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.
On December 14, 2021, the U.S. Department of Treasury informed PCB Bancorp that it is eligible for a capital investment up to $69,141,000 through the Emergency Capital Investment Program (ECIP). This investment aims to support community financial institutions, particularly those serving low- and moderate-income areas. PCB Bancorp has yet to decide on accepting this investment, which would require compliance with certain Treasury conditions and restrictions.
PCB Bancorp announced the appointment of Janice Chung to its Board of Directors, effective November 1, 2021. This appointment increases the Board's membership from eight to nine. Ms. Chung is currently the CEO of BIC Technologies Group, specializing in rare metal processing technology for global companies, particularly in South Korea and China. Her extensive background includes management consulting and international tax experience with PricewaterhouseCoopers. Chairman Sang Young Lee praised her entrepreneurial spirit and expertise in innovation-focused management.
PCB Bancorp (NASDAQ: PCB) reported a strong Q3 2021, with net income of $11.0 million ($0.73/share), up from $9.8 million ($0.64/share) in Q2 2021 and $3.4 million ($0.22/share) a year ago. The provision for loan losses was a reversal of $(1.1) million. Total assets increased by 2.2% to $2.10 billion, while total deposits rose to $1.83 billion, reflecting an 11.3% year-over-year increase. Net interest income was $20.2 million, with a net interest margin of 3.93%. A cash dividend of $0.12 per share was declared, marking the 27th consecutive quarterly dividend.
PCB Bancorp (NASDAQ: PCB) has declared a quarterly cash dividend of $0.12 per common share, set to be paid on November 19, 2021. This dividend is for shareholders of record as of November 12, 2021. PCB Bancorp, which operates Pacific City Bank, offers a wide range of commercial banking services mainly targeting small to medium-sized businesses and minority communities in Southern California.
PCB Bancorp has announced the extension of CEO Henry Kim's employment term from January 1, 2022, to December 31, 2026. This unanimous decision by the Board aims to provide stability and support the Company's objectives, benefiting shareholders and communities served. PCB Bancorp, the holding company for Pacific City Bank, offers a range of commercial banking services primarily in Southern California, focusing on small to medium-sized businesses and minority communities.
PCB Bancorp reported a strong Q2 2021 with a net income of $9.8 million ($0.64 per share), a 15% increase from Q1 2021 and a 192% increase year-over-year. The company reversed loan losses by $934,000 due to improving credit trends. Net interest income rose to $19 million, up 6.6% quarter-over-quarter, driven by a net interest margin of 3.83%. Total assets grew to $2.06 billion, with loans held for investment increasing by 2% since Q1. PCB also declared a quarterly cash dividend of $0.12, marking its 26th consecutive dividend payment.
PCB Bancorp (NASDAQ: PCB) declared a quarterly cash dividend of $0.12 per common share on July 22, 2021, increasing from $0.10. The dividend will be payable on or about August 13, 2021, to shareholders on record as of August 6, 2021. CEO Henry Kim emphasized the company’s commitment to shareholder value through these corporate decisions.
PCB Bancorp serves small to medium-sized businesses, individuals, and professionals, especially within the Korean-American and minority communities in Southern California.
PCB Bancorp (NASDAQ: PCB) reported a strong first quarter of 2021 with net income of $8.6 million ($0.55 per diluted share), up 47.9% from the previous quarter and 139.6% year-over-year. The company reversed loan loss provisions by $1.1 million, improving its allowance for loan losses ratio to 1.51%. Total assets grew to $2.05 billion, reflecting a 13.9% increase year-over-year. Deposits rose 18.7% to $1.75 billion. A stock repurchase program was launched, alongside a $0.10 dividend, marking the 25th consecutive quarterly payment.
PCB Bancorp (NASDAQ: PCB) announced a stock repurchase program on April 8, 2021, allowing for the buyback of up to 5% of its outstanding shares, equating to 775,000 shares. The repurchase will start following the release of unaudited Q1 2021 results, and purchases may occur through various methods, including open market transactions and block purchases. The plan may be altered or halted at the company’s discretion, with repurchases subject to market conditions. A 10b5-1 trading plan will also be implemented to facilitate these buybacks while adhering to insider trading regulations.
PCB Bancorp (NASDAQ: PCB) reported a net income of $5.8 million, or $0.38 per diluted share for Q4 2020, a notable increase from $3.4 million (Q3 2020) and $4.2 million (Q4 2019). Total assets decreased by 4.9% to $1.92 billion but increased 10.1% year-over-year. The company established a provision for loan losses of $2.1 million due to pandemic-related risks. The net interest margin improved to 3.64%. Although total deposits declined by 3.2% from Q3 2020, they rose 7.8% year-over-year, indicating resilience during economic challenges.
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