Pinnacle Bank - PBNK STOCK NEWS

Pinnacle Bank (OTCQB: PBNK) has restated its Q3 2024 financials, reporting unaudited net income of $244,000, down from $2,728,000 in Q3 2023. The decline was primarily due to a $2.4 million commercial loan charge-off. Total assets reached $891.4 million, up 6% year-over-year, while gross loans increased 14% to $614.6 million. Total deposits grew 5% to $780.9 million. The allowance for credit losses increased to 1.20% of net loans, with nonaccrual loans at $8.4 million compared to none in the previous year. The Bank maintains a total capital ratio of 15.35% with a book value per share of $16.32.

Pinnacle Bank (PBNK) reported unaudited net income of $1,909,000 for Q3 2024, down from $2,728,000 in Q3 2023. Total assets reached $893.1 million, up 6% year-over-year. Gross loans hit a record $617.0 million, increasing 15% from the previous year. Total deposits grew 5% to $780.9 million. The bank reported nonaccrual loans of $10.9 million, compared to none in Q3 2023. The bank maintains a strong capital position with a total capital ratio of 15.52% and a book value per share of $16.60.

Pinnacle Bank (OTCQB: PBNK) reported unaudited net income of $2,728,000 for Q2 2024, down from $2,870,000 in Q2 2023. The bank's total assets increased 6% to $849.5 million, while gross loans grew 11% to a record $597.6 million. Total deposits rose 5% to $740.9 million. The bank maintains a strong capital position with a total capital ratio of 15.10% and a book value per share of $16.14. Pinnacle Bank received high ratings from Bauer Financial, DepositAccounts.com, and The Findley Reports, reflecting its strong financial performance and stability in the face of economic challenges.

Pinnacle Bank (OTCQB: PBNK), announced the election of Edward J. Rossi as Vice Chairman of its Board of Directors, filling the vacancy left by the late Allen R. Greco. Rossi, CEO of Cal Door & Drawer and a founding member of the bank, has been a board member since 2006. He will serve on multiple committees, including Marketing, Directors Loan, Compensation, and as Chairman of the ALCO committee. Pinnacle Bank focuses on commercial banking services in Santa Clara, San Benito, and Monterey counties, with branches in Morgan Hill, Gilroy, Salinas, and Campbell.

Pinnacle Bank, headquartered in Gilroy, California, reported unaudited net income of $2,453,000 for the first quarter of 2024, compared to $2,723,000 in 2023. Total assets increased by 9% to $833.1 million, with gross loans reaching $576.8 million, a 9% increase from the previous year. Despite challenges like higher interest rates and inflation, the bank saw growth in loans and deposits, reflecting successful relationship banking strategies.

Pinnacle Bank (PBNK) announced record unaudited net income of $11,771,000 for the year ended December 31, 2023, marking a 39% increase from 2022. Total assets increased by 8% to $817.4 million, while gross loans saw an 11% increase to $564.4 million. The bank's capital position remains strong, with a total capital ratio of 14.64%. Pinnacle Bank received high ratings for strong financial performance from independent rating firms.

Pinnacle Bank announces unaudited net income of $2,926,000 for Q3 2023, a 17% increase from the same period last year. Total assets increase by 8% to $843.5 million. Gross loans increase by 11% to $538.4 million. Total deposits reach a record high of $746.6 million, a 7% increase.

Pinnacle Bank announced unaudited net income of $2,926,000 for Q3 2023, a 17% increase from the same period last year. Total assets increased by 8% to $843.5 million, while gross loans increased by 11% to $538.4 million. Total deposits reached a record $746.6 million, a 7% increase.

Pinnacle Bank announces unaudited net income of $2,870,000 for Q2 2023, a 79% increase from the same period last year. Total assets reach $800.0 million, a 2% increase. Gross loans hit a new record of $539.9 million, a 15% increase. Total deposits increase by 4% to $705.6 million. Bank remains well capitalized.