Pinnacle Bancshares Q2 Net Income Edges Up, Margin Improves to 3.20%
PCLB has more than doubled off its 52-week low of $16.25.
Summary
Pinnacle Bancshares reported a modest year-over-year increase in Q2 net income and EPS, with net interest margin widening to 3.20% from 3.13%. The bank took a $268,000 loss on securities sales, reinvesting proceeds into higher-yielding, shorter-duration assets. Rising rates have created unrealized losses in the portfolio, but management expects those to be temporary. This follows a similar modest Q1 report in April, showing consistent but unspectacular performance. No forward guidance was provided.
At the time of this announcement, PCLB was trading at $40.05 on OTC in the Finance sector, with a market capitalization of approximately $39M. The 52-week trading range was $16.25 to $42.91. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.