Pinnacle Bankshares Corporation Announces Increased Dividend

(OTCQX:PPBN) Pinnacle Bankshares Corporation announced that its Board of Directors declared a cash dividend of $0.35 per share on November 10, 2026. The dividend is payable on December 4, 2026, to shareholders of record as of November 20, 2026. The $0.35 per share cash dividend is $0.02, or 6%, higher than the $0.33 paid last quarter. This marks the fifty-seventh consecutive quarter that a dividend has been declared by the company. The quarterly dividend has been increased by $0.07, or 25%, during 2026. Aubrey H. Hall, III, President and Chief Executive Officer for both Pinnacle Bankshares Corporation and First National Bank, stated that the increase in the quarterly dividend to $0.35 per share is a result of earnings growth and the company's sound financial position. Pinnacle Bankshares Corporation is the one-bank holding company for First National Bank. The company operates a total of nineteen branches. There is one branch in Amherst County within the Town of Amherst. There are two branches in Bedford County. There are five branches in Campbell County, including two within the Town of Altavista where the Bank was founded. There is one branch in the City of Charlottesville. There are three branches in the City of Danville. There is one branch and a commercial loan production office in Halifax County within the Town of South Boston. There are three branches in the City of Lynchburg. There are three branches in Pittsylvania County, including one within the Town of Chatham. In 2026, First National Bank is celebrating its 118th year of operation.

Pinnacle Bankshares Corporation Announces Record High 3rd Quarter/Year to Date 2026 Core Earnings

(OTCQX:PPBN) Pinnacle Bankshares Corporation reported net income of $3,581,000, or $1.66 per basic and diluted share, for the third quarter of 2026. Net income for the nine months ended September 30, 2026, was $13,095,000, or $6.02 per basic and diluted share. For the same periods in 2025, net income was $2,992,000, or $1.34 per share, and $7,943,000, or $3.58 per share, respectively. The nine-month 2026 results included a pretax gain of $3,752,000 ($2,964,000 after tax) from the sale of the Bank’s ownership interest in Bearing Insurance, LLC. Third quarter 2026 net income increased 20% year-over-year and exceeded the previous record high of $3,489,000 in the second quarter of 2026. Year-to-date 2026 net income increased 65% over 2025, providing a Return on Assets (ROA) of 1.59%. Core net income, excluding the Bearing Sale, increased 28% to $10,131,000, with a core ROA of 1.23%. Net interest income rose 10% to $32,828,000, driven by higher earning asset volume and a 12-basis point increase in net interest margin to 4.20%. Provision for credit losses increased $395,000, mainly due to loan growth. Noninterest income improved 74% to $10,233,000, primarily due to the Bearing Sale, while core noninterest income (excluding the Bearing Sale) increased 10% to $6,481,000. Noninterest expense increased 2% to $26,222,000. As of September 30, 2026, total assets were $1.10 billion, up $30.6 million or 3% from December 31, 2025. Loans increased $32.3 million, or 4%, to $773 million; securities increased $31.6 million, or 21%, to $184 million; and deposits increased $25.7 million, or 2.7%, to $997 million. The Bank’s leverage ratio rose to 9.12% and the total risk-based capital ratio to 13.69%. Pinnacle’s stock price ended the quarter at $63.07 per share, up $17.57 or 39%. Return on average equity (ROE) for the nine months ended September 30, 2026, was 19.11%, compared to 12.76% for the same period in 2025. Net interest income for Q3 2026 was $11,420,000, up $1,193,000 or 12% from Q3 2025. Interest income increased $1,065,000 or 8%, while interest expense decreased $128,000 or 5%. Through nine months, net interest income was $32,828,000, up $3,055,000 or 10% from 2025, with net interest margin up 12 basis points to 4.20%. Provision for credit losses was $227,000 in Q3 2026 and $534,000 for the nine months, compared to $29,000 and $139,000, respectively, in 2025. The allowance for credit losses was $5,489,000 (0.71% of loans) as of September 30, 2026. Non-performing loans to total loans remained at 0.20%. Noninterest income for Q3 2026 increased $112,000 or 5% to $2,156,000, with a $152,000 or 16% increase in service charges on deposit accounts, partially offset by a $90,000 or 53% decrease in mortgage loan sales fees. Through nine months, noninterest income increased $4,359,000 or 74% to $10,233,000, with a $342,000 or 13% increase in service charges and smaller increases in BOLI income, merchant card fees, loan fee income, and investment/insurance commissions. Noninterest expense for Q3 2026 increased $281,000 or 3% to $8,848,000, mainly due to a $371,000 or 8% increase in salaries and benefits, partially offset by decreases in legal and core system expenses and elimination of subordinated debt interest. Through nine months, noninterest expense increased $500,000 or 2% to $26,222,000, mainly due to a $756,000 or 5.5% increase in salaries and benefits, offset by a $386,000 decrease in subordinated debt interest and smaller decreases in other expenses. As of September 30, 2026, total assets were $1,095,866,000, with $772,647,000 in loans, $184,044,000 in securities, and $82,892,000 in cash and cash equivalents. Loans increased $32,319,000 or 4% from December 31, 2025, with $23,700,000 or 3% of that growth in Q3. Securities increased $31,592,000 or 21% from December 31, 2025. 40% of the securities portfolio was in U.S. Treasuries with an average maturity of 0.86 years and $39,000,000 maturing in Q4 2026. Unrealized losses on available for sale securities were $11,811,000 (6% of book value) as of September 30, 2026, compared to $7,452,000 (5% of book value) at year-end 2025. Cash and cash equivalents decreased $39,369,000 or 32% to $82,892,000, mainly due to a $63,911,000 increase in loans and securities versus a $25,742,000 increase in deposits. Deposits decreased $44,621,000 or 4% in Q3 due to cyclical municipal deposit outflows. The liquidity ratio was 29% as of September 30, 2026, or 9% excluding available for sale securities. Total liabilities were $1,001,704,000, up $25,884,000 or 2.7% from December 31, 2025. Deposits increased $25,742,000 or 2.7% to $997,053,000. Total stockholders’ equity was $94,162,000, primarily $88,559,000 in retained earnings, up from $89,408,000 at year-end 2025, reflecting net income, dividends, a repurchase of 70,710 shares in Q1 2026, and increased unrealized securities losses. Both the Company and Bank remain well capitalized by regulatory standards. Pinnacle operates nineteen branches and a commercial loan production office, and First National Bank is celebrating its 118th year in 2026.

Pinnacle Bankshares Corporation Announces Record High 2nd Quarter/Mid-Year 2026 Earnings

(OTCQX:PPBN) Pinnacle Bankshares Corporation reported net income of $6,453,000, or $2.97 per basic and diluted share, for the second quarter of 2026 and $9,514,000, or $4.36 per basic and diluted share, for the six months ended June 30, 2026. Net income for both periods in 2026 was positively impacted by the sale of the Bank’s ownership interest in Bearing Insurance, LLC, which generated a pretax gain of $3,752,000 ($2,964,000 after tax). Total assets as of June 30, 2026, were $1,141,859,000, up 7% from $1,065,228,000 as of December 31, 2025, and deposits increased $70,364,000, or 7%, to $1,041,674,000. The Bank’s Leverage Ratio decreased slightly to 8.84%, while the Total Risk-Based Capital Ratio increased to 13.76%. The company’s stock price ended the quarter at $55.10 per share, an increase of $9.60, or 21%. The company projects continued success based on strong asset quality, ample liquidity, and controlled noninterest expense.

Pinnacle Bankshares Corporation Announces Increased Dividend and Results of the 2026 Annual Meeting of Shareholders

Pinnacle Bankshares Corporation (OTCQX: PPBN) announced that its Board of Directors declared a cash dividend of $0.30 per share on May 12, 2026, payable June 5, 2026, to shareholders of record as of May 22, 2026. This dividend is $0.02, or 7%, higher than the $0.28 paid last quarter and marks the fifty-fifth consecutive quarter that a dividend has been declared. The company also reported achieving a new record high stock price of $52.75 per share on May 8, 2026. At the Annual Meeting of Shareholders held on May 12, 2026, several directors were re-elected to the Board. First National Bank, the company's subsidiary, is celebrating its 118th year of operation in 2026.

Pinnacle Bankshares Corporation Announces First National Bank’s Sale of Membership in Bearing Insurance Group, LLC

Pinnacle Bankshares Corporation (OTCQX: PPBN) announced that effective May 1, 2026, First National Bank completed the sale of its membership interest in Bearing Insurance Group, LLC to an unaffiliated third party. The Company estimates that it will recognize a pre-tax gain of approximately $3.8 million on the Transaction, which will be recognized in its financial results for the second quarter of 2026. Pinnacle Bankshares Corporation operates nineteen branches across several counties and cities in Virginia and recently opened a full-service branch in the South Boston area of Halifax County. First National Bank is in its 118th year of operation. This transaction may impact the Company's future operating results and business performance.

Pinnacle Bankshares Corporation Announces Record High Quarterly Earnings

Pinnacle Bankshares Corporation (OTCQX:PPBN) reported net income of $3,061,000, or $1.39 per basic and diluted share, for the quarter ended March 31, 2026, up from $2,261,000, or $1.02 per share, for the same period in 2025. Total assets increased by $25,117,000, or 2%, to $1,090,346,000, and deposits rose by $27,148,000, or 3%, to $998,457,000. The company's return on average assets (ROA) was 1.14%, and return on average equity (ROE) was 13.80% for the first quarter of 2026. Net interest income increased 9% to $10,357,000, and the stock price ended the quarter at $46.67 per share, up $1.17, or 2.6%. Asset quality remained strong with nonperforming loans at 0.20% of total loans and no other real estate owned.