PCB Bancorp Q1 net income $4.7M ($0.33), down 54.5% YoY; NIM compresses to 3.10%

PCB BANCORP

2024-Q1 EPS reported $0.33 revenue$671,000

Net income $4.7M, EPS $0.33 vs $0.70 YoY; revenue (NII) $21.0M down 6.3% YoY.
Net interest margin 3.10% vs 3.79% YoY; cost of total funding rose to 3.76% from 2.33%.
Non-recurring expenses: $1.0M core conversion charge and $815K SBA recovery demand.
Loans held-for-investment $2.40B (+14.6% YoY); deposits $2.40B (+12.2% YoY).
Declares $0.18/share dividend payable May 17; ECIP preferred dividend to start Q2 2024 at 2% annual rate.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PCB BANCORP reported first quarter of 2024 results: net income $4.7 million, EPS $0.33 per diluted common share.

Period: first quarter of 2024
Net income: $4.7 million
EPS: $0.33 per diluted common share
Result: reported results

Exact text from the filing

PCB Bancorp Reports Earnings of $4.7 million for Q1 2024

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Source: SEC EDGAR

accession 0001423869-24-000027

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