PCB Bancorp (the "Company") (NASDAQ:PCB), the holding company of PCB Bank (the "Bank"), today reported net income available to common shareholders of $9.0 million, or $0.62 per diluted common share, for the second quarter of 2025, compared with $7.7 million, or $0.53 per diluted common share, for the previous quarter and $6.1 million, or $0.43 per diluted common share, for the year-ago quarter.

Q2 2025 Highlights

Net income available to common shareholders totaled $9.0 million, or $0.62 per diluted common share, for the current quarter;
Provision for credit losses was $1.8 million for the current quarter compared with $1.6 million for the previous quarter and $259 thousand for the year-ago quarter;
Allowance for Credit Losses ("ACL") on loans to loans held-for-investment ratio was 1.20% at June 30, 2025 compared with 1.17% at March 31, 2025, 1.16% at December 31, 2024, and 1.17% at June 30, 2024;
Net interest income was $26.0 million for the current quarter compared with $24.3 million for the previous quarter and $21.7 million for the year-ago quarter. Net interest margin was 3.33% for the current quarter compared with 3.28% for the previous quarter and 3.16% for the year-ago quarter;
Gain on sale of loans was $1.5 million for the current quarter compared with $887 thousand for the previous quarter and $763 thousand for the year-ago quarter;
Total assets were $3.31 billion at June 30, 2025, an increase of $121.8 million, or 3.8%, from $3.18 billion at March 31, 2025, an increase of $241.6 million, or 7.9%, from $3.06 billion at December 31, 2024, and an increase of $452.6 million, or 15.9%, from $2.85 billion at June 30, 2024;
Loans held-for-investment were $2.80 billion at June 30, 2025, an increase of $67.7 million, or 2.5%, from $2.73 billion at March 31, 2025, an increase of $165.9 million, or 6.3%, from $2.63 billion at December 31, 2024, and an increase of $346.2 million, or 14.1%, from $2.45 billion at June 30, 2024;
Total deposits were $2.82 billion at June 30, 2025, an increase of $108.5 million, or 4.0%, from $2.71 billion at March 31, 2025, an increase of $207.1 million, or 7.9%, from $2.62 billion at December 31, 2024, and an increase of $416.7 million, or 17.3%, from $2.41 billion at June 30, 2024; and
Opened a full-service branch in Suwanee, Georgia.

"We are pleased with our second quarter results highlighted by strong net income growth, continued healthy increases in loan and deposit balances, expansion in net interest margin, and the establishment of our first full-service branch in the state of Georgia as part of our long-term strategy," said Henry Kim, President and CEO. "Certain industries across our footprint are feeling the effects of persistent inflation and ongoing uncertainty surrounding tariffs and trade restrictions. Despite this backdrop, we continue to experience solid organic growth, strong credit metrics, solid reserve for loan losses, and robust capital level."

Mr. Kim continued, "Heading into the second half of 2025, we are encouraged by the positive momentum in our balance sheet growth, disciplined expense management, and results of our continued emphasis on relationship banking. We remain dedicated to operating under the best interest of our clients, communities, employees, and shareholders, while delivering consistent results through unpredictable economic cycles and changing competitive landscape."

Financial Highlights (Unaudited)

($ in thousands, except per share data)	Three Months Ended										Six Months Ended
($ in thousands, except per share data)	6/30/2025		3/31/2025		% Change		6/30/2024		% Change		6/30/2025		6/30/2024		% Change
Net income	$	9,071	$	7,735	17.3	%	$	6,281	44.4	%	$	16,806	$	10,966	53.3	%
Net income available to common shareholders	$	8,984	$	7,695	16.8	%	$	6,139	46.3	%	$	16,679	$	10,824	54.1	%
Diluted earnings per common share ("EPS")	$	0.62	$	0.53	17.0	%	$	0.43	44.2	%	$	1.15	$	0.75	53.3	%

Net interest income	$	25,990	$	24,283	7.0	%	$	21,735	19.6	%	$	50,273	$	42,734	17.6	%
Provision for credit losses		1,787		1,598	11.8	%		259	590.0	%		3,385		1,349	150.9	%
Noninterest income		3,297		2,580	27.8	%		2,485	32.7	%		5,877		5,430	8.2	%
Noninterest expense		14,829		14,474	2.5	%		15,175	(2.3	)%		29,303		31,527	(7.1	)%

PCB Bancorp Reports Earnings for Q2 2025