Latest news with #ProvidenceBank
Associated Press
09-07-2025
- Business
- Associated Press
PB Financial Corporation Declares Third-Quarter, 2025 Dividend
ROCKY MOUNT, NC / ACCESS Newswire / July 9, 2025 / Ted E. Whitehurst, President and CEO of PB Financial Corporation (OTCQX:PBNC), the holding company for Providence Bank, announced today that the Board of Directors approved a quarterly cash dividend of $0.59 per share on common stock outstanding to shareholders of record at the close of business on August 1, 2025. The dividend is payable August 22, 2025. This is an increase of approximately 9.26% from the dividend paid during the 3rd quarter of 2024. This represents a $2.36 per share dividend on an annualized basis and a dividend yield of approximately 4.72% (based on closing price of July 8, 2025 of $50.00 per share). Whitehurst commented, 'This represents our 55th consecutive quarterly cash dividend. Our consistent financial performance has allowed us to increase our cash dividend each quarter since we began paying dividends in the 1st quarter of 2012. This increase in our quarterly cash dividend is part of our continued strategy to enhance shareholder value which we believe sets us apart from other community banks.' PB Financial Corporation is headquartered at 450 N. Winstead Avenue in Rocky Mount, North Carolina. As of June 30, 2025, PB Financial Corporation had total assets of $1.402 billion, loans of $1.176 billion and total deposits of $1.186 billion. This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding PB Financial Corporation. Those statements may include but are not limited to statements regarding the Company's plans, objectives, expectations and intentions and other statements identified by words such as 'believes,' 'considers,' 'expects,' 'anticipates,' 'estimates,' 'intends,' 'plans,' 'targets,' 'projects,' 'would be,' and similar expressions. These statements are based upon current beliefs and expectations of management of PB Financial Corporation and are subject to significant risks and uncertainties. Actual or future results or events may differ from those set forth in the forward-looking statements. PB Financial Corporation does not undertake to update any forward-looking statements in this press release. The information as of and for the quarter ended June 30, 2025 as presented is unaudited. For more information, contact: July 9, 2025 Ted E. Whitehurst, President and CEO 252-467-2990; [email protected] SOURCE: PB Financial Corp press release
Associated Press
28-04-2025
- Business
- Associated Press
PB Financial Corporation Declares Second-Quarter, 2025 Dividend
ROCKY MOUNT, NC / ACCESS Newswire / April 28, 2025 / Ted E. Whitehurst, President and CEO of PB Financial Corporation (OTCQX:PBNC), the holding company for Providence Bank, announced today that the Board of Directors approved a quarterly cash dividend of $0.58 per share on common stock outstanding to shareholders of record at the close of business on May 8, 2025. The dividend is payable on May 23, 2025. This is an increase of approximately 9.43% from the dividend paid during the 2nd quarter of 2024. This represents a $2.32 per share dividend on an annualized basis and a dividend yield of approximately 4.99% (based on closing price on April 25, 2025 of $46.50 per share). Whitehurst commented, 'This marks our 54th consecutive quarterly cash dividend - a clear reflection of our strong and consistent financial performance. Since initiating cash dividends in early 2012, we have increased the dividend every quarter. With this latest dividend, our original shareholders have received $11.17 per share in cash dividends, which has now surpassed their initial $11.00 per share investment. This milestone highlights our unwavering focus on shareholder value and distinguishes Providence from other community banks.' Providence Bank is a state-chartered community bank headquartered at 450 N. Winstead Avenue in Rocky Mount, North Carolina, with branches in Rocky Mount, Tarboro, Nashville, Wilson, Raleigh, Jacksonville, Holly Ridge, Morehead City, Richlands and a loan production office in New Bern. As of March 31, 2025, PB Financial Corporation had total assets of $1.355 billion, loans of $1.149 billion and total deposits of $1.153 billion. This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding PB Financial Corporation. Those statements may include but are not limited to statements regarding the Company's plans, objectives, expectations and intentions and other statements identified by words such as 'believes,' 'considers,' 'expects,' 'anticipates,' 'estimates,' 'intends,' 'plans,' 'targets,' 'projects,' 'would be,' and similar expressions. These statements are based upon current beliefs and expectations of management of PB Financial Corporation and are subject to significant risks and uncertainties. Actual or future results or events may differ from those set forth in the forward-looking statements. PB Financial Corporation does not undertake to update any forward-looking statements in this press release. The information as of and for the quarter ended March 31, 2025 as presented is unaudited. For more information, contact: April 28, 2025 Ted E. Whitehurst, President and CEO 252-467-2990; [email protected] SOURCE: PB Financial Corp press release
Associated Press
08-04-2025
- Business
- Associated Press
PB Financial Corporation Reports Record First Quarter 2025 Earnings
ROCKY MOUNT, NC / ACCESS Newswire / April 8, 2025 / Ted E. Whitehurst, President and CEO of PB Financial Corporation (OTCQX:PBNC), the holding company (the 'Company') for Providence Bank, reported net income available to common stockholders for the quarter ended March 31, 2025, of $4,700,394 compared to $3,169,250 for the same period in 2024, an increase of 48.31%. As of March 31, 2025, the Company reported total assets of $1.355 billion compared to $1.016 billion on March 31, 2024, an increase of 33.40%. Total deposits were $1.153 billion and gross loans were $1.149 billion at the end of the first quarter of 2025 compared to total deposits of $805.0 million and gross loans of $860.3 million at the end of the first quarter of 2024, increases of 43.26% and 33.56%, respectively. Whitehurst commented, 'I am very pleased to report record quarterly earnings. The Company continued to experience strong growth throughout the organization with over 30% growth in loans, deposits and total assets. Our employees help drive our success through their hard work and dedication to serving our customers. As always, we will continue to look for opportunities to further enhance shareholder value.' For the three-month period ended March 31, 2025, the Company had basic earnings of $1.64 per share compared to $1.30 per share for the same period last year, an increase of 26.15%. As of March 31, 2025, book value per common share was $41.10 compared to $35.67 on March 31, 2024, an increase of 15.22%. On February 27, 2025, the Company paid its first quarter dividend of $0.57 per share for each share of common stock outstanding. It was our 53rd consecutively increased quarterly cash dividend paid to shareholders. Providence Bank is a state-chartered community bank headquartered at 450 N. Winstead Avenue in Rocky Mount, North Carolina, with branches in Rocky Mount, Tarboro, Nashville, Wilson, Raleigh, Jacksonville, Holly Ridge, Morehead City, Richlands, and a loan production office in New Bern. This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding PB Financial Corporation. Those statements may include but are not limited to statements regarding the Company's plans, objectives, expectations and intentions and other statements identified by words such as 'believes,' 'considers,' 'expects,' 'anticipates,' 'estimates,' 'intends,' 'plans,' 'targets,' 'projects,' 'would be,' and similar expressions. These statements are based upon current beliefs and expectations of management of PB Financial Corporation and are subject to significant risks and uncertainties. Actual or future results or events may differ from those set forth in the forward-looking statements. PB Financial Corporation does not undertake to update any forward-looking statements in this press release. The information as of and for the quarters ended March 31, 2025 and March 31, 2024 as presented are unaudited. PB Financial Corporation Consolidated Balance Sheets and Statements of Operations Balance Sheets March 31, December 31, In Thousands 2025 2024 Assets (unaudited) * Cash and due from banks $ 11,844 $ 11,445 Interest-earning deposits with banks 31,988 13,385 Investment securities 113,981 114,048 Loans, gross 1,149,038 1,129,337 Allowance for credit losses (10,369 ) (10,205 ) Intangible assets 14,604 14,278 Other assets 43,987 44,922 Total assets $ 1,355,073 $ 1,317,210 Liabilities and Stockholders' Equity Deposits $ 1,153,187 $ 1,115,145 Borrowed funds 53,398 58,496 Other liabilities 10,245 10,282 Shareholders' Equity 138,243 133,287 Total liabilities and stockholders' equity $ 1,355,073 $ 1,317,210 Book value per share $ 41.10 $ 39.63 Tangible book value per share $ 36.11 $ 34.72 Statements of Operations For the three months ended In Thousands March 31, March 31, 2025 2024 (unaudited) (unaudited) Interest income $ 21,038 $ 15,640 Interest expense 9,267 7,884 Net interest income 11,771 7,756 Provision for credit losses 161 172 Net interest income after provision for credit losses 11,610 7,584 Non interest income 476 299 Non interest expense 5,608 3,455 Income before income taxes 6,478 4,428 Income tax expense 1,464 1,098 Net income 5,014 3,330 Preferred stock dividends 314 161 Net income available to common stockholders $ 4,700 $ 3,169 Net income per common share - basic $ 1.64 $ 1.30 Net income per common share - diluted $ 1.57 $ 1.24 * Derived from audited financial statements For more information, contact:
