Pb Finl - PBNC STOCK NEWS

PB Financial (OTCQX:PBNC) reported strong financial results for Q4 and full-year 2024. Net income available to common shareholders reached $3,937,492 in Q4 2024, up 16.99% from Q4 2023, while full-year 2024 net income grew 13.64% to $15,814,872.

The company demonstrated significant growth across key metrics, with total assets increasing 34.08% to $1.317 billion, deposits rising 38.78% to $1.115 billion, and gross loans growing 36.43% to $1.129 billion compared to 2023. The company successfully completed its merger with Coastal Bank & Trust, incurring one-time merger-related expenses of $937,420.

Basic earnings per share decreased 4.01% to $5.74 in 2024, compared to $5.98 in 2023. The company maintained its dividend payment track record, increasing quarterly dividends to $2.15 per share in 2024, a 15.59% increase from 2023.

PB Financial (OTCQX:PBNC) has been recognized in the 2025 OTCQX Best 50, securing the 21st position among top-performing companies on the OTCQX Best Market. The ranking evaluates companies based on their 2024 performance, considering one-year total return and average daily dollar volume growth.

As the only North Carolina-based bank among the eight banks featured on the list, PBNC's achievement highlights its strong market performance and commitment to investor value. The company, which operates as the holding company for Providence Bank, maintains its headquarters in Rocky Mount, North Carolina, with branches across multiple locations including Tarboro, Nashville, Wilson, Raleigh, Jacksonville, Holly Ridge, Morehead City, and Richlands, plus a loan production office in New Bern.

The OTCQX Best Market recognition requires companies to meet stringent financial standards, follow best practice corporate governance, and maintain compliance with applicable securities laws.

PB Financial (OTCQX:PBNC) has declared a quarterly cash dividend of $0.56 per share for Q4 2024, payable November 22, 2024, to shareholders of record as of November 5, 2024. This represents a 9.80% increase from Q4 2023's dividend. The annual dividend amounts to $2.24 per share, yielding 5.34% based on the October 25 closing price of $41.93. This marks the company's 52nd consecutive quarterly dividend. As of September 30, 2024, PB Financial reported total assets of $1.285 billion, loans of $1.086 billion, and deposits of $1.084 billion.

PB Financial (OTCQX:PBNC), the holding company for Providence Bank, reported record third quarter 2024 earnings. Net income available to common shareholders for Q3 2024 was $4.60 million, a 48.45% increase from $3.10 million in Q3 2023. For the nine-month period ended September 30, 2024, net income was $11.88 million, up 12.57% from the same period in 2023.

As of September 30, 2024, the Company reported:

• Total assets: $1.285 billion (38.22% increase YoY)
• Total deposits: $1.084 billion (48.61% increase YoY)
• Gross loans: $1.086 billion (40.17% increase YoY)
• Basic earnings per share: $4.37 (5.21% decrease YoY)
• Book value per common share: $39.70 (20.16% increase YoY)

The Company paid its 51st consecutively increased quarterly cash dividend of $0.54 per share on August 23, 2024.

PB Financial (OTCQX:PBNC), the parent company of Providence Bank, announced a quarterly cash dividend of $0.54 per share, a 8% increase from Q3 2023. The dividend will be paid on August 23, 2024, to shareholders recorded by August 2, 2024. This results in an annual dividend of $2.16 and a yield of 5.35%, based on a stock price of $40.35 as of July 10, 2024. This marks the 51st consecutive quarterly dividend since dividends began in Q1 2012. The company, headquartered in Rocky Mount, NC, reported total assets of $1.261 billion, loans of $1.066 billion, and deposits of $1.051 billion as of June 30, 2024.

PB Financial (OTCQX:PBNC) reported a net income available to common shareholders of $4.11 million for Q2 2024, up 9.89% from $3.74 million in Q2 2023. For the first half of 2024, net income was $7.28 million, down 2.33% from $7.45 million in the prior year, impacted by merger-related expenses totaling $811,738. The company’s total assets rose 43.45% to $1.261 billion, with total deposits increasing 50.54% to $1.051 billion and gross loans growing 49.47% to $1.066 billion. Earnings per share for the first half of 2024 fell 16.87% to $2.76, while book value per share increased 17.17% to $37.19. A dividend of $0.54 per share will be paid on August 23, 2024. The company successfully completed its merger with Coastal Bank & Trust in April, enhancing its financial performance.

PB Financial (OTCQX:PBNC), the holding company for Providence Bank, has appointed Dr. Vanessa J. Ervin to their Board of Directors following their merger with Coastal Bank & Trust, where she was a founding member. Dr. Ervin brings extensive experience in healthcare management, having led Carobell, a private healthcare provider, since 1991. She holds multiple advanced degrees and has received several awards for her contributions to healthcare. PB Financial reported total assets of $1.016 billion, loans of $860.3 million, and deposits of $805.0 million as of March 31, 2024.

PB Financial , the holding company for Providence Bank, has declared a second-quarter dividend of $0.53 per share on common stock, marking a 17.78% increase from the previous year. This is the 50th consecutive quarterly cash dividend, demonstrating consistent financial performance.

PB Financial , the holding company for Providence Bank, reported a decrease in net income available to common stockholders by 14.62% for the first quarter of 2024 compared to the same period in 2023. Total assets increased by 15.57% to $1.016 billion, with total deposits and gross loans also showing significant growth. The Company completed a preferred stock offering, raising $17.923 million, and surpassed $1 billion in assets for the first time in its history. The legal merger with Coastal Bank & Trust was finalized, with a systems conversion scheduled for May 17-19, 2024.