Printer Friendly

Pinnacle Bancshares posts USD 493,000 of 3Q14 net income.

BANKING AND CREDIT NEWS-October 27, 2014--Pinnacle Bancshares posts USD 493,000 of 3Q14 net income

(C)2014 M2 COMMUNICATIONS http://www.m2.com

27 October 2014 -- Alabama US-based bank holding company Pinnacle Bancshares Inc (OTCBB: PCLB) has posted 3Q14 net income of USD 493,000 compared with net income of USD 494,000 for 3Q13.

For the nine months ended September 30, 2014, net income was USD 1.507m compared with net income of USD 1.458m for the nine months ended September 30, 2013.

Basic and diluted earnings per share for the three and nine month periods ended September 30, 2014, were USD 0.41 and USD 1.25 per share, respectively, compared to USD 0.41 and USD 1.21 per share, respectively, for the same periods last year.

For 3Q1414, return on average assets was 0.88%, and 0.90%, respectively, compared to.89% and 0.91%, respectively, in 3Q13.

Net interest margin was 3.31% and 3.33% for the three months and nine months ended September 30, 2014, respectively, compared to 3.42% and 3.51% for the three months and nine months ended September 30, 2013, respectively.

In the three and nine months ended September 30, 2014, Pinnacle's net interest margin declined primarily due to lower loan volumes. Lower provision for loan losses and operating expenses helped offset the decline in net interest income.

At September 30, 2014, the company's allowance for loan losses as a percentage of total loans was 1.93%, compared to 1.56% at December 31, 2013. Nonperforming loans as a percentage of total loans was.72% as of September 30, 2014 as compared to.65% as of December 31, 2013.

Pinnacle Bancshares, Inc.'s wholly owned subsidiary Pinnacle Bank has seven offices located in central and northwest Alabama.

1 USD = .62 GBP

((Comments on this story may be sent to info@m2.com))

COPYRIGHT 2014 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2014 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 Banking & Credit News (BCN)
Article Type:Financial report
Date:Oct 27, 2014
Words:314
Previous Article:Citizens Holding posts USD 1.898m of 3Q14 net income.
Next Article:National Penn Bancshares to pay USD 0.11 dividend.
Topics:

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters