PBCO Financial Corporation Reports Q3 2024 Earnings
PBCO Financial reported net income of $1.9 million and earnings per share of $0.36 for Q3 2024, up from $1.8 million and $0.33 per share in Q2 2024. Key highlights include:
- Net interest margin expanded to 3.51%, marking the fourth consecutive quarter of growth
- Total deposits increased by 2.2% compared to the previous quarter
- Tangible book value per share rose to $15.67 from $14.56
- Return on Average Assets improved to 0.97% from 0.90%
The bank saw growth in core deposits and paid off remaining FHLB borrowings. Non-interest income increased slightly, while non-interest expenses decreased. The Tier 1 Capital Ratio for PBCO Financial was 11.88% with total shareholder equity of $86.9 million as of September 30, 2024.
PBCO Financial ha riportato un utile netto di 1,9 milioni di dollari e utili per azione di 0,36 dollari per il terzo trimestre 2024, in aumento rispetto a 1,8 milioni di dollari e 0,33 dollari per azione nel secondo trimestre 2024. I principali punti salienti includono:
- Il margine di interesse netto è aumentato a 3,51%, segnando il quarto trimestre consecutivo di crescita
- I depositi totali sono aumentati del 2,2% rispetto al trimestre precedente
- Il valore contabile tangibile per azione è salito a 15,67 dollari da 14,56 dollari
- Il ritorno sulle attività medie è migliorato a 0,97% da 0,90%
La banca ha registrato una crescita nei depositi core e ha saldato i restanti prestiti FHLB. Il reddito non da interesse è aumentato leggermente, mentre le spese non da interesse sono diminuite. Il rapporto di capitale Tier 1 per PBCO Financial era 11,88% con un patrimonio netto totale di 86,9 milioni di dollari al 30 settembre 2024.
PBCO Financial informó un ingreso neto de 1,9 millones de dólares y ganancias por acción de 0,36 dólares para el tercer trimestre de 2024, un aumento desde 1,8 millones de dólares y 0,33 dólares por acción en el segundo trimestre de 2024. Los aspectos destacados incluyen:
- El margen de interés neto se expandió a 3,51%, marcando el cuarto trimestre consecutivo de crecimiento
- Los depósitos totales aumentaron un 2,2% en comparación con el trimestre anterior
- El valor contable tangible por acción subió a 15,67 dólares desde 14,56 dólares
- El retorno sobre activos promedio mejoró a 0,97% desde 0,90%
El banco vio un crecimiento en los depósitos centrales y pagó el resto de los préstamos FHLB. Los ingresos no por intereses aumentaron ligeramente, mientras que los gastos no por intereses disminuyeron. El ratio de capital de Nivel 1 de PBCO Financial era de 11,88% con un patrimonio total de 86,9 millones de dólares al 30 de septiembre de 2024.
PBCO Financial은 2024년 3분기에 190만 달러의 순이익과 주당 0.36달러의 earnings per share를 보고했으며, 이는 2024년 2분기 180만 달러 및 0.33달러에서 증가한 수치입니다. 주요 사항은 다음과 같습니다:
- 순이자 마진이 3.51%로 확대되어 4분기 연속 성장
- 총 예금이 이전 분기 대비 2.2% 증가
- 주당 장부가치가 15.67달러에서 14.56달러로 상승
- 평균 자산 수익률이 0.97%에서 0.90%로 개선됨
은행은 핵심 예금에서 성장을 보였고 남은 FHLB 차입금을 상환했습니다. 비이자 수익이 약간 증가한 반면, 비이자 비용은 감소했습니다. PBCO Financial의 Tier 1 자본 비율은 2024년 9월 30일 기준으로 11.88%이며, 총 주주 자본은 8690만 달러입니다.
PBCO Financial a rapporté un revenu net de 1,9 million de dollars et bénéfice par action de 0,36 dollar pour le 3ème trimestre 2024, en hausse par rapport à 1,8 million de dollars et 0,33 dollar par action au 2ème trimestre 2024. Les principaux points forts incluent :
- La marge d'intérêt nette s'est élevée à 3,51%, marquant le quatrième trimestre consécutif de croissance
- Les dépôts totaux ont augmenté de 2,2% par rapport au trimestre précédent
- La valeur comptable tangible par action est passée à 15,67 dollars contre 14,56 dollars
- Le retour sur actifs moyens s'est amélioré à 0,97% contre 0,90%
La banque a connu une croissance des dépôts principaux et a remboursé les prêts restants à la FHLB. Les revenus non liés aux intérêts ont légèrement augmenté, tandis que les charges non liées aux intérêts ont diminué. Le ratio de capital de Tier 1 de PBCO Financial était de 11,88% avec un total des capitaux propres s'élevant à 86,9 millions de dollars au 30 septembre 2024.
PBCO Financial berichtete von einem Nettogewinn von 1,9 Millionen Dollar und Gewinn pro Aktie von 0,36 Dollar für das 3. Quartal 2024, ein Anstieg von 1,8 Millionen Dollar und 0,33 Dollar pro Aktie im 2. Quartal 2024. Zu den wichtigsten Höhepunkten gehören:
- Der Nettomargenbetrag wurde auf 3,51% erweitert, was das vierte aufeinanderfolgende Quartal des Wachstums markiert
- Die Gesamteinlagen stiegen im Vergleich zum vorherigen Quartal um 2,2%
- Der greifbare Buchwert pro Aktie stieg auf 15,67 Dollar von 14,56 Dollar
- Die Rendite auf das durchschnittliche Vermögen verbesserte sich auf 0,97% von 0,90%
Die Bank verzeichnete ein Wachstum bei den Kernanlagen und tilgte die verbleibenden FHLB-Kredite. Die nicht-zinsbezogenen Einnahmen stiegen leicht, während die nicht-zinsbezogenen Ausgaben sanken. Die Tier-1-Kapitalquote von PBCO Financial betrug am 30. September 2024 11,88% bei einem Gesamtaktionärskapital von 86,9 Millionen Dollar.
- Net income increased to $1.9 million from $1.8 million in the previous quarter
- Earnings per share rose to $0.36 from $0.33 in Q2 2024
- Net interest margin expanded by 2 basis points to 3.51%
- Total deposits grew by 2.2% during Q3 and 5.3% year-to-date
- Tangible book value per share increased to $15.67 from $14.56
- Return on Average Assets improved to 0.97% from 0.90%
- Non-interest income increased by $57 thousand from Q2 2024
- Non-interest expenses decreased by $71 thousand from the previous quarter
- Tier 1 Capital Ratio for PBCO Financial improved to 11.88% from 11.62%
- Tangible Capital ratio increased to 10.55% from 9.80% in Q2 2024
- Investment portfolio decreased by 3.3% to $139.6 million
- $10.0 million AOCI book loss, though improved from $13.8 million in Q2
- $269 thousand provision for unfunded loan commitments
Highlights
-
Net interest margin of
3.51% which expanded by 2 basis points compared to prior quarter and represents the fourth consecutive quarter of margin expansion -
2.2% increase in total deposits compared to prior quarter -
Tangible book value per share increased to
, compared to$15.67 in the prior quarter$14.56 -
Return on Average Assets increased to
0.97% compared to0.90% in the prior quarter
“The Bank continued to show positive momentum in third quarter with increasing earnings per share and expansion of the net interest margin,” reported Julia Beattie, President & CEO. “We saw growth in core deposits and the Bank was able to pay off the remaining FHLB borrowings during the quarter, which helped improve our overall cost of funds. We continue to focus on risk management and driving improvement in profitability,” noted Beattie.
Total deposits grew
The investment portfolio decreased
Non-interest income was
Non-interest expenses totaled
As of September 30th, the Tier 1 Capital Ratio for PBCO Financial Corporation was
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
"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.
Consolidated Balance Sheets |
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(Dollars in 000's) |
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9/30/2024 |
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6/30/2024 |
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3/31/2024 |
|
12/31/2023 |
|
9/30/2023 |
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BALANCE SHEET |
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ASSETS | ||||||||||||||||||||
Cash and due from banks | $ |
5,563 |
|
$ |
4,679 |
|
$ |
5,592 |
|
$ |
6,926 |
|
$ |
4,502 |
|
|||||
Federal funds sold |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|||||
Interest bearing deposits |
|
21,015 |
|
|
16,125 |
|
|
13,303 |
|
|
13,127 |
|
|
15,732 |
|
|||||
Investment securities |
|
139,564 |
|
|
144,321 |
|
|
148,601 |
|
|
154,228 |
|
|
200,941 |
|
|||||
Loans held for sale |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
449 |
|
|||||
Loans held for investment, net of unearned income |
|
552,307 |
|
|
552,014 |
|
|
547,229 |
|
|
516,697 |
|
|
511,374 |
|
|||||
Total Loans, net of deferred fees and costs |
|
552,307 |
|
|
552,014 |
|
|
547,229 |
|
|
516,697 |
|
|
511,823 |
|
|||||
Allowance for loan losses |
|
(6,190 |
) |
|
(6,066 |
) |
|
(6,029 |
) |
|
(5,863 |
) |
|
(5,656 |
) |
|||||
Premises and equipment, net |
|
28,626 |
|
|
27,752 |
|
|
29,727 |
|
|
30,001 |
|
|
30,334 |
|
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Bank owned life insurance |
|
17,082 |
|
|
16,911 |
|
|
16,777 |
|
|
16,637 |
|
|
16,479 |
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|||||
Other Assets |
|
29,162 |
|
|
32,301 |
|
|
33,550 |
|
|
31,524 |
|
|
36,961 |
|
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Total assets | $ |
787,129 |
|
$ |
788,037 |
|
$ |
788,750 |
|
$ |
763,277 |
|
$ |
811,116 |
|
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LIABILITIES | ||||||||||||||||||||
Deposits | ||||||||||||||||||||
Demand - non-interest bearing | $ |
275,838 |
|
$ |
269,634 |
|
$ |
256,558 |
|
$ |
272,945 |
|
$ |
292,230 |
|
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Demand - interest bearing |
|
170,685 |
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|
167,421 |
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|
165,547 |
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|
142,043 |
|
|
131,603 |
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Money market and savings |
|
201,703 |
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|
195,359 |
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|
187,329 |
|
|
186,875 |
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|
187,952 |
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Time deposits of less than |
|
10,392 |
|
|
10,282 |
|
|
16,697 |
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|
16,771 |
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|
20,530 |
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Time deposits of more than |
|
4,631 |
|
|
5,991 |
|
|
9,420 |
|
|
11,147 |
|
|
9,685 |
|
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Total deposits | $ |
663,249 |
|
$ |
648,687 |
|
$ |
635,551 |
|
$ |
629,781 |
|
$ |
642,000 |
|
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Borrowed funds |
|
28,980 |
|
|
50,426 |
|
|
67,517 |
|
|
49,756 |
|
|
86,190 |
|
|||||
Other liabilities |
|
8,140 |
|
|
7,929 |
|
|
7,067 |
|
|
6,151 |
|
|
11,545 |
|
|||||
Total liabilities | $ |
700,369 |
|
$ |
707,042 |
|
$ |
710,135 |
|
$ |
685,688 |
|
$ |
739,735 |
|
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STOCKHOLDERS' EQUITY | ||||||||||||||||||||
Common stock, surplus & retained earnings | $ |
96,769 |
|
$ |
94,837 |
|
$ |
93,076 |
|
$ |
91,399 |
|
$ |
95,516 |
|
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Accumulated other comprehensive income, net of tax |
|
(10,009 |
) |
|
(13,842 |
) |
|
(14,461 |
) |
|
(13,810 |
) |
|
(24,135 |
) |
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Total stockholders' equity | $ |
86,760 |
|
$ |
80,995 |
|
$ |
78,615 |
|
$ |
77,589 |
|
$ |
71,381 |
|
|||||
Total liabilities & stockholders' equity | $ |
787,129 |
|
$ |
788,037 |
|
$ |
788,750 |
|
$ |
763,277 |
|
$ |
811,116 |
|
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Consolidated Statements of Income |
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(Dollars in 000's) |
3rd Quarter
|
2nd Quarter
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1st Quarter
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4th Quarter
|
3rd Quarter
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INCOME STATEMENT |
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INTEREST INCOME | ||||||||||||||||||||
Loans | $ |
8,397 |
|
$ |
8,271 |
|
$ |
7,907 |
|
$ |
7,399 |
|
$ |
7,071 |
|
|||||
Investments |
|
557 |
|
|
584 |
|
|
621 |
|
|
766 |
|
|
880 |
|
|||||
Federal funds sold and due from banks |
|
292 |
|
|
181 |
|
|
133 |
|
|
195 |
|
|
312 |
|
|||||
Total interest income |
|
9,246 |
|
|
9,036 |
|
|
8,661 |
|
|
8,360 |
|
|
8,263 |
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INTEREST EXPENSE | ||||||||||||||||||||
Deposits |
|
2,582 |
|
|
2,276 |
|
|
2,121 |
|
|
1,885 |
|
|
1,580 |
|
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Borrowed funds |
|
342 |
|
|
575 |
|
|
676 |
|
|
794 |
|
|
997 |
|
|||||
Total interest expense |
|
2,924 |
|
|
2,851 |
|
|
2,797 |
|
|
2,679 |
|
|
2,577 |
|
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NET INTEREST INCOME |
|
6,322 |
|
|
6,185 |
|
|
5,864 |
|
|
5,681 |
|
|
5,686 |
|
|||||
Provision for loan losses |
|
149 |
|
|
52 |
|
|
175 |
|
|
286 |
|
|
252 |
|
|||||
Net interest income after provision for loan losses |
|
6,173 |
|
|
6,133 |
|
|
5,689 |
|
|
5,395 |
|
|
5,434 |
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NONINTEREST INCOME | ||||||||||||||||||||
Service charges |
|
113 |
|
|
118 |
|
|
124 |
|
|
115 |
|
|
119 |
|
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Mortgage lending income |
|
- |
|
|
- |
|
|
- |
|
|
183 |
|
|
252 |
|
|||||
Steelhead finance income |
|
1,185 |
|
|
1,181 |
|
|
1,202 |
|
|
1,192 |
|
|
1,224 |
|
|||||
BOLI Income |
|
137 |
|
|
134 |
|
|
134 |
|
|
155 |
|
|
124 |
|
|||||
Other non-interest income |
|
572 |
|
|
517 |
|
|
503 |
|
|
633 |
|
|
523 |
|
|||||
Total noninterest income |
|
2,007 |
|
|
1,950 |
|
|
1,963 |
|
|
2,278 |
|
|
2,242 |
|
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NONINTEREST EXPENSE | ||||||||||||||||||||
Salaries and employee benefits |
|
3,220 |
|
|
3,374 |
|
|
3,374 |
|
|
3,804 |
|
|
3,332 |
|
|||||
Occupancy & equipment expense |
|
800 |
|
|
906 |
|
|
881 |
|
|
899 |
|
|
902 |
|
|||||
Advertising expense |
|
92 |
|
|
118 |
|
|
86 |
|
|
115 |
|
|
118 |
|
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Professional expenses |
|
175 |
|
|
260 |
|
|
234 |
|
|
206 |
|
|
194 |
|
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Data processing expense |
|
336 |
|
|
338 |
|
|
316 |
|
|
355 |
|
|
322 |
|
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Loss on sale of investments |
|
- |
|
|
- |
|
|
- |
|
|
6,814 |
|
|
- |
|
|||||
Other operating expenses |
|
1,003 |
|
|
701 |
|
|
493 |
|
|
724 |
|
|
706 |
|
|||||
Total noninterest expense |
|
5,626 |
|
|
5,697 |
|
|
5,384 |
|
|
12,917 |
|
|
5,574 |
|
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Income before taxes |
|
2,554 |
|
|
2,386 |
|
|
2,268 |
|
|
(5,244 |
) |
|
2,102 |
|
|||||
Provision for income taxes |
|
622 |
|
|
625 |
|
|
590 |
|
|
(1,338 |
) |
|
544 |
|
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NET INCOME | $ |
1,932 |
|
$ |
1,761 |
|
$ |
1,678 |
|
$ |
(3,906 |
) |
$ |
1,558 |
|
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Shares Outstanding End of Quarter |
|
5,298,464 |
|
|
5,307,057 |
|
|
5,328,535 |
|
|
5,327,035 |
|
|
5,325,535 |
|
|||||
Average shares outstanding |
|
5,304,193 |
|
|
5,321,376 |
|
|
5,328,035 |
|
|
5,326,035 |
|
|
5,325,535 |
|
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Earnings per share | $ |
0.36 |
|
$ |
0.33 |
|
$ |
0.31 |
|
$ |
(0.73 |
) |
$ |
0.29 |
|
(Dollars in 000's) | 9/30/2024 |
|
6/30/2024 |
|
3/31/2024 |
|
12/31/2023 |
|
9/30/2023 |
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Financial Highlights | ||||||||||||||||||||
Total portfolio loans | $ |
552,307 |
|
$ |
552,014 |
|
$ |
547,229 |
|
$ |
516,697 |
|
$ |
511,374 |
|
|||||
Total deposits | $ |
663,249 |
|
$ |
648,687 |
|
$ |
635,551 |
|
$ |
629,781 |
|
$ |
642,000 |
|
|||||
Total assets | $ |
787,129 |
|
$ |
788,037 |
|
$ |
788,750 |
|
$ |
763,277 |
|
$ |
811,116 |
|
|||||
Net income | $ |
1,932 |
|
$ |
1,761 |
|
$ |
1,678 |
|
$ |
(3,906 |
) |
$ |
1,558 |
|
|||||
Performance Ratios | ||||||||||||||||||||
Return on average assets |
|
0.97 |
% |
|
0.90 |
% |
|
0.85 |
% |
|
-1.97 |
% |
|
0.76 |
% |
|||||
Return on average equity |
|
9.26 |
% |
|
8.90 |
% |
|
8.60 |
% |
|
-22.02 |
% |
|
8.53 |
% |
|||||
Net interest margin |
|
3.51 |
% |
|
3.49 |
% |
|
3.31 |
% |
|
3.19 |
% |
|
3.07 |
% |
|||||
Yield on loans |
|
6.17 |
% |
|
6.05 |
% |
|
5.83 |
% |
|
5.68 |
% |
|
5.55 |
% |
|||||
Cost of deposits |
|
1.54 |
% |
|
1.41 |
% |
|
1.33 |
% |
|
1.16 |
% |
|
0.96 |
% |
|||||
Efficiency ratio |
|
67.55 |
% |
|
70.03 |
% |
|
68.79 |
% |
|
162.29 |
% |
|
70.31 |
% |
|||||
Efficiency ratio excluding non-recurring expenses |
|
67.55 |
% |
|
70.03 |
% |
|
68.79 |
% |
|
72.40 |
% |
|
70.31 |
% |
|||||
Full-time equivalent employees |
|
134 |
|
|
132 |
|
|
132 |
|
|
132 |
|
|
148 |
|
|||||
Capital | ||||||||||||||||||||
Tier 1 Capital Ratio |
|
11.88 |
% |
|
11.62 |
% |
|
11.38 |
% |
|
11.54 |
% |
|
11.36 |
% |
|||||
Community Bank Leverage Ratio |
|
13.71 |
% |
|
13.44 |
% |
|
13.18 |
% |
|
13.39 |
% |
|
13.01 |
% |
|||||
Book value per share | $ |
16.37 |
|
$ |
15.26 |
|
$ |
14.75 |
|
$ |
14.57 |
|
$ |
13.40 |
|
|||||
Tangible book value per share | $ |
15.67 |
|
$ |
14.56 |
|
$ |
14.05 |
|
$ |
13.86 |
|
$ |
12.70 |
|
|||||
Asset Quality | ||||||||||||||||||||
Allowance for loan losses (ALLL) | $ |
6,190 |
|
$ |
6,066 |
|
$ |
5,782 |
|
$ |
4,873 |
|
$ |
5,656 |
|
|||||
Nonperforming loans (NPLs) | $ |
2,225 |
|
$ |
1,127 |
|
$ |
412 |
|
$ |
733 |
|
$ |
427 |
|
|||||
Nonperforming assets (NPAs) | $ |
2,225 |
|
$ |
1,127 |
|
$ |
618 |
|
$ |
939 |
|
$ |
713 |
|
|||||
Classified assets(2) | $ |
9,493 |
|
$ |
8,775 |
|
$ |
6,442 |
|
$ |
6,549 |
|
$ |
5,800 |
|
|||||
ALLL as a percentage of net loans |
|
1.12 |
% |
|
1.10 |
% |
|
1.06 |
% |
|
0.94 |
% |
|
1.11 |
% |
|||||
ALLL as a percentage of NPLs |
|
278 |
% |
|
538 |
% |
|
1403 |
% |
|
665 |
% |
|
1325 |
% |
|||||
Net charge offs (recoveries) to average loans |
|
0.00 |
% |
|
0.00 |
% |
|
0.00 |
% |
|
0.01 |
% |
|
0.01 |
% |
|||||
Net NPLs as a percentage of total loans |
|
0.41 |
% |
|
0.21 |
% |
|
0.08 |
% |
|
0.14 |
% |
|
0.08 |
% |
|||||
Nonperforming assets as a percentage of total assets |
|
0.28 |
% |
|
0.14 |
% |
|
0.08 |
% |
|
0.12 |
% |
|
0.09 |
% |
|||||
Classified Asset Ratio(3) |
|
10.21 |
% |
|
10.08 |
% |
|
7.61 |
% |
|
7.85 |
% |
|
7.53 |
% |
|||||
Past due as a percentage of total loans |
|
0.46 |
% |
|
0.46 |
% |
|
0.55 |
% |
|
0.14 |
% |
|
0.08 |
% |
|||||
End of period balances | ||||||||||||||||||||
Total securities and short term deposits | $ |
160,579 |
|
$ |
160,446 |
|
$ |
161,904 |
|
$ |
167,355 |
|
$ |
216,673 |
|
|||||
Total loans, net of allowance | $ |
546,117 |
|
$ |
545,948 |
|
$ |
541,200 |
|
$ |
510,834 |
|
$ |
506,167 |
|
|||||
Total earning assets | $ |
712,886 |
|
$ |
712,460 |
|
$ |
709,133 |
|
$ |
684,052 |
|
$ |
728,496 |
|
|||||
Intangible Assets | $ |
3,717 |
|
$ |
3,729 |
|
$ |
3,741 |
|
$ |
3,753 |
|
$ |
3,766 |
|
|||||
Total assets | $ |
787,129 |
|
$ |
788,037 |
|
$ |
788,750 |
|
$ |
763,277 |
|
$ |
811,116 |
|
|||||
Total noninterest bearing deposits | $ |
275,838 |
|
$ |
269,634 |
|
$ |
256,558 |
|
$ |
272,945 |
|
$ |
292,230 |
|
|||||
Total deposits | $ |
663,249 |
|
$ |
648,687 |
|
$ |
635,551 |
|
$ |
629,781 |
|
$ |
642,000 |
|
|||||
Average balances | ||||||||||||||||||||
Total securities and short term deposits | $ |
170,092 |
|
$ |
159,413 |
|
$ |
165,584 |
|
$ |
201,788 |
|
$ |
241,049 |
|
|||||
Total loans, net of allowance | $ |
544,610 |
|
$ |
547,139 |
|
$ |
536,255 |
|
$ |
504,002 |
|
$ |
493,314 |
|
|||||
Total earning assets | $ |
714,702 |
|
$ |
706,552 |
|
$ |
701,839 |
|
$ |
705,790 |
|
$ |
734,363 |
|
|||||
Total assets | $ |
796,086 |
|
$ |
785,232 |
|
$ |
787,127 |
|
$ |
794,196 |
|
$ |
821,162 |
|
|||||
Total noninterest bearing deposits | $ |
266,179 |
|
$ |
254,771 |
|
$ |
255,204 |
|
$ |
273,413 |
|
$ |
291,470 |
|
|||||
Total deposits | $ |
670,056 |
|
$ |
647,351 |
|
$ |
642,420 |
|
$ |
643,015 |
|
$ |
657,331 |
|
(1) |
Effective March 31, 2020, People's Bank of Commerce opted into the Community Bank Leverage Ratio and is no longer calculating risk based capital ratios. |
||
(2) |
Classified assets are defined as the sum of all loan-related contingent liabilities and loans internally graded substandard or worse, impaired loans (net of government guarantees), adversely classified securities, and other real estate owned. |
||
(3) |
Classified asset ratio is defined as the sum of all loan related contingent liabilities and loans internally graded substandard or worse, impaired loans (net of government guarantees), adversely classified securities, and other real estate owned, divided by bank Tier 1 capital, plus the allowance for loan losses. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20241016835601/en/
Julia Beattie, President & CEO
(541) 608-8920, julia.beattie@peoplesbank.bank
Source: PBCO Financial Corporation
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