Pinnacle Bankshares Corporation Announces Quarterly Cash Dividend of 28 Cents per Share & Approval of Stock Repurchase Plan

Rhea-AI Summary

Pinnacle Bankshares Corporation (OTCQX: PPBN) declared a quarterly cash dividend of $0.28 per share, payable March 6, 2026, to shareholders of record February 20, 2026. The dividend matches the prior quarter and is the 54th consecutive quarterly dividend.

The Board also approved a stock repurchase plan authorizing repurchases of up to $3,500,000 of common shares through December 31, 2026; repurchases may occur via open market, block trades, private purchases or Rule 10b5-1 plans and may be suspended or modified.

Positive

• Dividend maintained at $0.28 per share
• 54 consecutive quarters of declared dividends
• $3.5M repurchase authorization through Dec 31, 2026
• New branch opened in South Boston, Halifax County in January 2026

Negative

• Stock repurchases may be suspended or discontinued at any time
• Repurchases depend on capital ratios and liquidity, limiting near-term activity

News Market Reaction – PPBN

+0.53%

1 alert

+0.53% News Effect

On the day this news was published, PPBN gained 0.53%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

ALTAVISTA, Va., Feb. 13, 2026 (GLOBE NEWSWIRE) -- Pinnacle Bankshares Corporation (“Pinnacle” or the “Company”) (OTCQX: PPBN), the one-bank holding company for First National Bank (the “Bank”), announced today that its Board of Directors declared a cash dividend of $0.28 per share on February 10, 2026, payable March 6, 2026, to shareholders of record as of February 20, 2026.

The $0.28 per share cash dividend is equal to the $0.28 paid last quarter and marks the fifty-fourth consecutive quarter that a dividend has been declared.

Also on February 10, 2026, the Board approved implementation of a Stock Repurchase Plan authorizing the repurchase of up to $3,500,000 of the Company’s outstanding common shares through December 31, 2026. The Company may repurchase shares, from time to time at management’s discretion, through open market purchases, block trades, and privately-negotiated purchases, including pursuant to a trading plan in accordance with Rule 10b5-1 promulgated under the Securities Exchange Act of 1934, as amended, as appropriate opportunities are presented. The actual means and timing of repurchases, as well as the number of shares repurchased under the plan, will depend on a variety of factors, the availability of stock, general market and economic conditions, the trading price of the Company’s common stock, alternative uses for capital, the Company’s capital ratios, financial condition and liquidity position, and applicable legal and regulatory requirements. The stock repurchase plan may be suspended, modified or discontinued at any time, and the Company has no obligation to repurchase any amount of its common stock under the plan.

“We are pleased to provide the cash dividend and announce implementation of a stock repurchase plan,” stated Aubrey H. Hall, III, President and Chief Executive Officer for both the Company and the Bank. Mr. Hall further commented, “The plan is intended to position Pinnacle to pursue appropriate stock acquisition opportunities that provide potential to further enhance shareholder returns.”

Company Information

Pinnacle Bankshares Corporation is a locally managed community banking organization serving Central and Southern Virginia. The one-bank holding company of First National Bank serves market areas consisting primarily of all or portions of the Counties of Amherst, Bedford, Campbell, Halifax, and Pittsylvania, and the Cities of Charlottesville, Danville, and Lynchburg. The Company has a total of nineteen branches with one branch in Amherst County within the Town of Amherst, two branches in Bedford County; five branches in Campbell County, including two within the Town of Altavista, where the Bank was founded; one branch in the City of Charlottesville, three branches in the City of Danville; three branches in the City of Lynchburg; and three branches in Pittsylvania County, including one within the Town of Chatham. The Bank opened a full-service branch in the South Boston area of Halifax County in January of this year, where it also continues to operate a commercial loan production office. First National Bank is in its 118^th year of operation.         

This press release may contain “forward-looking statements” within the meaning of federal securities laws that involve significant risks and uncertainties. Any statements contained herein that are not historical facts are forward-looking and are based on current assumptions and analysis by the Company. These forward-looking statements, including statements made in Mr. Hall’s quotes may include, but are not limited to, statements regarding the Company’s stock repurchase plan, shareholder returns, future operating results and business performance. Although we believe our plans and expectations reflected in these forward-looking statements are reasonable, our ability to predict results or the actual effect of future plans or strategies is inherently uncertain, and we can give no assurance that these plans or expectations will be achieved. Factors that could cause actual results to differ materially from management's expectations include, but are not limited to: changes in consumer spending and saving habits that may occur, including due to inflation and changing interest rates; changes in general business, economic and market conditions; attracting, hiring, training, motivating and retaining qualified employees; changes in fiscal and monetary policies, and laws and regulations; changes in interest rates, inflation rates, deposit flows, loan demand and real estate values; changes in the quality or composition of the Company’s loan portfolio and the value of the collateral securing loans; changes in macroeconomic trends and uncertainty, including liquidity concerns at other financial institutions, and the potential for local and/or global economic recession; changes in demand for financial services in Pinnacle’s market areas; increased competition from both banks and non-banks in Pinnacle’s market areas; a deterioration in credit quality and/or a reduced demand for, or supply of, credit; increased information security risk, including cyber security risk, which may lead to potential business disruptions or financial losses; volatility in the securities markets generally, including in the value of securities in the Company’s securities portfolio or in the market price of Pinnacle common stock specifically; and other factors, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. These risks and uncertainties should be considered in evaluating the forward-looking statements contained herein, and you should not place undue reliance on such statements, which reflect our views as of the date of this release.

CONTACT: Pinnacle Bankshares Corporation, Bryan M. Lemley, 434-477-5882 or bryanlemley@1stnatbk.com

FAQ

What dividend did Pinnacle Bankshares (PPBN) declare on February 10, 2026?

The company declared a cash dividend of $0.28 per share. According to the company, the dividend is payable March 6, 2026 to shareholders of record February 20, 2026 and equals the prior quarter's payment.

When will Pinnacle Bankshares (PPBN) shareholders receive the March 2026 dividend?

Shareholders of record as of February 20, 2026 will receive the dividend on March 6, 2026. According to the company, the dividend reflects the 54th consecutive quarterly declaration.

How large is the Pinnacle Bankshares (PPBN) stock repurchase plan announced February 10, 2026?

The Board authorized repurchases of up to $3,500,000 of common shares through December 31, 2026. According to the company, purchases may occur via open market, block trades, private purchases or Rule 10b5-1 plans.

How will Pinnacle Bankshares (PPBN) execute share buybacks under the 2026 plan?

The company may repurchase shares through open market purchases, block trades, privately negotiated buys or a Rule 10b5-1 trading plan. According to the company, timing and method depend on market and capital conditions.

Does Pinnacle Bankshares (PPBN) have to repurchase shares under the new plan?

No, the company has no obligation to repurchase any shares and the program may be suspended or modified. According to the company, repurchases are discretionary and subject to legal and regulatory limits.

What constraints could limit Pinnacle Bankshares (PPBN) repurchases in 2026?

Repurchases depend on factors like the company’s capital ratios, liquidity, stock price, and market conditions. According to the company, these considerations will determine the amount and timing of any buybacks.