secwatch.observer — SEC 8-K summary
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Issuer:     PCB BANCORP (PCB)
CIK:        0001423869
Form:       8-K
Filed at:   2025-07-24T23:59:59+00:00
Accession:  0001423869-25-000036
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 4.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PCB Bancorp says Q1 2025 financials unreliable; restatement reduces assets by $35.8M
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- Accounting error in fair value of preferred stock purchase option; original $35.8M asset deemed immaterial.
- Restatement reduces total assets and shareholders' equity by $35.8M; no impact on net income or EPS.
- Material weakness in internal control over financial reporting identified; remediation plan to be disclosed in Q2 10-Q.
- Company will amend Q1 2025 Form 10-Q to reflect restated financials.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1423869/000142386925000036/0001423869-25-000036-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1423869/000142386925000036/pcb-20250722.htm
  HTML page:      https://secwatch.observer/filing/0001423869-25-000036

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