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 (NASDAQ: PCB) reported net income of $7.0 million, or $0.46 per diluted share for Q3 2022, down from $9.1 million in Q2 2022 and $11.0 million in Q3 2021. The bank's net interest income rose to $24.0 million, a 12.5% increase quarter-over-quarter. The provision for loan losses was $3.8 million, compared to a reversal of $109,000 in the previous quarter. Total assets decreased slightly to $2.33 billion, while loans held-for-investment increased by 6.9%. PCB Bank opened two new branches and announced plans for future expansion.
PCB Bancorp has declared a quarterly cash dividend of $0.15 per common share on October 27, 2022. This dividend is set to be paid on or about November 18, 2022, to shareholders holding shares as of the close of business on November 10, 2022. PCB Bancorp is the parent company of PCB Bank, which provides commercial banking services primarily to small to medium-sized businesses and individuals in Southern California, focusing on Korean-American and other minority communities.
PCB Bancorp announced a stock repurchase program on
PCB Bancorp (NASDAQ: PCB) announced a quarterly cash dividend of $0.15 per common share on July 28, 2022. The dividend will be distributed on or about August 19, 2022 to shareholders of record as of the close of business on August 12, 2022. PCB Bancorp operates Pacific City Bank, offering commercial banking services mainly to small to medium-sized businesses and minority communities in Southern California.
PCB Bancorp (NASDAQ: PCB) reported Q2 2022 net income of $9.1 million, or $0.60 per diluted share, down from $10.2 million in Q1 2022. Total assets rose to $2.34 billion, a 6.6% increase from Q1 2022. The bank reversed $109K in loan losses this quarter, a significant decline from the $1.2 million reversal in the previous quarter. Net interest income increased to $21.4 million with a net interest margin of 4.01%. Total deposits also grew by 4.6% to $2.00 billion. Effective August 25, 2022, Pacific City Bank will be rebranded as PCB Bank.
On May 24, 2022, PCB Bancorp received a $69.1 million capital investment from the U.S. Department of Treasury under the Emergency Capital Investment Program (ECIP). The investment was made through the issuance of 69,141 shares of Series C Preferred Stock, treated as tier 1 capital. The stock has no dividends for the first 24 months and will have an annual rate adjusted based on qualified lending thereafter. The Company can redeem the stock after five years with regulatory approval. PCB Bancorp focuses on serving small to medium-sized businesses, particularly in minority communities.
PCB Bancorp (NASDAQ: PCB) reported a net income of $10.2 million, or $0.67 per diluted share, for Q1 2022, a slight decrease from $10.7 million in Q4 2021 but an increase from $8.6 million in Q1 2021. Total assets rose to $2.20 billion, marking a 2.3% increase from the prior quarter and 7.3% year-over-year. The company saw an 8.1% annualized total loan growth and recorded net recoveries for the quarter. PCB plans to open three new branches, enhancing its growth trajectory in a challenging economic environment.
PCB Bancorp (NASDAQ: PCB) announced a quarterly cash dividend of
PCB Bancorp (NASDAQ: PCB) reported a net income of $10.7 million, or $0.70 per diluted share, for Q4 2021, down 3.1% from Q3 2021 but significantly up from $5.8 million in Q4 2020. Full-year net income rose to $40.1 million, a remarkable 147.9% increase year-over-year. The company reversed $1.5 million in loan loss provisions, reflecting improved credit quality, with non-performing loans at a low 0.06%. Total assets grew 2.1% quarter-over-quarter, reaching $2.15 billion. The bank also maintained a strong deposit base with total deposits at $1.87 billion.
PCB Bancorp (NASDAQ: PCB) announced a quarterly cash dividend increase to $0.15 per common share from $0.12, set to be paid on or about February 18, 2022. Shareholders on record by February 11, 2022 will receive this dividend. President and CEO Henry Kim emphasized the company's commitment to shareholder benefits, reflecting confidence in their business strategy. PCB Bancorp primarily serves small to medium-sized businesses and minority communities in Southern California.
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