Pinnacle Bankshares Corporation Announces Record High 2023 Earnings
PINNACLE BANKSHARES CORP (PPBN)
NASDAQ:AMEX Investor Relations:
snl.com/irweblinkx/corporateprofile.aspx?iid=1032865
Company Research
Source: GlobeNewswire
ALTAVISTA, Va., Feb. 15, 2024 (GLOBE NEWSWIRE) -- Net income for Pinnacle Bankshares Corporation (OTCQX:PPBN), the one-bank holding company (the “Company” or “Pinnacle”) for First National Bank (the “Bank”), was $2,279,000, or $1.04 per basic and diluted share, for the fourth quarter of 2023. Net income for the year ended December 31, 2023 was a record high $9,762,000, or $4.45 per basic and diluted share. In comparison, net income was $2,562,000, or $1.18 per basic and $1.17 per diluted share, and $8,242,000, or $3.78 per basic and diluted share, respectively, for the same periods of 2022. Consolidated results for the quarter and the year are unaudited. Fourth Quarter & 2023 Highlights include the following: Record High 2023 Net Income of $9,762,000 surpassed the previous annual record high net income of $8,242,000 achieved in 2022.Return on Assets was 1.00% for 2023 compared to 0.82% for 2022. Net Interest Income increased 9% in 2023 as compared to 2022 and 2% in the fourth
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