- PBCO Financial Corporation (OTCPK: PBCO) reported a 16.09% increase in Q1 2025 net income to $1.9 million.
- Total deposits rose 7.6% year-over-year, with a net interest margin increase to 3.63% from 3.31% in Q1 2024.
- PBCO paid its first cash dividend since 2009 at $0.229 per share.
PBCO Financial Corporation (OTCPK: PBCO), the parent company of People’s Bank of Commerce, announced its financial results for the first quarter of 2025, revealing a net income increase of 16.09% to $1.9 million, up from $1.7 million in the same period in 2024. Earnings per share (EPS) climbed to $0.37, compared to $0.31 in the first quarter of 2024.
Highlighting their strong performance, total deposits surged by 7.6% year-over-year while achieving a 3.63% net interest margin, up from 3.31% in the previous year. The loan portfolio experienced a modest growth to $551.0 million, recording a 6.13% yield, an improvement from 5.83% in Q1 2024.
PBCO also reported a tangible book value per share increase of 16.7% to $16.39, reflecting enhanced shareholder value. The company successfully issued its first cash dividend since 2009, amounting to $0.229 per share, demonstrating a commitment to returning capital to shareholders.
Non-performing loans saw an uptick due to a downgrade of a $2.1 million relationship, though the bank ensures adequate collateral coverage and foresees no losses from this downgrade. Despite the challenges in the investment portfolio, which declined by 11.2% to $131.9 million due to maturing investments, PBCO maintains a solid leverage ratio of 13.80%, signifying robust financial health.
