secwatch.observer — SEC 8-K summary
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Issuer:     Prime Meridian Holding Co (—)
CIK:        0001586454
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0001437749-24-014170
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Prime Meridian Holding Q1 net earnings $0.59/share, down 22.8% YoY; NIM shrinks to 3.51%
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- Net earnings $1.93M ($0.59 EPS) vs $2.50M ($0.79) in Q1 2023; EPS down 25% YoY.
- Net interest margin 3.51% (Q1 2024) vs 3.92% (Q1 2023) as deposit costs rose 139.9% YoY.
- Gross loans up $20.9M (+3.2%) from Dec 2023; deposits up $3.0M (+0.4%) to $751.7M.
- Noninterest expense up 8.7% YoY to $4.84M; efficiency ratio worsened to 63.81% from 55.72%.
- Book value per share $24.71 (+8.3% from Q1 2023); bank well capitalized with Tier 1 leverage 10.35%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1586454/000143774924014170/0001437749-24-014170-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1586454/000143774924014170/pmhg20240327_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-014170

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