Pinnacle Bankshares Corporation Announces Quarterly Cash Dividend of 25 Cents per Share
Pinnacle Bankshares (OTCQX: PPBN) has declared a quarterly cash dividend of $0.25 per share, payable on September 6, 2024, to shareholders of record as of August 23, 2024. This marks the 48th consecutive quarter of dividend payments, maintaining the same amount as the previous quarter. Despite improved profitability in Q2 2024, the company's year-to-date net income is lower than in 2023. Pinnacle, the one-bank holding company for First National Bank, operates 18 branches across Central and Southern Virginia, serving various counties and cities. The bank, now in its 116th year of operation, has recently announced plans to expand into the South Boston area of Halifax County.
Pinnacle Bankshares (OTCQX: PPBN) ha annunciato un dividendo in contante trimestrale di 0,25 $ per azione, che sarà pagato il 6 settembre 2024, agli azionisti registrati al 23 agosto 2024. Questo segna il 48° trimestre consecutivo di pagamenti di dividendi, mantenendo lo stesso importo del trimestre precedente. Nonostante un miglioramento della redditività nel secondo trimestre del 2024, il reddito netto accumulato dell'azienda dall'inizio dell'anno è inferiore a quello del 2023. Pinnacle, la holding bancaria per First National Bank, gestisce 18 filiali in Virginia centrale e meridionale, servendo vari comitati e città. La banca, ora nel suo 116° anno di attività, ha recentemente annunciato piani di espansione nella zona di South Boston, nella contea di Halifax.
Pinnacle Bankshares (OTCQX: PPBN) ha declarado un dividendo en efectivo trimestral de 0,25 $ por acción, que se pagará el 6 de septiembre de 2024, a los accionistas registrados hasta el 23 de agosto de 2024. Esto marca el 48° trimestre consecutivo de pagos de dividendos, manteniendo la misma cantidad que el trimestre anterior. A pesar de la mejora en la rentabilidad en el segundo trimestre de 2024, el ingreso neto acumulado de la empresa en lo que va del año es inferior al de 2023. Pinnacle, la sociedad tenedora de First National Bank, opera 18 sucursales en el centro y sur de Virginia, sirviendo a varios condados y ciudades. El banco, que ahora se encuentra en su 116° año de operación, ha anunciado recientemente planes para expandirse en el área de South Boston, en el condado de Halifax.
Pinnacle Bankshares (OTCQX: PPBN)는 주당 0.25달러의 분기 현금 배당금을 선언했으며, 이는 2024년 9월 6일에 지급될 예정입니다. 배당금 지급 기준일은 2024년 8월 23일입니다. 이는 48분기 연속으로 배당금을 지급하는 것으로, 이전 분기와 동일한 금액을 유지하고 있습니다. 2024년 2분기에서 수익성이 개선되었음에도 불구하고, 회사의 연초부터 현재까지의 순이익은 2023년보다 낮습니다. Pinnacle은 First National Bank의 단일 은행 지주회사로, 중앙 및 남부 버지니아 전역에 18개의 지점을 운영하며 다양한 카운티와 도시를 서비스합니다. 현재 116년 운영 중인 이 은행은 최근 할리팩스 카운티의 사우스 보스턴 지역으로 확장할 계획을 발표했습니다.
Pinnacle Bankshares (OTCQX: PPBN) a déclaré un dividende en espèces trimestriel de 0,25 $ par action, payable le 6 septembre 2024, aux actionnaires inscrits au 23 août 2024. Cela marque le 48e trimestre consécutif de paiements de dividendes, maintenant le même montant que le trimestre précédent. Bien que la rentabilité se soit améliorée au deuxième trimestre de 2024, le revenu net de l'entreprise depuis le début de l'année est inférieur à celui de 2023. Pinnacle, la société holding d'une seule banque pour First National Bank, exploite 18 agences à travers le centre et le sud de la Virginie, servant divers comtés et villes. La banque, maintenant dans sa 116e année d'exploitation, a récemment annoncé des plans d'expansion dans la région de South Boston, dans le comté de Halifax.
Pinnacle Bankshares (OTCQX: PPBN) hat eine vierteljährliche Bardividende von 0,25 $ pro Aktie angekündigt, die am 6. September 2024 an die Aktionäre ausgezahlt wird, die am 23. August 2024 eingetragen sind. Dies markiert das 48. aufeinanderfolgende Quartal von Dividendenzahlungen, wobei der Betrag zum vorherigen Quartal gleich bleibt. Trotz verbesserter Rentabilität im 2. Quartal 2024 ist das Nettoergebnis des Unternehmens für das laufende Jahr niedriger als 2023. Pinnacle, die Einbank-Holdinggesellschaft von First National Bank, betreibt 18 Filialen in Zentral- und Südvirginia und bedient mehrere Landkreise und Städte. Die Bank, die nun im 116. Jahr ihres Bestehens ist, hat kürzlich Pläne angekündigt, in die Region South Boston im Halifax County zu expandieren.
- Consistent quarterly dividend payment of $0.25 per share
- 48 consecutive quarters of dividend payments
- Improved profitability in Q2 2024
- Planned expansion into South Boston area of Halifax County
- Year-to-date net income performance lower than 2023
ALTAVISTA, Va., Aug. 15, 2024 (GLOBE NEWSWIRE) -- Pinnacle Bankshares Corporation (“Pinnacle” or the “Company”) (OTCQX: PPBN), the one-bank holding company for First National Bank (the “Bank”), announced today that its Board of Directors declared a cash dividend of
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“Pinnacle is pleased to provide a cash dividend of
Pinnacle Bankshares Corporation is a locally managed community banking organization serving Central and Southern Virginia. The one-bank holding company of First National Bank, which is in its 116th year of operation, serves market areas consisting primarily of all or portions of the Counties of Amherst, Bedford, Campbell and Pittsylvania, and the Cities of Charlottesville, Danville, and Lynchburg. The Company has a total of eighteen branches with one branch in Amherst County within the Town of Amherst; two branches in Bedford County; five branches in Campbell County, including two within the Town of Altavista, where the Bank was founded; one branch in the City of Charlottesville; three branches in the City of Danville; three branches in the City of Lynchburg; and three branches in Pittsylvania County, including one within the Town of Chatham. The Bank recently announced plans to expand into the South Boston area of Halifax County.
This press release may contain “forward-looking statements” within the meaning of federal securities laws that involve significant risks and uncertainties. Any statements contained herein that are not historical facts are forward-looking and are based on current assumptions and analysis by the Company. These forward-looking statements, including statements made in Mr. Hall’s quotes may include, but are not limited to, statements regarding the credit quality of our asset portfolio in future periods, the expected losses of nonperforming loans in future periods, returns and capital accretion during future periods, our cost of funds, the maintenance of our net interest margin, future operating results and business performance and our growth initiatives. Although we believe our plans and expectations reflected in these forward-looking statements are reasonable, our ability to predict results or the actual effect of future plans or strategies is inherently uncertain, and we can give no assurance that these plans or expectations will be achieved. Factors that could cause actual results to differ materially from management's expectations include, but are not limited to: changes in consumer spending and saving habits that may occur, including increased inflation; changes in general business, economic and market conditions; attracting, hiring, training, motivating and retaining qualified employees; changes in fiscal and monetary policies, and laws and regulations; changes in interest rates, inflation rates, deposit flows, loan demand and real estate values; changes in the quality or composition of the Company’s loan portfolio and the value of the collateral securing loans; changes in macroeconomic trends and uncertainty, including liquidity concerns at other financial institutions, and the potential for local and/or global economic recession; changes in demand for financial services in Pinnacle’s market areas; increased competition from both banks and non-banks in Pinnacle’s market areas; a deterioration in credit quality and/or a reduced demand for, or supply of, credit; increased information security risk, including cyber security risk, which may lead to potential business disruptions or financial losses; volatility in the securities markets generally, including in the value of securities in the Company’s securities portfolio or in the market price of Pinnacle common stock specifically; and other factors, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. These risks and uncertainties should be considered in evaluating the forward-looking statements contained herein, and you should not place undue reliance on such statements, which reflect our views as of the date of this release.
CONTACT: Pinnacle Bankshares Corporation, Bryan M. Lemley, 434-477-5882 or bryanlemley@1stnatbk.com
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