Pinnacle Bank Announces Earnings for First Quarter of 2025
PINNACLE BANK (CA) (PBNK)
NASDAQ:AMEX Investor Relations:
pinnaclebankonline.com/investors/index.php
Company Research
Source: Business Wire
GILROY, Calif.--(BUSINESS WIRE)--OTCQB: PBNK - Pinnacle Bank, headquartered in Gilroy, California, announced today unaudited net income for the three months ended March 31, 2025 of $1,914,000, compared to net income of $2,453,000 for the same period in 2024.As of March 31, 2025, total assets were $892.5 million, a 7% increase from $833.1 million on March 31, 2024.Gross loans were $576.6 million on March 31, 2025 compared to $576.8 million on March 31, 2024. The allowance for credit losses on March 31, 2024 was $7.068 million or 1.23% of net loans compared to $6.225 million or 1.09% of net loans on March 31, 2024. Nonperforming assets net of government guarantees were $9.6 million on March 31, 2025. There were no nonperforming assets on March 31, 2024.Total deposits on March 31, 2024 were $775.0 million, a 7% increase from $727.4 million on March 31, 2024 and a 6% increase from $732.2 million at December 31, 2024.“Our communities are showing resilience as they adapt to the challeng
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