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Pinnacle Bancshares Announces Results for First Quarter Ended March 31, 2025
Pinnacle Bancshares Announces Results for First Quarter Ended March 31, 2025.
About this update from Pinnacle Bancshares, Inc.
[{"type":"text","content":"\nRobert B. Nolen, Jr., President and Chief Executive Officer of Pinnacle Bancshares, Inc. (OTCBB: PCLB), today announced the Company’s results of operations for the first quarter ended March 31, 2025:\n\n\nFor the three months ended March 31, 2025, Pinnacle’s basic/diluted earnings per share was $1.13 as compared to $1.06 per share for the three months ended March 31, 2024. Net income for the three months ended March 31, 2025 was $1,018,000 as compared to $964,000 for the three months ended March 31, 2024.\n\n\nFor the three months ended March 31, 2025, return on average assets was 1.16%, compared to 1.14% for the three months ended March 31, 2024.\n\n\nThe Company’s net interest margin was 3.33% for the three months March 31, 2025, compared to 3.11% for the three months ended March 31, 2024.\n\nAt March 31, 2025, the Company’s allowance for loan losses as a percent of total loans was 1.65%, compared to 1.78% at December 31, 2024. There were no nonperforming assets at March 31, 2025 as well as at December 31, 2024.\n\nPinnacle Bank was classified as “well capitalized” at March 31, 2025. All capital ratios are significantly higher than the requirements for a well-capitalized institution. As of March 31, 2025, the Bank’s common equity Tier 1 capital and Tier 1 risk-based capital ratios were each 18.86% and its total capital ratio and Tier 1 leverage was 19.89% and 10.96%, respectively.\n\nDividends of $.27 per share were paid to shareholders during the first quarter of 2025 as well as the first quarter 2024.\n\nManagement believes that the Company has sufficient liquidity through its low loan to deposit ratio at March 31, 2025, as well as available funding from outside sources. Our net funding availability, as a percentage of our franchise funding, is 98.63% as compared to our established minimal limit of 25%. In addition, the Bank provides access to additional FDIC insurance coverage for accounts that would otherwise exceed deposit insurance coverage.\n\nThe Company’s total deposits as of March 31, 2025 increased $15.8 million (4.95%) as compared to December 31, 2024.\n\nEffects of Inflation\n\nInflation caused a substantial rise in interest rates during 2023 and 2022 which has had a negative effect in the securities market. As a result of rising interest rates since 2022, the Comp...