PBCO Announces Cash Dividend

Rhea-AI Summary

PBCO Financial has declared its first cash dividend since 2009, representing 15% of 2024 year-end net income, amounting to $0.229 per share. The dividend will be paid on March 5, 2025, to shareholders of record February 19, 2025.

As of December 31, 2024, the company reported:

• Total assets: $798.6 million
• Total deposits: $673.8 million
• Shareholder's equity: $87.6 million
• Net income: $8.1 million
• Earnings per share: $1.52

The company maintains strong capitalization according to regulatory standards.

Positive

• First dividend payment since 2009, indicating improved financial health
• Strong net income of $8.1 million for 2024
• Healthy EPS of $1.52
• Robust asset base of $798.6 million
• Strong deposit base of $673.8 million
• Solid shareholder's equity of $87.6 million

Negative

• Relatively low dividend payout ratio of 15% of net income

MEDFORD, Ore.--(BUSINESS WIRE)-- PBCO Financial Corporation (OTCPK: “PBCO”), the holding company (Company) of People’s Bank of Commerce (Bank), today announced that it has declared a cash dividend representing 15% of 2024 year-end net income, or $0.229 per share. The $0.229 dividend will be paid on March 5, 2025, to shareholders of record February 19, 2025 and will be rounded up to the nearest full cent upon payment. “I am pleased to announce that this represents the first cash dividend paid to shareholders since 2009. The Company remains well capitalized by regulatory capital standards,” reported Julia Beattie, President and CEO.

As of December 31, 2024, the Company reported total assets of $798.6 million, total deposits of $673.8 million, and shareholder’s equity of $87.6 million. The Company reported net income of $8.1 million, or earnings per share of $1.52, for the year-end 2024.

About PBCO Financial Corporation

PBCO Financial Corporation’s stock trades on the over-the-counter market under the symbol PBCO. Additional information about the Company is available in the investor section of the Company’s website at: www.peoplesbank.bank.

Founded in 1998, People’s Bank of Commerce is a full-service, commercial bank headquartered in Medford, Oregon with branches in Albany, Ashland, Central Point, Eugene, Grants Pass, Jacksonville, Klamath Falls, Lebanon, Medford, and Salem.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:

This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as People’s Bank or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe People’s Bank’s business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250204195175/en/

Julia Beattie, President & CEO

(541) 608-8920

julia.beattie@peoplesbank.bank

Source: PBCO Financial Corporation

FAQ

What is PBCO's dividend amount and payment date for 2025?

PBCO will pay a dividend of $0.229 per share on March 5, 2025, to shareholders of record as of February 19, 2025.

What percentage of PBCO's 2024 net income is being distributed as dividends?

PBCO is distributing 15% of its 2024 year-end net income as dividends to shareholders.

What was PBCO's net income and EPS for 2024?

PBCO reported a net income of $8.1 million and earnings per share (EPS) of $1.52 for the year-end 2024.

When was PBCO's last dividend payment before this announcement?

PBCO's last dividend payment was in 2009, making this the first dividend payment in approximately 15 years.

What are PBCO's total assets and deposits as of December 31, 2024?

As of December 31, 2024, PBCO reported total assets of $798.6 million and total deposits of $673.8 million.