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-Pinnacle Bancshares reports financial results.

Global Banking News-August 17, 2012--Pinnacle Bancshares reports financial results(C)2012 ENPublishing -

Global Banking News - 17 August 2012

Pinnacle Bancshares Inc (OTCBB: PCLB) has announced its financial results.

The bank said that its second-quarter net income was USD465,000 compared to USD304,000 reported in the same period a year earlier. For the six months ended June 30, 2012, the bank's net income was USD898,000, compared to USD346,000 reported the same period in the previous year.

Robert B. Nolen, Jr, president and CEO of the bank said, 'Our strategy is to continue to provide high quality products and services to, and relationship banking with, our customers who live and conduct businesses in our market area. We focus on loan quality and closely monitor our expenses. Although loan growth continues to be challenged, our core deposits, asset quality and regulatory capital ratios remain strong. We conservatively manage our investments, which we expect will provide significant flexibility if and when loan volumes begin to increase in an improving economy.'

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Publication:Global Banking News (GBN)
Date:Aug 17, 2012
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