Q3 Net Income Climbs to $2.6M, EPS $0.51 as Loans and Deposits Grow
PBCO sits 99% above its 52-week low of $13.75.
Summary
PBCO earned $2.6M in Q3, or $0.51 per share, up from $2.2M and $0.43 in Q2 — a clean sequential step up. Loans grew $9.0M (+1.6%) and deposits rose $18.2M (+3.0%), though $15.0M of that deposit gain was brokered funding rather than core customer money. Results include $648K of one-time merger costs tied to the pending Northrim BanCorp deal, so the underlying run-rate is better than the reported figure suggests. The leverage ratio improved to 15.81% from 15.40%, giving the bank more capital headroom. The real swing factor remains the Northrim merger closing and whether PBCO can replace brokered deposits with core funding.
At the time of this announcement, PBCO was trading at $27.34 on OTC in the Finance sector, with a market capitalization of approximately $138.7M. The 52-week trading range was $13.75 to $31.67. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.