Pinnacle Bancshares Inc. reports recurring bank holding company updates for PCLB, centered on the operating results and capital position of its wholly owned subsidiary, Pinnacle Bank. Company news commonly covers quarterly and annual earnings, basic and diluted earnings per share, cash dividend declarations, deposit trends, liquidity measures, and regulatory capital ratios.
Pinnacle Bank operates seven offices in central and northwest Alabama. Recent updates also discuss the effect of interest-rate changes on securities available for sale, accumulated other comprehensive loss, loan-to-deposit levels, outside funding availability, and the bank's classification as a well-capitalized institution.
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Pinnacle Bancshares, Inc. (OTCBB: PCLB) reported a net income of $4,504,000 for the year ending December 31, 2022, resulting in basic/diluted earnings per share of $4.79, a slight decrease from $4.83 in the previous year. Excluding unusual items, adjusted net income for 2022 was $4,327,000, compared to $3,879,000 in 2021. For Q4 2022, net income reached $1,016,000, up from $972,000 in Q4 2021. Despite net charge-offs of $102,000 and a significant accumulated other comprehensive loss of $30 million due to rising interest rates, the company maintained a well-capitalized status with no nonperforming assets.