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PB Financial Corporation (PBNC) is the holding company for Providence Bank, a community bank headquartered in Rocky Mount, North Carolina. As of March 31, 2024, the company reported total assets of $1.016 billion, total deposits of $805.0 million, and gross loans of $860.3 million. PB Financial recently completed a preferred stock offering and legal merger with Coastal Bank & Trust, enhancing its growth and commitment to providing value to its customers, employees, and shareholders.
PB Financial Corporation (OTCQX:PBNC) reported a net income of $4.33 million for Q4 2022, a 59.95% increase year-over-year. Full-year net income rose 45.16% to $14.25 million. Total assets reached $849.2 million, marking a 21.06% growth compared to 2021. Deposits grew 17.61% to $674 million, while gross loans climbed 24.89% to $687.7 million. Basic earnings per share increased 43.62% to $6.42, with a book value of $29.93. The company declared a cash dividend of $1.23 per share, up 21.78% from 2021.
PB Financial Corporation (OTCQX:PBNC) has announced a quarterly cash dividend of $0.35 per share, marking a 29.63% increase from last year's fourth quarter. Shareholders of record by November 7, 2022 will receive the dividend on November 25, 2022. This dividend reflects the company's commitment to enhancing shareholder value, having paid dividends consistently for 44 quarters and achieving a total annual dividend of $1.40, resulting in a yield of 3.45% based on the closing price of $40.55.
PB Financial Corporation (OTCQX:PBNC) reported a net income of $3,970,996 for Q3 2022, marking a 58.64% increase from $2,503,174 in Q3 2021. For the nine months ending September 30, 2022, net income rose by 39.54% to $9,924,497. Total assets grew by 15.81% to $780.2 million, with deposits at $616.5 million and loans at $617.3 million, reflecting increases of 13.90% and 18.31%, respectively. Basic earnings per share also increased by 38.27% to $4.48. The book value per share slightly decreased to $28.52.
PB Financial Corporation (OTCQX:PBNC) reported a net income of $3.24 million for Q2 2022, up 31.92% from $2.46 million in Q2 2021. For the six months ending June 30, 2022, net income rose by 29.18% to $5.95 million. Total assets increased 19.54% to $784.4 million, while total deposits and gross loans surged by 22.36% and 16.47%, respectively. Basic earnings per share rose 28.10% to $2.69. A quarterly dividend of $0.31 per share will be paid on August 22, 2022.
PB Financial Corporation (OTCQX:PBNC) has declared a quarterly cash dividend of $0.31 per share, marking a 19.23% increase from the previous year. Shareholders on record by August 1, 2022, will receive the dividend on August 22, 2022. This dividend translates to an annual yield of 3.20% based on its closing price of $38.75 on July 6, 2022. With this announcement, PB Financial celebrates its 43rd consecutive quarterly dividend, reflecting consistent financial performance since 2012.
PB Financial Corporation (OTCQX:PBNC) declared a quarterly cash dividend of $0.29 per share, reflecting a 16% increase from the previous year. Shareholders on record by May 11, 2022, will receive the dividend on May 26, 2022. This marks the 42nd consecutive quarterly dividend since the start of their dividend program in 2012, showcasing a commitment to enhancing shareholder value. With total assets of $743.9 million as of March 31, 2022, the company maintains a dividend yield of approximately 3.01%.
PB Financial Corporation (OTCQX:PBNC) reported a 26% increase in net income for Q1 2022, totaling $2,709,595, compared to $2,150,425 in Q1 2021. Total assets grew by 20.45% to $743.9 million, with total deposits increasing 24.51% to $603.3 million and gross loans up 12.32% to $557.0 million. Basic earnings per share rose to $1.23 from $0.98. The bank distributed a dividend of $0.28 per share, marking the 41st consecutive increase in quarterly cash dividends.
PB Financial Corporation has declared a quarterly cash dividend of $0.28 per share for shareholders of record by February 8, 2022, payable on February 24, 2022. This marks a 21.74% increase from the previous year, translating to an annual dividend of $1.12 and a yield of 2.81% based on a closing share price of $39.80 on January 31, 2022. President and CEO Ted E. Whitehurst emphasized the significance of this dividend as part of their strategy to enhance shareholder value.
PB Financial Corporation (OTCQX:PBNC) announced the completion of a $12 million private placement of subordinated notes on January 27, 2022. The proceeds will support organic growth, potential acquisitions, and general corporate purposes, including investments in its banking subsidiary, Providence Bank. The notes carry an initial interest rate of 3.50% per annum until February 1, 2027, after which the interest rate will adjust quarterly. The offering is intended to qualify as Tier 2 capital for regulatory purposes.
PB Financial Corporation (OTCQX:PBNC) reported strong financial results for the fourth quarter and full year ending December 31, 2021. Net income soared to $2.7 million for Q4 2021, a 43% increase from $1.9 million in Q4 2020. For the full year, net income reached $9.8 million, up 44% year-over-year. Total assets grew 19.58% to $701.4 million, while total deposits and gross loans rose by 25.57% and 18.62% respectively. Basic earnings per share were $4.47, a 44.66% increase from $3.09 in 2020. The company also raised cash dividends by 20.96%.
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