PCB Bancorp Q2 net income $7.5M ($0.52/sh) down 27% QoQ; net interest margin compresses to 3.55%

PCB BANCORP

2023-Q2 EPS reported $1.22 revenue$1,272,000

Net income $7.5M ($0.52 diluted EPS) vs $10.3M ($0.70) prior Q and $9.1M ($0.60) year ago.
Net interest margin 3.55% down from 3.79% prior Q and 4.01% year ago; net interest income $21.7M.
Provision for credit losses $197K vs reversal of $2.8M prior Q; ACL on loans ratio 1.17%.
Quarterly cash dividend of $0.18 per share declared, payable Aug 18 to record Aug 11.
Total assets $2.56B; deposits $2.19B; established $268.9M additional borrowing capacity via Fed program.

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Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

PCB BANCORP reported the second quarter of 2023 results: net income $7.5 million, EPS $0.52 per diluted common share.

Period: the second quarter of 2023
Net income: $7.5 million
EPS: $0.52 per diluted common share
Result: reported results

Exact text from the filing

PCB Bancorp Reports Earnings of $7.5 million for Q2 2023 Los Angeles, California - July 27, 2023 - PCB Bancorp (the “Company”) (NASDAQ: PCB), the holding company of PCB Bank (the “Bank”), today reported net income of $7.5 million, or $0.52 per diluted common share, for the second quarter of 2023,

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Source: SEC EDGAR

accession 0001423869-23-000040

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