PB FINANCIAL CORPORATION - PBNC STOCK NEWS

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.

PB Financial (PBNC) completes merger with Coastal Bank & Trust, creating a community bank with $1.2 billion in assets. Shareholders can choose $10 cash or 0.2222 PB Financial stock for each Coastal share. The transaction valued at $25.8 million is expected to be immediately accretive to earnings.

PB Financial successfully completes a private placement of $17.4 million preferred stock, showing strong community support. The company plans to use the proceeds for franchise growth and general corporate purposes.

PB Financial Corporation (PBNC) announced a 30% increase in their quarterly cash dividend to $0.52 per share, representing a $2.08 annual dividend and a 4.97% yield. The company has consistently increased its cash dividend every quarter since 2012, reflecting strong financial performance. With total assets of $982.4 million, loans of $827.8 million, and total deposits of $803.5 million as of December 31, 2023, PB Financial Corporation is focused on enhancing shareholder value.