		$	10,069		21.9	%		$	11,344		8.2	%		$	13,772		(10.9	)%
Business property			7,425			8,297		(10.5	)%			7,569		(1.9	)%			10,740		(30.9	)%
Construction			3,011			3,022		(0.4	)%			5,229		(42.4	)%			7,688		(60.8	)%
Commercial and industrial			374,639			335,523		11.7	%			342,593		9.4	%			373,560		0.3	%
Other consumer			1,535			1,536		(0.1	)%			1,347		14.0	%			1,357		13.1	%
Total commitments to extend credit			398,880			358,447		11.3	%			368,082		8.4	%			407,117		(2.0	)%
Letters of credit			15,733			7,984		97.1	%			7,330		114.6	%			7,074		122.4	%
Total off-balance sheet credit exposure		$	414,613		$	366,431		13.1	%		$	375,412		10.4	%		$	414,191		0.1	%

Credit Quality

The following table presents a summary of non-performing loans and assets, and classified assets as of the dates indicated:

($ in thousands)		9/30/2026				6/30/2026				% Change			12/31/2025				% Change			9/30/2025				% Change
Nonaccrual loans
Commercial real estate:
Commercial property		$	4,642			$	1,331			248.8	%		$	1,403			230.9	%		$	1,448			220.6	%
Business property			1,598				1,330			20.2	%			938			70.4	%			962			66.1	%
Total commercial real estate			6,240				2,661			134.5	%			2,341			166.6	%			2,410			158.9	%
Commercial and industrial			652				607			7.4	%			161			305.0	%			378			72.5	%
Consumer:
Residential mortgage			5,355				5,446			(1.7	)%			5,403			(0.9	)%			5,370			(0.3	)%
Other consumer			3				6			(50.0	)%			5			(40.0	)%			—			NM
Total consumer			5,358				5,452			(1.7	)%			5,408			(0.9	)%			5,370			(0.2	)%
Total nonaccrual loans held-for-investment			12,250				8,720			40.5	%			7,910			54.9	%			8,158			50.2	%
Loans past due 90 days or more and still accruing			—				—			—	%			—			—	%			—			—	%
Non-performing loans (“NPLs”)			12,250				8,720			40.5	%			7,910			54.9	%			8,158			50.2	%
NPLs held-for-sale			—				—			—	%			—			—	%			—			—	%
Total NPLs			12,250				8,720			40.5	%			7,910			54.9	%			8,158			50.2	%
Other real estate owned (“OREO”)			—				—			—	%			—			—	%			—			—	%
Non-performing assets (“NPAs”)		$	12,250			$	8,720			40.5	%		$	7,910			54.9	%		$	8,158			50.2	%
Loans past due and still accruing
Past due 30 to 59 days		$	604			$	339			78.2	%		$	943			(35.9	)%		$	1,548			(61.0	)%
Past due 60 to 89 days			48				55			(12.7	)%			12			300.0	%			—			NM
Past due 90 days or more			—				—			—	%			—			—	%			—			—	%
Total loans past due and still accruing		$	652			$	394			65.5	%			955			(31.7	)%		$	1,548			(57.9	)%
Special mention loans		$	6,368			$	6,412			(0.7	)%		$	6,435			(1.0	)%		$	6,477			(1.7	)%
Classified assets
Classified loans held-for-investment		$	13,633			$	10,525			29.5	%		$	9,159			48.8	%		$	10,172			34.0	%
Classified loans held-for-sale			—				—			—	%			—			—	%			—			—	%
OREO			—				—			—	%			—			—	%			—			—	%
Classified assets		$	13,633			$	10,525			29.5	%		$	9,159			48.8	%		$	10,172			34.0	%
NPLs to loans held-for-investment			0.43	%			0.30	%						0.28	%						0.30	%
NPAs to total assets			0.35	%			0.25	%						0.24	%						0.24	%
Classified assets to total assets			0.39	%			0.30	%						0.28	%						0.30	%

Allowance for Credit Losses

The following table presents activity in ACL for the periods indicated:

		Three Months Ended																		Nine Months Ended
($ in thousands)		9/30/2026				6/30/2026				% Change			9/30/2025				% Change			9/30/2026				9/30/2025				% Change
ACL on loans
Balance at beginning of period		$	34,738			$	33,943			2.3	%		$	33,554			3.5	%		$	33,381			$	30,628			9.0	%
Charge-offs			(35	)			(19	)		84.2	%			(454	)		(92.3	)%			(130	)			(927	)		(86.0	)%
Recoveries			35				16			118.8	%			288			(87.8	)%			71				375			(81.1	)%
Provision (reversal) for credit losses on loans			(651	)			798			NM				(428	)		52.1	%			765				2,884			(73.5	)%
Balance at end of period		$	34,087			$	34,738			(1.9	)%		$	32,960			3.4	%		$	34,087			$	32,960			3.4	%
ACL on off-balance sheet credit exposure
Balance at beginning of period		$	1,520			$	1,392			9.2	%		$	1,263			20.3	%		$	1,543			$	1,190			29.7	%
Provision (reversal) for credit losses on off-balance sheet credit exposure			(54	)			128			NM				47			NM				(77	)			120			NM
Balance at end of period		$	1,466			$	1,520			(3.6	)%		$	1,310			11.9	%		$	1,466			$	1,310			11.9	%

Investment Securities

Total investment securities were $190.2 million at September 30, 2026, an increase of $5.9 million, or 3.2%, from $184.3 million at June 30, 2026, an increase of $30.2 million, or 18.9%, from $160.0 million at December 31, 2025, and an increase of $39.9 million, or 26.6%, from $150.3 million at September 30, 2025. The increase for the current quarter was primarily due to purchases of $25.9 million, partially offset by principal pay-downs of $11.7 million, a fair value decrease of $8.3 million and net premium amortization of $42 thousand. The increase for the current year-to-date period was primarily due to purchases of $66.9 million, partially offset by principal pay-downs of $26.5 million, a fair value decrease of $10.0 million and net premium amortization of $114 thousand.

Deposits

The following table presents the Company’s deposit mix as of the dates indicated:

		9/30/2026						6/30/2026						12/31/2025						9/30/2025
($ in thousands)		Amount			% to Total			Amount			% to Total			Amount			% to Total			Amount			% to Total
Noninterest-bearing demand deposits		$	579,783		18.8	%		$	569,367		19.5	%		$	555,645		19.9	%		$	551,312		18.9	%
Interest-bearing deposits:
Savings, NOW and money market accounts
Retail			816,128		26.4	%			706,940		24.1	%			676,074		24.1	%			669,373		22.9	%
Wholesale - brokered			1		0.1	%			1		0.1	%			1		0.1	%			1		0.1	%
Time deposits of $250,000 or less
Retail			587,744		19.2	%			578,814		19.8	%			574,519		20.6	%			580,300		19.9	%
Wholesale - brokered			245,829		7.9	%			245,829		8.4	%			280,540		10.1	%			381,000		13.0	%
Time deposits of more than $250,000
Retail			727,108		23.7	%			701,708		24.0	%			648,633		23.1	%			671,516		23.1	%
Wholesale - state			120,000		3.9	%			120,000		4.1	%			60,000		2.1	%			60,000		2.1	%
Total interest-bearing deposits			2,496,810		81.2	%			2,353,292		80.5	%			2,239,767		80.1	%			2,362,190		81.1	%
Total deposits		$	3,076,593		100.0	%		$	2,922,659		100.0	%		$	2,795,412		100.0	%		$	2,913,502		100.0	%
Total retail deposits		$	2,710,763		88.1	%		$	2,556,829		87.4	%		$	2,454,871		87.7	%		$	2,472,501		84.8	%
Total wholesale deposits		$	365,830		11.9	%		$	365,830		12.6	%		$	340,541		12.3	%		$	441,001		15.2	%
Estimated total deposits not covered by deposit insurance		$	1,527,426		49.6	%		$	1,363,432		46.7	%		$	1,270,159		45.4	%		$	1,275,127		43.8	%

The increase in retail time deposits for the current quarter was primarily due to new accounts of $115.6 million, renewals of matured accounts of $303.8 million and balance increases of $17.8 million, partially offset by matured and closed accounts of $402.9 million. The increase for the current year-to-date period was primarily due to new accounts of $325.0 million, renewals of the matured accounts of $997.8 million and balance increases of $45.3 million, partially offset by matured and closed accounts of $1.28 billion.

Liquidity

The following table presents a summary of the Company’s liquidity position as of the dates indicated:

($ in thousands)		9/30/2026				12/31/2025				% Change
Cash and cash equivalents		$	413,199			$	207,142			99.5	%
Cash and cash equivalents to total assets			11.7	%			6.3	%
Available borrowing capacity
FHLB advances		$	867,226			$	840,607			3.2	%
Federal Reserve Discount Window			941,227				841,563			11.8	%
Overnight federal funds lines			65,000				65,000			—	%
Total		$	1,873,453			$	1,747,170			7.2	%
Total available borrowing capacity to total assets			53.0	%			53.2	%

Shareholders’ Equity

Shareholders’ equity was $402.1 million at September 30, 2026, an increase of $1.7 million, or 0.4%, from $400.5 million at June 30, 2026, an increase of $12.1 million, or 3.1%, from $390.0 million at December 31, 2025, and an increase of $17.6 million, or 4.6%, from $384.5 million at September 30, 2025.

The increase for the current quarter was primarily due to net income and proceeds from stock option exercises of $341 thousand, partially offset by repurchases of common stock of $2.0 million, cash dividends declared on common stock of $3.1 million and preferred stock dividends of $86 thousand, and an increase in accumulated other comprehensive loss of $5.9 million. The increase for the current year-to-date period was primarily due to net income and proceeds from stock option exercises of $654 thousand, partially offset by cash dividends declared on common stock of $9.3 million, repurchases of common stock of $5.8 million and preferred stock dividends of $259 thousand, and an increase in accumulated other comprehensive loss of $7.2 million.

Stock Repurchases

During the current year-to-date period, the Company repurchased and retired 219,526 shares of common stock at a weighted-average price of $26.51, totaling $5.8 million under the stock repurchase program that was first announced in 2023 and extended in 2024 and 2025. This stock repurchase program had been completed as of July 23, 2026. On September 28, 2026, the Company’s Board of Directors approved a new stock repurchase program authorizing the repurchase of up to 700,000 shares of common stock through September 22, 2027. As of September 30, 2026, the Company is authorized to purchase 700,000 shares under this new stock repurchase program.

In 2025, the Company repurchased and retired 358,251 shares of common stock at a weighted-average price of $19.82, totaling $7.1 million.

Series C Preferred Stock

The Company paid dividends of $86 thousand and $259 thousand for the current quarter and year-to-date period, respectively.

Capital Ratios

The following table presents capital ratios for the Company and the Bank as of the dates indicated:

		9/30/2026			6/30/2026			12/31/2025			9/30/2025			Well Capitalized Minimum Requirements
PCB Bancorp
Common tier 1 capital (to risk-weighted assets)		11.98	%		11.41	%		11.46	%		11.52	%		6.50	%
Total capital (to risk-weighted assets)		15.63	%		14.98	%		15.13	%		15.24	%		10.00	%
Tier 1 capital (to risk-weighted assets)		14.39	%		13.75	%		13.89	%		14.00	%		8.00	%
Tier 1 capital (to average assets)		11.77	%		11.89	%		11.89	%		11.57	%		5.00	%
PCB Bank
Common tier 1 capital (to risk-weighted assets)		13.96	%		13.35	%		13.49	%		13.61	%		6.50	%
Total capital (to risk-weighted assets)		15.20	%		14.58	%		14.72	%		14.85	%		10.00	%
Tier 1 capital (to risk-weighted assets)		13.96	%		13.35	%		13.49	%		13.61	%		8.00	%
Tier 1 capital (to average assets)		11.42	%		11.54	%		11.55	%		11.25	%		5.00	%

About PCB Bancorp

PCB Bancorp is the bank holding company for PCB Bank, a California state chartered bank, offering a full suite of commercial banking services to small to medium-sized businesses, individuals and professionals, primarily in Southern California, and predominantly in Korean-American and other minority communities.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements. These forward-looking statements represent plans, estimates, objectives, goals, guidelines, expectations, intentions, projections and statements of our beliefs concerning future events, business plans, objectives, expected operating results and the assumptions upon which those statements are based. Forward-looking statements include without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and are typically identified with words such as “may,” “could,” “should,” “will,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “aim,” “intend,” “plan,” or words or phrases of similar meaning. We caution that forward-looking statements are based largely on our expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond our control, including but not limited to the health of the national and local economies including the impact on the Company and its customers resulting from any adverse developments in real estate markets, inflation levels and interest rates; the impacts of the conflicts in the Middle East on the national and global economies and markets; the impact of governmental monetary policy; any material weaknesses in the Company’s internal control over financial reporting that we have identified or may identify; the impacts of sanctions, tariffs and other trade policies of the United States and its global trading partners and tensions related to the same; the Company’s ability to maintain and grow its deposit base; loan demand and continued portfolio performance; the impact of adverse developments at other banks, including bank failures; changes to valuations of the Company’s assets and liabilities including the allowance for credit losses, earning assets, and intangible assets; the ability of the Company to manage liquidity; changes in the availability of liquidity sources including borrowing lines and the ability to pledge or sell certain assets; the Company's ability to attract and retain skilled employees; customers' service expectations; cyber-security risks; the Company's ability to successfully deploy new technology; acquisitions and branch and loan production office expansions; operational risks including the ability to detect and prevent errors and fraud; the effectiveness of the Company’s enterprise risk management framework; litigation costs and outcomes; changes in laws, rules, regulations, or interpretations to which the Company is subject; the effects of severe weather events, pandemics, wildfires and other disasters, other public health crises, acts of war or terrorism, and other external events on our business. These and other important factors are detailed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and other filings the Company makes with the SEC, which are available without charge at the SEC’s website (http://www.sec.gov) and on the investor relations section of the Company’s website at www.mypcbbank.com. Actual results, performance or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements. Any forward-looking statements presented herein are made only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise, except as required by law.

PCB Bancorp and Subsidiary Consolidated Balance Sheets (Unaudited) ($ in thousands, except share and per share data)
		9/30/2026				6/30/2026				% Change			12/31/2025				% Change			9/30/2025				% Change
Assets
Cash and due from banks		$	24,120			$	30,896			(21.9	)%		$	25,319			(4.7	)%		$	24,366			(1.0	)%
Interest-bearing deposits in other financial institutions			389,079				234,301			66.1	%			181,823			114.0	%			345,132			12.7	%
Total cash and cash equivalents			413,199				265,197			55.8	%			207,142			99.5	%			369,498			11.8	%
Securities available-for-sale, at fair value			190,185				184,318			3.2	%			160,009			18.9	%			150,279			26.6	%
Loans held-for-sale			2,318				2,937			(21.1	)%			12,077			(80.8	)%			9,634			(75.9	)%
Loans held-for-investment			2,844,856				2,932,019			(3.0	)%			2,820,400			0.9	%			2,752,514			3.4	%
Allowance for credit losses on loans			(34,087	)			(34,738	)		(1.9	)%			(33,381	)		2.1	%			(32,960	)		3.4	%
Net loans held-for-investment			2,810,769				2,897,281			(3.0	)%			2,787,019			0.9	%			2,719,554			3.4	%
Premises and equipment, net			7,021				7,296			(3.8	)%			8,194			(14.3	)%			8,604			(18.4	)%
Federal Home Loan Bank and other bank stock			15,170				15,170			—	%			14,978			1.3	%			14,978			1.3	%
Bank-owned life insurance			33,638				33,351			0.9	%			32,796			2.6	%			32,525			3.4	%
Deferred tax assets, net			10,140				9,977			1.6	%			9,210			10.1	%			7,164			41.5	%
Servicing assets			5,644				5,655			(0.2	)%			5,627			0.3	%			5,883			(4.1	)%
Operating lease assets			15,941				15,844			0.6	%			17,158			(7.1	)%			17,136			(7.0	)%
Accrued interest receivable			10,951				10,574			3.6	%			10,669			2.6	%			10,829			1.1	%
Other assets			22,696				22,524			0.8	%			16,892			34.4	%			17,422			30.3	%
Total assets		$	3,537,672			$	3,470,124			1.9	%		$	3,281,771			7.8	%		$	3,363,506			5.2	%
Liabilities
Deposits
Noninterest-bearing demand		$	579,783			$	569,367			1.8	%		$	555,645			4.3	%		$	551,312			5.2	%
Savings, NOW and money market accounts			816,129				706,941			15.4	%			676,075			20.7	%			669,374			21.9	%
Time deposits of $250,000 or less			833,573				824,643			1.1	%			855,059			(2.5	)%			961,299			(13.3	)%
Time deposits of more than $250,000			847,108				821,708			3.1	%			708,633			19.5	%			731,517			15.8	%
Total deposits			3,076,593				2,922,659			5.3	%			2,795,412			10.1	%			2,913,502			5.6	%
Other short-term borrowings			—				10,000			(100.0	)%			—			—	%			—			—	%
Federal Home Loan Bank advances			—				80,000			(100.0	)%			34,000			(100.0	)%			—			—	%
Operating lease liabilities			17,820				17,701			0.7	%			18,996			(6.2	)%			18,961			(6.0	)%
Accrued interest payable and other liabilities			41,129				39,301			4.7	%			43,337			(5.1	)%			46,542			(11.6	)%
Total liabilities			3,135,542				3,069,661			2.1	%			2,891,745			8.4	%			2,979,005			5.3	%
Commitments and contingent liabilities
Shareholders’ equity
Preferred stock			69,141				69,141			—	%			69,141			—	%			69,141			—	%
Common stock			134,767				136,237			(1.1	)%			139,256			(3.2	)%			140,580			(4.1	)%
Retained earnings			210,245				201,214			4.5	%			186,485			12.7	%			180,189			16.7	%
Accumulated other comprehensive loss, net			(12,023	)			(6,129	)		96.2	%			(4,856	)		147.6	%			(5,409	)		122.3	%
Total shareholders’ equity			402,130				400,463			0.4	%			390,026			3.1	%			384,501			4.6	%
Total liabilities and shareholders’ equity		$	3,537,672			$	3,470,124			1.9	%		$	3,281,771			7.8	%		$	3,363,506			5.2	%
Outstanding common shares			14,056,981				14,102,189							14,230,428							14,277,164
Book value per common share (1)		$	28.61			$	28.40						$	27.41						$	26.93
TCE per common share (2)		$	23.69			$	23.49						$	22.55						$	22.09
Total loan to total deposit ratio			92.54	%			100.42	%						101.33	%						94.81	%
Noninterest-bearing deposits to total deposits			18.84	%			19.48	%						19.88	%						18.92	%

(1)	The ratios are calculated by dividing total shareholders’ equity by the number of outstanding common shares. The Company had no intangible equity components for the presented periods.
(2)	Non-GAAP. See “Non-GAAP Financial Measures” for a reconciliation of this measure to its most comparable GAAP measure.

PCB Bancorp and Subsidiary Consolidated Statements of Income (Unaudited) ($ in thousands, except share and per share data)
		Three Months Ended																		Nine Months Ended
		9/30/2026				6/30/2026				% Change			9/30/2025				% Change			9/30/2026				9/30/2025				% Change
Interest and dividend income
Loans, including fees		$	47,154			$	45,886			2.8	%		$	46,193			2.1	%		$	137,524			$	134,697			2.1	%
Investment securities			2,073				1,795			15.5	%			1,474			40.6	%			5,442				4,344			25.3	%
Other interest-earning assets			3,255				2,359			38.0	%			3,804			(14.4	)%			8,387				8,630			(2.8	)%
Total interest income			52,482				50,040			4.9	%			51,471			2.0	%			151,353				147,671			2.5	%
Interest expense
Deposits			23,242				21,795			6.6	%			23,995			(3.1	)%			66,515				69,064			(3.7	)%
Other borrowings			421				751			(43.9	)%			498			(15.5	)%			1,715				1,356			26.5	%
Total interest expense			23,663				22,546			5.0	%			24,493			(3.4	)%			68,230				70,420			(3.1	)%
Net interest income			28,819				27,494			4.8	%			26,978			6.8	%			83,123				77,251			7.6	%
Provision (reversal) for credit losses			(705	)			926			NM				(381	)		85.0	%			688				3,004			(77.1	)%
Net interest income after provision (reversal) for credit losses			29,524				26,568			11.1	%			27,359			7.9	%			82,435				74,247			11.0	%
Noninterest income
Gain on sale of loans			1,626				1,182			37.6	%			1,617			0.6	%			4,217				3,969			6.2	%
Service charges and fees on deposits			457				450			1.6	%			377			21.2	%			1,337				1,124			19.0	%
Loan servicing income			650				802			(19.0	)%			719			(9.6	)%			2,253				2,204			2.2	%
BOLI income			287				281			2.1	%			259			10.8	%			842				759			10.9	%
Other income			553				488			13.3	%			442			25.1	%			1,501				1,235			21.5	%
Total noninterest income			3,573				3,203			11.6	%			3,414			4.7	%			10,150				9,291			9.2	%
Noninterest expense
Salaries and employee benefits			10,026				9,551			5.0	%			9,293			7.9	%			29,297				27,212			7.7	%
Occupancy and equipment			2,283				2,369			(3.6	)%			2,372			(3.8	)%			6,929				7,040			(1.6	)%
Professional fees			834				645			29.3	%			541			54.2	%			2,013				1,974			2.0	%
Marketing and business promotion			636				446			42.6	%			669			(4.9	)%			1,538				1,509			1.9	%
Data processing			359				342			5.0	%			333			7.8	%			1,038				983			5.6	%
Director fees and expenses			224				223			0.4	%			223			0.4	%			670				674			(0.6	)%
Regulatory assessments			386				368			4.9	%			373			3.5	%			1,115				1,075			3.7	%
Other expense			1,304				1,169			11.5	%			1,065			22.4	%			3,379				3,705			(8.8	)%
Total noninterest expense			16,052				15,113			6.2	%			14,869			8.0	%			45,979				44,172			4.1	%
Income before income taxes			17,045				14,658			16.3	%			15,904			7.2	%			46,606				39,366			18.4	%
Income tax expense			4,837				4,151			16.5	%			4,492			7.7	%			13,238				11,148			18.7	%
Net income			12,208				10,507			16.2	%			11,412			7.0	%			33,368				28,218			18.3	%
Preferred stock dividends			86				87			(1.1	)%			86			—	%			259				213			21.6	%
Net income available to common shareholders		$	12,122			$	10,420			16.3	%		$	11,326			7.0	%		$	33,109			$	28,005			18.2	%
Earnings per common share
Basic		$	0.86			$	0.73						$	0.79						$	2.34			$	1.95
Diluted		$	0.85			$	0.73						$	0.78						$	2.32			$	1.94
Average common shares
Basic			13,972,293				14,107,290							14,201,054							14,073,270				14,228,524
Diluted			14,095,095				14,220,414							14,325,956							14,193,697				14,354,284
Dividend paid per common share		$	0.22			$	0.22						$	0.20						$	0.66			$	0.60
ROAA (1)			1.38	%			1.24	%						1.35	%						1.31	%			1.17	%
ROAE (1)			12.03	%			10.55	%						11.92	%						11.18	%			10.10	%
ROATCE (1), (2)			14.42	%			12.65	%						14.46	%						13.42	%			12.30	%
Efficiency ratio (3)			49.56	%			49.23	%						48.92	%						49.30	%			51.04	%

(1)	Ratios are presented on an annualized basis.
(2)	Non-GAAP. See “Non-GAAP Financial Measures” for a reconciliation of this measure to its most comparable GAAP measure.
(3)	The ratios are calculated by dividing noninterest expense by the sum of net interest income and noninterest income.

PCB Bancorp and Subsidiary Average Balance, Average Yield, and Average Rate (Unaudited) ($ in thousands)
		Three Months Ended
		9/30/2026										6/30/2026										9/30/2025
		Average Balance				Interest Income/ Expense			Avg. Yield/ Rate(6)			Average Balance				Interest Income/ Expense			Avg. Yield/ Rate(6)			Average Balance				Interest Income/ Expense			Avg. Yield/ Rate(6)
Assets
Interest-earning assets
Total loans (1)		$	2,902,481			$	47,154		6.45	%		$	2,885,996			$	45,886		6.38	%		$	2,784,148			$	46,193		6.58	%
Mortgage-backed securities			164,122				1,754		4.24	%			150,065				1,534		4.10	%			120,226				1,167		3.85	%
Collateralized mortgage obligation			17,019				158		3.68	%			17,713				163		3.69	%			19,957				197		3.92	%
SBA loan pool securities			3,356				25		2.96	%			3,695				29		3.15	%			4,686				41		3.47	%
Municipal bonds (2)			2,446				22		3.57	%			2,459				22		3.59	%			2,411				22		3.62	%
Corporate bonds			8,369				114		5.40	%			4,784				47		3.94	%			4,804				47		3.88	%
Other interest-earning assets			311,417				3,255		4.15	%			249,717				2,359		3.79	%			327,637				3,804		4.61	%
Total interest-earning assets			3,409,210				52,482		6.11	%			3,314,429				50,040		6.06	%			3,263,869				51,471		6.26	%
Noninterest-earning assets
Cash and due from banks			24,291										23,224										23,539
ACL on loans			(34,732	)									(33,951	)									(33,548	)
Other assets			104,124										99,850										100,728
Total noninterest-earning assets			93,683										89,123										90,719
Total assets		$	3,502,893									$	3,403,552									$	3,354,588
Liabilities and Shareholders’ Equity
Interest-bearing liabilities
Deposits
NOW and money market accounts		$	774,135				6,865		3.52	%		$	683,731				5,872		3.44	%		$	612,527				5,698		3.69	%
Savings			4,904				3		0.24	%			4,995				3		0.24	%			5,519				3		0.22	%
Time deposits			1,666,591				16,374		3.90	%			1,637,437				15,920		3.90	%			1,708,124				18,294		4.25	%
Total interest-bearing deposits			2,445,630				23,242		3.77	%			2,326,163				21,795		3.76	%			2,326,170				23,995		4.09	%
Other borrowings			42,000				421		3.98	%			76,374				751		3.94	%			43,109				498		4.58	%
Total interest-bearing liabilities			2,487,630				23,663		3.77	%			2,402,537				22,546		3.76	%			2,369,279				24,493		4.10	%
Noninterest-bearing liabilities
Noninterest-bearing demand			554,348										544,048										541,243
Other liabilities			58,254										57,499										64,232
Total noninterest-bearing liabilities			612,602										601,547										605,475
Total liabilities			3,100,232										3,004,084										2,974,754
Total shareholders’ equity			402,661										399,468										379,834
Total liabilities and shareholders’ equity		$	3,502,893									$	3,403,552									$	3,354,588
Net interest income						$	28,819									$	27,494									$	26,978
Net interest spread (3)									2.34	%									2.30	%									2.16	%
Net interest margin (4)									3.35	%									3.33	%									3.28	%
Total deposits		$	2,999,978			$	23,242		3.07	%		$	2,870,211			$	21,795		3.05	%		$	2,867,413			$	23,995		3.32	%
Total funding (5)		$	3,041,978			$	23,663		3.09	%		$	2,946,585			$	22,546		3.07	%		$	2,910,522			$	24,493		3.34	%

(1)	Total loans include both loans held-for-sale and loans held-for-investment.
(2)	The yield on municipal bonds has not been computed on a tax-equivalent basis.
(3)	Net interest spread is calculated by subtracting average rate on interest-bearing liabilities from average yield on interest-earning assets.
(4)	Net interest margin is calculated by dividing annualized net interest income by average interest-earning assets.
(5)	Total funding is the sum of interest-bearing liabilities and noninterest-bearing deposits. The cost of total funding is calculated as annualized total interest expense divided by average total funding.
(6)	Annualized.

PCB Bancorp and Subsidiary Average Balance, Average Yield, and Average Rate (Unaudited) ($ in thousands)
		Nine Months Ended
		9/30/2026										9/30/2025
		Average Balance				Interest Income/ Expense			Avg. Yield/ Rate(6)			Average Balance				Interest Income/ Expense			Avg. Yield/ Rate(6)
Assets
Interest-earning assets
Total loans (1)		$	2,876,614			$	137,524		6.39	%		$	2,738,957			$	134,697		6.58	%
Mortgage-backed securities			148,525				4,593		4.13	%			117,040				3,387		3.87	%
Collateralized mortgage obligation			17,720				490		3.70	%			20,530				610		3.97	%
SBA loan pool securities			3,701				85		3.07	%			5,322				141		3.54	%
Municipal bonds (2)			2,469				66		3.57	%			2,405				65		3.61	%
Corporate bonds			5,987				208		4.64	%			4,617				141		4.08	%
Other interest-earning assets			266,040				8,387		4.21	%			246,396				8,630		4.68	%
Total interest-earning assets			3,321,056				151,353		6.09	%			3,135,267				147,671		6.30	%
Noninterest-earning assets
Cash and due from banks			23,676										23,817
ACL on loans			(34,014	)									(32,063	)
Other assets			100,853										100,101
Total noninterest-earning assets			90,515										91,855
Total assets		$	3,411,571									$	3,227,122
Liabilities and Shareholders’ Equity
Interest-bearing liabilities
Deposits
NOW and money market accounts		$	712,343				18,480		3.47	%		$	543,570				14,767		3.63	%
Savings			5,085				9		0.24	%			5,488				10		0.24	%
Time deposits			1,633,481				48,026		3.93	%			1,669,484				54,287		4.35	%
Total interest-bearing deposits			2,350,909				66,515		3.78	%			2,218,542				69,064		4.16	%
Other borrowings			58,073				1,715		3.95	%			39,586				1,356		4.58	%
Total interest-bearing liabilities			2,408,982				68,230		3.79	%			2,258,128				70,420		4.17	%
Noninterest-bearing liabilities
Noninterest-bearing demand			544,436										530,558
Other liabilities			59,222										64,997
Total noninterest-bearing liabilities			603,658										595,555
Total liabilities			3,012,640										2,853,683
Total shareholders’ equity			398,931										373,439
Total liabilities and shareholders’ equity		$	3,411,571									$	3,227,122
Net interest income						$	83,123									$	77,251
Net interest spread (3)									2.30	%									2.13	%
Net interest margin (4)									3.35	%									3.29	%
Total deposits		$	2,895,345			$	66,515		3.07	%		$	2,749,100			$	69,064		3.36	%
Total funding (5)		$	2,953,418			$	68,230		3.09	%		$	2,788,686			$	70,420		3.38	%

(1)	Total loans include both loans held-for-sale and loans held-for-investment.
(2)	The yield on municipal bonds has not been computed on a tax-equivalent basis.
(3)	Net interest spread is calculated by subtracting average rate on interest-bearing liabilities from average yield on interest-earning assets.
(4)	Net interest margin is calculated by dividing annualized net interest income by average interest-earning assets.
(5)	Total funding is the sum of interest-bearing liabilities and noninterest-bearing deposits. The cost of total funding is calculated as annualized total interest expense divided by average total funding.
(6)	Annualized.

PCB Bancorp and Subsidiary
Non-GAAP Financial Measures

Return on average tangible common equity, tangible common equity per common share and tangible common equity to total assets ratios

The Company's TCE is calculated by subtracting preferred stock from shareholders’ equity. The Company had no intangible assets for the presented periods. ROATCE, TCE per common share, and TCE to total assets constitute supplemental financial information determined by methods other than in accordance with Generally Accepted Accounting Principles, or GAAP. These non-GAAP financial measures are used by management in its analysis of the Company's performance. These non-GAAP financial measures should not be viewed as substitutes for results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP financial measures that may be presented by other companies. The following tables provide reconciliations of the non-GAAP financial measures with financial measures defined by GAAP.

($ in thousands)			Three Months Ended												Nine Months Ended
			9/30/2026				6/30/2026				9/30/2025				9/30/2026				9/30/2025
Average total shareholders' equity	(a)		$	402,661			$	399,468			$	379,834			$	398,931			$	373,439
Less: average preferred stock	(b)			69,141				69,141				69,141				69,141				69,141
Average TCE	(c)=(a)-(b)			333,520				330,327				310,693				329,790				304,298
Net income	(d)		$	12,208			$	10,507			$	11,412			$	33,368			$	28,218
ROAE (1)	(d)/(a)			12.03	%			10.55	%			11.92	%			11.18	%			10.10	%
Net income available to common shareholders	(e)			12,122				10,420				11,326				33,109				28,005
ROATCE (1)	(e)/(c)			14.42	%			12.65	%			14.46	%			13.42	%			12.30	%
(1) Annualized.

($ in thousands, except per share data)			9/30/2026				6/30/2026				12/31/2025				9/30/2025
Total shareholders' equity	(a)		$	402,130			$	400,463			$	390,026			$	384,501
Less: preferred stock	(b)			69,141				69,141				69,141				69,141
TCE	(c)=(a)-(b)			332,989				331,322				320,885				315,360
Outstanding common shares	(d)			14,056,981				14,102,189				14,230,428				14,277,164
Book value per common share	(a)/(d)		$	28.61			$	28.40			$	27.41			$	26.93
TCE per common share	(c)/(d)			23.69				23.49				22.55				22.09
Total assets	(e)		$	3,537,672			$	3,470,124			$	3,281,771			$	3,363,506
Total shareholders' equity to total assets	(a)/(e)			11.37	%			11.54	%			11.88	%			11.43	%
TCE to total assets	(c)/(e)			9.41	%			9.55	%			9.78	%			9.38	%

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20261029488802/en/

Timothy Chang
Senior Executive Vice President & Chief Financial Officer
213-210-2000

Source: PCB Bancorp

Key Terms

allowance for credit losses financial

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

net interest margin financial

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

non-gaap financial

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

View in glossary

tier 1 leverage ratio financial

Tier 1 leverage ratio measures a bank’s core capital — the money that can absorb losses — as a share of its total assets, showing how much of its balance sheet is funded by real loss-absorbing capital rather than borrowed money. Investors use it like a safety gauge: a higher ratio means a bigger cushion against shocks and lower risk of insolvency, similar to how a thicker spare tire reduces the chance of being stranded.