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Pinnacle Bankshares Corporation Announces Record High Quarterly Earnings

PPBN
  • Pinnacle Bankshares Corporation reported net income of $3,061,000 ($1.39 per share) for the quarter ended March 31, 2026, compared to $2,261,000 ($1.02 per share) in the same period of 2025.
  • Net interest income increased 9% to $10,357,000, driven by higher average loan volume & increased yields, while the net interest margin rose 20 basis points to 4.12%.
  • Noninterest income grew nearly 10% to $1,912,000, fueled by higher service charges, bank-owned life insurance income, investment commissions, & loan fees.
  • Noninterest expense rose less than 1% to $8,433,000 due to slightly higher salaries, benefits, & operating costs.
  • Total assets increased $25.1 million (2%) to $1.09 billion, primarily driven by a $27.1 million (3%) rise in deposits to $998.4 million.
  • Loans increased $1.5 million (less than 1%) to $741.8 million, while securities grew $20.9 million (14%) to $173.4 million.
  • The provision for credit losses was $78,000, with nonperforming loans to total loans remaining at 0.20% & no other real estate owned (OREO).
  • Capital ratios decreased slightly following the repurchase of 70,710 shares, resulting in a Leverage Ratio of 8.63% & a Total Risk-Based Capital Ratio of 13.06%.
  • Stockholders' equity decreased $1.3 million (1.5%) to $88.1 million due to share repurchases, dividends, & unrealized losses on securities.
  • The company's liquidity ratio stood strong at 32.5% (13.6% excluding available-for-sale securities) as of March 31, 2026.
  • Return on average assets (ROA) was 1.14%, an increase from 0.88% in the prior year quarter, while return on average equity (ROE) rose to 13.80%.
  • The stock price ended the quarter at $46.67 per share, up $1.17 (2.6%) from the previous period.
  • Pinnacle Bankshares Corporation will hold its Annual Meeting of Shareholders on May 12, 2026, at Virginia Technical Institute in Altavista, Virginia.