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Pinnacle Bankshares Corporation Announces Record High 3rd Quarter/Year to Date 2026 Core Earnings

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  • Pinnacle Bankshares Corporation reported third-quarter 2026 net income of $3,581,000 ($1.66 per share), a 20% increase from $2,992,000 in the same period of 2025.
  • Year-to-date 2026 net income reached $13,095,000 ($6.02 per share), representing a 65% increase compared to $7,943,000 in the first nine months of 2025.
  • The 2026 year-to-date earnings included a $2,964,000 after-tax gain from the sale of Bearing Insurance, LLC, while core net income for the period rose 28% to $10,131,000.
  • Net interest income increased 10% to $32,828,000 for the nine months ended September 30, 2026, driven by a 12-basis point expansion in net interest margin to 4.20%.
  • Noninterest income surged 74% to $10,233,000 for the nine-month period, primarily due to the Bearing Sale, while core noninterest income grew 10% to $6,481,000 excluding the sale.
  • Noninterest expense increased only 2% to $26,222,000 for the nine months, with growth mainly attributed to higher salaries and benefits.
  • Total assets grew 3% to $1.10 billion as of September 30, 2026, with loans increasing 4% to $773 million \& securities rising 21% to $184 million.
  • Deposits increased 2.7% to $997 million for the nine-month period, although deposits declined 4% during the third quarter due to seasonal municipal deposit fluctuations.
  • The Bank's leverage ratio improved to 9.12% \& the total risk-based capital ratio rose to 13.69% as of September 30, 2026.
  • Pinnacle's stock price reached $63.07 per share at the end of the quarter, marking a 39% increase from the previous year-end price.
  • The allowance for credit losses totaled $5,489,000 (0.71% of total loans), with non-performing loans remaining stable at 0.20% of the loan portfolio.
  • Return on average assets (ROA) increased to 1.59% \& return on average equity (ROE) climbed to 19.11% for the nine months ended September 30, 2026.