Welcome to our dedicated page for PCB Bancorp news (Ticker: PCB), a resource for investors and traders seeking the latest updates and insights on PCB Bancorp stock.
PCB Bancorp Common Stock (symbol: PCB) represents the equity stake in PCB Bancorp, a prominent bank holding company. The company is dedicated to delivering comprehensive consumer and commercial banking services with a strong focus on the Asian-American community, particularly the Korean-American segment. Founded to meet the banking needs of small and medium-sized enterprises and real estate investors, PCB Bancorp has grown to become a leading financial institution in this niche.
PCB Bancorp's core business includes providing personal and business banking services, loan products, and digital banking tools. The services cater to a wide range of financial needs, from simple deposit accounts to complex commercial property loans and small business lines of credit. The company is known for its personalized approach to banking, which helps foster strong relationships with its clients.
In recent years, PCB Bancorp has achieved significant milestones, including expanding its service portfolio and strengthening its financial position. The company has successfully navigated the economic challenges posed by the global pandemic, maintaining a robust balance sheet and continuing to support its clients.
PCB Bancorp's current projects include enhancing its digital banking infrastructure to offer more seamless and efficient services. The company is also focused on broadening its market reach while maintaining its commitment to the communities it serves. Strategic partnerships and innovative financial products are at the forefront of PCB Bancorp's growth strategy.
For investors, PCB Bancorp represents a stable and growing financial institution with a strong community focus. The company’s performance on the stock market reflects its solid financial foundation and strategic vision for sustainable growth.
PCB Bancorp reported Q3 2024 net income of $7.5 million, or $0.52 per diluted share, up from $6.1 million ($0.43/share) in Q2 2024 and $7.0 million ($0.49/share) in Q3 2023. Net interest income was $22.7 million with a net interest margin of 3.25%. Total assets reached $2.89 billion, up 12.5% year-over-year. Loans held-for-investment increased to $2.47 billion, up 13.8% from Q3 2023, while total deposits grew to $2.46 billion, a 12.2% year-over-year increase. The bank maintained an Allowance for Credit Losses ratio of 1.17%.
PCB Bancorp (NASDAQ: PCB) has announced a quarterly cash dividend of $0.18 per common share. The dividend will be paid on November 15, 2024, to shareholders of record as of November 8, 2024. PCB Bancorp operates through PCB Bank, a California state chartered bank, providing commercial banking services to small and medium-sized businesses, individuals, and professionals, with a focus on Korean-American and other minority communities in Southern California.
PCB Bancorp (NASDAQ: PCB) has extended its stock repurchase program until August 1, 2025. The original plan, approved on August 2, 2023, authorized the repurchase of up to 720,000 shares (approximately 5% of outstanding shares). As of July 24, 2024, the company has repurchased and retired 142,223 shares, leaving 577,777 shares available for repurchase. The program allows for various repurchase methods, including open market transactions and privately negotiated deals. PCB Bancorp plans to implement a Rule 10b5-1 trading plan to facilitate repurchases during periods when insider trading restrictions might otherwise apply. The repurchase program's execution depends on factors such as stock price, trading volume, and market conditions.
PCB Bancorp (NASDAQ: PCB) reported a Q2 2024 net income of $6.3 million or $0.43 per diluted share, up from $4.7 million or $0.33 per share in Q1 2024, but down from $7.5 million or $0.52 per share in Q2 2023.
Key metrics:
- Provision for credit losses: $259K, down from $1.1M in Q1 2024
- Net interest income: $21.7M, steady QoQ
- Total assets: $2.85B, a slight decline QoQ but up 11.6% YoY
- Loans held-for-investment: $2.45B, up 2.1% QoQ
- Total deposits: $2.41B, a minor increase QoQ
- Allowance for Credit Losses (ACL): 1.17%, stable YoY
The company paid an initial preferred stock dividend at an annualized rate of 2% (totaling $142K).
PCB Bancorp (NASDAQ: PCB), the holding company of PCB Bank, has declared a quarterly cash dividend of $0.18 per common share. The dividend will be paid on or about August 16, 2024, to shareholders of record as of the close of business on August 9, 2024. PCB Bank is a California state chartered bank offering commercial banking services to small to medium-sized businesses, individuals, and professionals, primarily in Southern California. The bank predominantly serves Korean-American and other minority communities.
FAQ
What is the current stock price of PCB Bancorp (PCB)?
What is the market cap of PCB Bancorp (PCB)?
What does PCB Bancorp do?
Who does PCB Bancorp primarily serve?
What types of loans does PCB Bancorp offer?
What recent achievements has PCB Bancorp made?
How does PCB Bancorp support its clients?
What are PCB Bancorp's current projects?
Why is PCB Bancorp significant within the Korean-American community?
How has PCB Bancorp performed financially?
What strategic partnerships does PCB Bancorp have?
Is PCB Bancorp a good investment?
