- Pinnacle Bancshares, Inc. (PCLB, Financial) reports a net income of $1,018,000 for Q1 2025, up from $964,000 in Q1 2024.
- Basic and diluted earnings per share rose to $1.13 from $1.06 compared to the same period last year.
- Deposits increased by $15.8 million, a rise of 4.95% since December 2024.
JASPER, Alabama -- Pinnacle Bancshares, Inc. (PCLB) has announced its financial results for the first quarter ending March 31, 2025. The company recorded a net income of $1,018,000, reflecting a growth from the $964,000 reported in the first quarter of the previous year. Basic and diluted earnings per share were reported at $1.13, up from $1.06 in the same quarter of 2024.
The company's return on average assets stood at 1.16%, slightly higher than the 1.14% from Q1 2024. Meanwhile, the net interest margin increased to 3.33% from 3.11% a year ago. The net interest income for the quarter reached $2,869,402, with no provision for loan losses reported for this period.
Pinnacle Bancshares maintained its “well capitalized” status, with capital ratios significantly higher than required levels. The common equity Tier 1 capital ratio and Tier 1 risk-based capital ratio were both 18.86%, while the total capital ratio was 19.89% and the Tier 1 leverage ratio was at 10.96% as of March 31, 2025.
The allowance for loan losses as a percentage of total loans was reduced to 1.65% from 1.78% at the end of December 2024. Notably, the bank reported no nonperforming assets as of March 31, 2025, continuing the trend from the end of the previous year.
Despite the challenges posed by inflation and rising interest rates since 2022, which led to an accumulated other comprehensive loss on securities available for sale of approximately $26.1 million, management remains confident that these losses are temporary and unrelated to any credit deterioration.
On the liabilities side, total deposits climbed to $333,928,000, marking an increase of $15.8 million or 4.95% from the December 2024 figures. Cash dividends of $0.27 per share were distributed to shareholders in both Q1 2025 and Q1 2024.
Looking ahead, Pinnacle Bancshares plans to leverage its sufficient liquidity, supported by a low loan-to-deposit ratio and available external funding, to navigate the economic landscape effectively.
