secwatch.observer — SEC 8-K summary
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Issuer:     PCB BANCORP (PCB)
CIK:        0001423869
Form:       8-K
Filed at:   2022-05-24T23:59:59+00:00
Accession:  0001423869-22-000019
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 5.03, 3.02, 3.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PCB Bancorp receives $69.1M ECIP investment from Treasury, issues Series C Preferred Stock
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- Received $69.1M from U.S. Treasury under ECIP; issued 69,141 shares of Series C Preferred Stock at $1,000 liquidation preference.
- Preferred stock qualifies as Tier 1 capital; no dividend for first 24 months, then up to 2% based on qualified lending.
- Dividends payable quarterly after 24-month period; redeemable after 5 years with regulatory approval.
- Restrictions on dividends and repurchases of common stock if preferred dividends not paid in full.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1423869/000142386922000019/0001423869-22-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1423869/000142386922000019/pcb-20220524.htm
  HTML page:      https://secwatch.observer/filing/0001423869-22-000019

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer