PCB Bancorp reports record Q2 net income of $9.8M, EPS $0.64, up 15% QoQ

PCB BANCORP

2021-Q2 EPS reported $1.19 revenue$1,181,000

Net income $9.8M ($0.64 diluted EPS) vs $8.6M ($0.55) in Q1 and $3.4M ($0.22) in Q2 2020.
Net interest margin improved to 3.83% from 3.70% in Q1; net interest income $19.0M, up 6.6% QoQ.
Provision reversal of $934K vs $1.1M reversal in Q1; allowance for loan losses at 1.45% of loans.
Board declared quarterly cash dividend of $0.12 per share, payable Aug 13 to holders of record Aug 6.
Share repurchases: 646,334 shares bought through June 30 under 5% program announced April 8.

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