Welcome to our dedicated page for Pinnacle Ban Ord news (Ticker: PPBN), a resource for investors and traders seeking the latest updates and insights on Pinnacle Ban Ord stock.
Pinnacle Bankshares Corporation (PPBN) provides essential banking services through First National Bank, serving Virginia communities with personal and commercial financial solutions. This news hub offers investors and stakeholders direct access to official announcements and strategic developments.
Track PPBN's financial performance, service expansions, and regulatory updates through verified press releases and filings. Our curated collection includes earnings reports, leadership changes, product launches, and market position updates relevant to regional banking trends.
Key focus areas include mortgage lending developments, agricultural loan programs, digital banking enhancements, and community investment initiatives. Bookmark this page for real-time updates on PPBN's financial health and operational milestones within Virginia's competitive banking sector.
Pinnacle Bankshares Corporation (OTCQX: PPBN) declared a cash dividend of $0.20 per share on February 14, 2023, payable on March 10, 2023. This dividend, which is 11% higher than last quarter's $0.18, marks the 42nd consecutive quarter of dividend declarations. The increase is attributed to record high earnings in 2022. President Aubrey H. Hall, III emphasized the importance of building capital through retained earnings, supporting the bank’s growth. Pinnacle serves Central and Southern Virginia with 18 branches.
Pinnacle Bankshares Corporation (OTCQX:PPBN) announced record net income for Q4 and the full year 2022, totaling $2,562,000 ($1.18 per share) and $8,242,000 ($3.78 per share), respectively. This marks an 88% increase in annual income compared to 2021. The rise is attributed to a 40% surge in net interest income, totaling $8,816,000 for Q4, driven by increased loan and security volumes amid a favorable interest rate environment. Return on assets improved to 0.82% from 0.47%, while return on equity rose to 14.62% from 7.31%. Noninterest income decreased by 2% for the year, impacted by lower mortgage loan activity.
Pinnacle Bankshares Corporation (OTCQX: PPBN) declared a cash dividend of $0.18 per share on November 8, 2022, payable on December 2, 2022, to shareholders of record by November 18, 2022. This dividend marks a 20% increase from the previous quarter and is part of a 41st consecutive quarterly declaration. Total dividends for 2022 are $0.61 per share, a 9% increase from $0.56 in 2021. The increase is attributed to strong earnings performance in 2022, while the company emphasizes a balance between returns and capital retention given economic volatility.
Pinnacle Bankshares Corporation (OTCQX:PPBN) reported record net income for Q3 2022, at $2,398,000 or $1.10 per share, a 37% increase year-over-year. For the first nine months, net income reached $5,681,000 or $2.61 per share, a 46% rise compared to 2021. Key drivers included a 15% increase in net interest income to $21,624,000, primarily due to higher loan volumes and yields. However, noninterest income fell by 3% to $5,385,000, attributed to lower mortgage loan sales amid rising interest rates. The company's total assets decreased 2% to $999,147,000.
On October 26, 2022, Pinnacle Bankshares Corporation (OTCQX:PPBN) announced the renewal of its contract with EVERFI, enhancing financial literacy access in local high schools and now extending resources to adults. This partnership aims to equip students and adults in Lynchburg and Danville-Pittsylvania County with essential financial skills through interactive courses covering topics such as saving, banking, credit scores, and consumer protection. This initiative reflects the Bank's commitment to community investment and education.
Pinnacle Bankshares Corporation (OTCQX:PPBN) announced the appointment of Robert Hurt to its Board of Directors, effective August 9, 2022. Hurt, currently Dean of the Helms School of Government at Liberty University and former U.S. Congressman, brings extensive legal and governing experience. His background includes serving on the House Financial Services Committee and representing Virginia's Fifth District. CEO Aubrey H. Hall, III, praised Hurt's community banking advocacy and market knowledge, highlighting his potential role in advancing First National Bank's vision as Virginia's premier community banking organization.
Pinnacle Bankshares Corporation (OTCQX: PPBN) announced a quarterly cash dividend increase to $0.15 per share on August 9, 2022, up from $0.14 last quarter. This marks the fortieth consecutive quarter of dividend declarations. Shareholders of record as of August 19, 2022 will receive payment on September 2, 2022. The increase reflects robust earnings performance in the first half of 2022, with the Board emphasizing a balance between shareholder returns and retaining earnings for bank capitalization.
Pinnacle Bankshares Corporation (OTCQX:PPBN) announced record net income for Q2 and H1 2022, with net income of $1,892,000 ($0.87/share) for Q2 and $3,283,000 ($1.51/share) for H1, marking a 52% increase year-over-year. This growth was fueled by increased net interest income of $13,446,000, up 11% from last year, despite a decrease in noninterest income due to lower mortgage loan sales. The company's return on average assets rose to 0.65% and return on average equity to 11.32%. Total assets stood at $996,328,000, down 2% from year-end 2021.
Pinnacle Bankshares Corporation (OTCQX: PPBN) announced a cash dividend of $0.14 per share on May 10, 2022, payable on June 3, 2022, to shareholders of record by May 20, 2022. This dividend maintains the amount paid last quarter and marks the 39th consecutive quarter of dividends declared. CEO Aubrey H. Hall, III expressed satisfaction in sustaining this quarterly payment, reflecting the company’s commitment to its shareholders. Pinnacle serves Central and Southern Virginia with 18 branches and has a strong community banking presence.
Pinnacle Bankshares Corporation (OTCQX:PPBN) announced a net income of $1,391,000 ($0.64 per share) for Q1 2022, a 27% increase compared to $1,099,000 ($0.51 per share) in Q1 2021. This growth was driven by higher net interest income, lower deposit costs, and increased noninterest income from interchange fees. Return on average assets rose to 0.55%, while return on average equity improved to 9.04%. Total assets reached $1.015 billion, reflecting an 11% year-over-year increase. The annual meeting is scheduled for May 10, 2022.
