PCB Bancorp Q2 net income $9.1M ($0.60 EPS), declares $0.15 dividend, authorizes stock buyback

PCB BANCORP

2022-Q2 EPS reported $1.27 revenue$1,219,000

Q2 net income $9.1M vs $10.2M prior quarter and $9.8M year ago; diluted EPS $0.60.
Net interest income $21.4M (NIM 4.01%) from $20.0M; loan loss reversal $109K.
Quarterly cash dividend of $0.15/share declared; payable Aug 19 to record Aug 12.
Board authorized repurchase of up to 5% of outstanding common stock through Feb 1, 2023.
Subsidiary Pacific City Bank to change name to PCB Bank effective Aug 25, 2022.

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