PB Financial Corporation Reports Earnings For Both The Fourth Quarter And The Year 2024
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) ha riportato risultati finanziari solidi per il IV trimestre e per l'intero anno 2024. L'utile netto disponibile per gli azionisti ordinari ha raggiunto $3,937,492 nel IV trimestre 2024, in aumento del 16,99% rispetto al IV trimestre 2023, mentre l'utile netto per l'intero anno 2024 è cresciuto del 13,64% a $15,814,872.
L'azienda ha dimostrato una crescita significativa in metriche chiave, con attivi totali aumentati del 34,08% a $1,317 miliardi, depositi aumentati del 38,78% a $1,115 miliardi e prestiti lordi cresciuti del 36,43% a $1,129 miliardi rispetto al 2023. L'azienda ha completato con successo la fusione con Coastal Bank & Trust, sostenendo spese una tantum legate alla fusione di $937,420.
L'utile per azione di base è diminuito del 4,01% a $5,74 nel 2024, rispetto a $5,98 nel 2023. L'azienda ha mantenuto la sua tradizione di pagamento dei dividendi, aumentando i dividendi trimestrali a $2,15 per azione nel 2024, un incremento del 15,59% rispetto al 2023.
PB Financial (OTCQX:PBNC) informó resultados financieros sólidos para el cuarto trimestre y el año completo 2024. La renta neta disponible para los accionistas comunes alcanzó $3,937,492 en el cuarto trimestre de 2024, un aumento del 16.99% con respecto al cuarto trimestre de 2023, mientras que la renta neta para el año completo 2024 creció un 13.64% hasta $15,814,872.
La compañía demostró un crecimiento significativo en métricas clave, con activos totales que aumentaron un 34.08% hasta $1.317 mil millones, depósitos que subieron un 38.78% hasta $1.115 mil millones y préstamos brutos que crecieron un 36.43% hasta $1.129 mil millones en comparación con 2023. La empresa completó con éxito su fusión con Coastal Bank & Trust, incurriendo en gastos únicos relacionados con la fusión de $937,420.
Las ganancias básicas por acción disminuyeron un 4.01% a $5.74 en 2024, en comparación con $5.98 en 2023. La compañía mantuvo su historial de pagos de dividendos, incrementando los dividendos trimestrales a $2.15 por acción en 2024, lo que representa un aumento del 15.59% respecto a 2023.
PB Financial (OTCQX:PBNC)는 2024년 4분기 및 연간 재무 결과가 강력하다고 보고했습니다. 2024년 4분기 일반 주주에게 소유 가능한 순이익은 $3,937,492에 달해 2023년 4분기 대비 16.99% 증가했으며, 2024년 연간 순이익은 13.64% 증가하여 $15,814,872에 이릅니다.
회사는 주요 지표에서 상당한 성장을 보여주었으며, 총 자산이 34.08% 증가하여 $1.317억 달러, 예금이 38.78% 증가하여 $1.115억 달러, 총 대출이 36.43% 증가하여 $1.129억 달러에 달했습니다. 회사는 Coastal Bank & Trust와의 합병을 성공적으로 완료했으며, 합병 관련 일회성 비용으로 $937,420을 부담했습니다.
기본 주당 순이익은 2024년에 $5.74로 4.01% 감소했으며, 이는 2023년에 비해 $5.98였습니다. 회사는 배당금 지급 이력을 유지하며 2024년에는 분기별 배당금을 주당 $2.15로 늘렸고, 이는 2023년에 비해 15.59% 증가한 수치입니다.
PB Financial (OTCQX:PBNC) a rapporté de solides résultats financiers pour le quatrième trimestre et pour l'année complète 2024. Le revenu net disponible pour les actionnaires ordinaires a atteint 3 937 492 $ au quatrième trimestre 2024, en hausse de 16,99 % par rapport au quatrième trimestre 2023, tandis que le revenu net sur l'année 2024 a augmenté de 13,64 % pour atteindre 15 814 872 $.
L'entreprise a affiché une croissance significative dans les indicateurs clés, avec un total d'actifs en hausse de 34,08 % à 1,317 milliard $, des dépôts en augmentation de 38,78 % à 1,115 milliard $ et des prêts bruts en hausse de 36,43 % à 1,129 milliard $ par rapport à 2023. La société a réussi à compléter sa fusion avec Coastal Bank & Trust, ayant engagé des dépenses uniques liées à la fusion de 937 420 $.
Le bénéfice de base par action a diminué de 4,01 % à 5,74 $ en 2024, contre 5,98 $ en 2023. L'entreprise a maintenu son historique de paiement de dividendes, augmentant les dividendes trimestriels à 2,15 $ par action en 2024, soit une augmentation de 15,59 % par rapport à 2023.
PB Financial (OTCQX:PBNC) berichtete über starke Finanzergebnisse für das vierte Quartal und das Gesamtjahr 2024. Der den Stammaktionären zur Verfügung stehende Nettogewinn erreichte im vierten Quartal 2024 $3,937,492, was einem Anstieg von 16,99% im Vergleich zum vierten Quartal 2023 entspricht, während der Nettogewinn für das Gesamtjahr 2024 um 13,64% auf $15,814,872 wuchs.
Das Unternehmen zeigte ein signifikantes Wachstum in wichtigen Kennzahlen, wobei die Gesamtaktiva um 34,08% auf $1,317 Milliarden zunahmen, die Einlagen um 38,78% auf $1,115 Milliarden stiegen und die Bruttokredite um 36,43% auf $1,129 Milliarden im Vergleich zu 2023 wuchsen. Das Unternehmen schloss erfolgreich die Fusion mit Coastal Bank & Trust ab und hatte einmalige, mit der Fusion verbundene Kosten von $937,420.
Der Basisgewinn pro Aktie fiel 2024 um 4,01% auf $5,74, verglichen mit $5,98 in 2023. Das Unternehmen hielt seine Dividendenzahlungstradition aufrecht und erhöhte die vierteljährlichen Dividenden auf $2,15 pro Aktie im Jahr 2024, was einem Anstieg von 15,59% im Vergleich zu 2023 entspricht.
- Net income grew 16.99% YoY in Q4 2024 to $3.94M
- Full-year net income increased 13.64% to $15.81M
- Total assets grew 34.08% to $1.317B
- Deposits increased 38.78% to $1.115B
- Gross loans rose 36.43% to $1.129B
- Cash dividend increased 15.59% to $2.15 per share
- Basic earnings per share decreased 4.01% to $5.74
- One-time merger-related expenses of $937,420
ROCKY MOUNT, NC / ACCESS Newswire / January 31, 2025 / Ted E. Whitehurst, President and CEO of PB Financial Corporation (OTCQX:PBNC), the holding company (the "Company") for Providence Bank, announced today that the Company reported net income available to common shareholders for the quarter ended December 31, 2024, of
As of December 31, 2024, the Company reported total assets of
Whitehurst commented, "I am pleased to report our quarterly and full year earnings. We were able to show double digit increases in our quarterly and annual net income available to shareholders. We successfully completed our merger with Coastal Bank & Trust and had a smooth integration for our customers. We incurred total one-time merger-related expenses of approximately
For 2024, the Company had basic earnings of
Providence Bank is a state-chartered community bank headquartered at 450 N. Winstead Avenue in Rocky Mount, North Carolina, with branches in Rocky Mount, Tarboro, Nashville, Wilson, Raleigh, Jacksonville, Holly Ridge, Morehead City and Richlands, as well as a loan production office in New Bern.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding PB Financial Corporation. Those statements may include but are not limited to statements regarding the Company's plans, objectives, expectations and intentions and other statements identified by words such as "believes," "considers," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects," "would be," and similar expressions. These statements are based upon current beliefs and expectations of management of PB Financial Corporation and are subject to significant risks and uncertainties. Actual or future results or events may differ from those set forth in the forward-looking statements. PB Financial Corporation does not undertake to update any forward-looking statements in this press release. The information as of and for the quarters ended December 31, 2024 and December 31, 2023 as presented is unaudited.
PB Financial Corporation
Consolidated Balance Sheets and Statements of Operations
Balance Sheets |
| December 31, |
|
| December 31, |
| ||
In Thousands |
| 2024 |
|
| 2023 |
| ||
Assets |
| (unaudited) |
|
|
| * |
| |
Cash and due from banks |
| $ | 11,445 |
|
| $ | 9,393 |
|
Interest-earning deposits with banks |
|
| 13,385 |
|
|
| 15,585 |
|
Investment securities |
|
| 114,048 |
|
|
| 98,045 |
|
Loans, gross |
|
| 1,129,337 |
|
|
| 827,803 |
|
Allowance for credit losses |
|
| (10,205 | ) |
|
| (6,743 | ) |
Intangible assets |
|
| 9,285 |
|
|
| 4,064 |
|
Other assets |
|
| 49,915 |
|
|
| 34,240 |
|
Total assets |
| $ | 1,317,210 |
|
| $ | 982,387 |
|
|
|
|
|
|
|
|
|
|
Liabilities and |
|
|
|
|
|
|
|
|
Stockholders' Equity |
|
|
|
|
|
|
|
|
Deposits |
| $ | 1,115,145 |
|
| $ | 803,536 |
|
Borrowed funds |
|
| 58,496 |
|
|
| 83,697 |
|
Other liabilities |
|
| 10,282 |
|
|
| 7,629 |
|
Shareholders' Equity |
|
| 133,287 |
|
|
| 87,525 |
|
Total liabilities and |
|
|
|
|
|
|
|
|
stockholders' equity |
| $ | 1,317,210 |
|
| $ | 982,387 |
|
|
|
|
|
|
|
|
|
|
Book value per share |
| $ | 39.63 |
|
| $ | 35.08 |
|
Tangible book value per share |
| $ | 34.72 |
|
| $ | 33.45 |
|
Statements of Operations |
| For the three months ended |
|
| For the twelve months ended |
| ||||||||||
In Thousands |
| December 31, |
|
| December 31, |
|
| December 31, |
|
| December 31, |
| ||||
| 2024 |
|
| 2023 |
|
| 2024 |
|
| 2023 |
| |||||
| (unaudited) |
|
| (unaudited) |
|
| (unaudited) |
|
| (unaudited) |
| |||||
Interest income |
| $ | 21,158 |
|
| $ | 14,608 |
|
| $ | 77,820 |
|
| $ | 53,067 |
|
Interest expense |
|
| 9,559 |
|
|
| 7,087 |
|
|
| 35,816 |
|
|
| 22,676 |
|
Net interest income |
|
| 11,599 |
|
|
| 7,521 |
|
|
| 42,004 |
|
|
| 30,391 |
|
Provision for credit losses |
|
| 1,600 |
|
|
| 242 |
|
|
| 1,955 |
|
|
| 955 |
|
Net interest income after |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
provision for credit losses |
|
| 9,999 |
|
|
| 7,279 |
|
|
| 40,049 |
|
|
| 29,436 |
|
Non interest income |
|
| 442 |
|
|
| 278 |
|
|
| 1,723 |
|
|
| 1,173 |
|
Non interest expense |
|
| 4,998 |
|
|
| 3,339 |
|
|
| 19,699 |
|
|
| 12,722 |
|
Income before income taxes |
|
| 5,443 |
|
|
| 4,218 |
|
|
| 22,073 |
|
|
| 17,887 |
|
Income tax expense |
|
| 1,192 |
|
|
| 852 |
|
|
| 5,156 |
|
|
| 3,971 |
|
Net income |
|
| 4,251 |
|
|
| 3,366 |
|
|
| 16,917 |
|
|
| 13,916 |
|
Preferred stock dividends |
|
| 314 |
|
|
| - |
|
|
| 1,102 |
|
|
| - |
|
Net income available to common stockholders |
| $ | 3,937 |
|
| $ | 3,366 |
|
| $ | 15,815 |
|
| $ | 13,916 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per common share - basic |
| $ | 1.37 |
|
| $ | 1.38 |
|
| $ | 5.74 |
|
| $ | 5.98 |
|
Net income per common share - diluted |
| $ | 1.32 |
|
| $ | 1.32 |
|
| $ | 5.52 |
|
| $ | 5.77 |
|
* Derived from audited financial statements
For more information, contact:
Ted E. Whitehurst, President and CEO
252-467-2990; twhitehurst@pbknc.com
SOURCE: PB Financial Corp.
View the original press release on ACCESS Newswire
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