- PCB Bancorp (PCB, Financial) reports a 15.1% increase in net income for Q1 2025 compared to the previous quarter.
- Net interest income rose by 4.8% from the previous quarter, reaching $24.3 million.
- Total assets grew by 3.9% from December 2024, reaching $3.18 billion at the end of the quarter.
PCB Bancorp, the holding company for PCB Bank, announced its financial results for the first quarter of 2025 with a notable rise in earnings. The company recorded a net income available to common shareholders of $7.7 million, or $0.53 per diluted common share, marking a 15.1% increase from the $6.7 million, or $0.46 per diluted common share, reported in the previous quarter. This also represents a significant 64.2% increase compared to the year-ago quarter.
The bank's net interest income grew to $24.3 million, up from $23.2 million in the last quarter of 2024. This improvement reflects a net interest margin expansion to 3.28%, compared with 3.18% in the previous quarter. However, gains on sales of loans were reported at $887,000, a decrease from the previous quarter's $1.2 million.
PCB's total assets climbed to $3.18 billion as of March 31, 2025, a 3.9% increase from the previous quarter, and an 11.5% rise year-over-year. This growth was primarily driven by an increase in loans held-for-investment, which reached $2.73 billion, up by 3.7% from the end of 2024. Total deposits also saw a 3.8% increase, reaching $2.71 billion.
According to PCB Bancorp's President and CEO, Henry Kim, the bank continues to show strong growth despite uncertainties in the broader economic environment, particularly in light of recent volatility in capital markets. Kim emphasized the bank's robust credit quality and capital levels, supporting ongoing expansion and shareholder value enhancement efforts.
