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
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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.
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|Publication:||M2 Banking & Credit News (BCN)|
|Article Type:||Financial report|
|Date:||Oct 27, 2014|
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