PCB — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-07

• Annualized return on average shareholders’ equity10.95 %8.53 %

• Annualized return on average tangible common equity13.17 %10.45 %

• Weighted-average common shares outstanding, basic14,142,092 14,272,267

• Weighted-average common shares outstanding, diluted14,238,226 14,403,769

• Nonperforming loans held-for-investment to loans held-for-investment0.28 %0.23 %

Text removed vs the prior filing · source: 10-Q · 2025-11-07

• (2) The yield on municipal bonds has not been computed on a tax-equivalent basis.

• (3) Net interest spread is calculated by subtracting average rate on interest-bearing liabilities from average yield on interest-earning assets.

• (4) Net interest margin is calculated by dividing net interest income by average interest-earning assets.

• (5) Cost of funds is calculated by dividing annualized interest expense on total interest-bearing liabilities by the sum of average total interest-bearing liabilities and noninterest-bearing demand deposits.

• (1) Average balance includes both loans held-for-sale and loans held-for-investment, as well as nonaccrual loans. Net amortization of deferred loan fees of $1.1 million and $919 thousand, respectively, and net accretion of discount on loans of $1.5 million and $2.1 million, respectively, are include…

Text added vs the prior filing · source: 10-Q · 2026-05-07

• On March 18, 2026, the FOMC maintained the Fed Funds Target Rate at 3.50% to 3.75%. In the accompanying statement, the Committee noted economic activity has been expanding at a solid pace but highlighted that job gains remained low, and unemployment rate has been little changed in recent months. The…

Text removed vs the prior filing · source: 10-Q · 2025-11-07

• On September 17, 2025, the FOMC lowered the upper range of the Fed Funds Target Rate to 4.25%. The Committee noted that recent indicators suggest growth of economic activity moderated in the first half of the year. Job gains have slowed, and unemployment rate has edged up but remain low. They added …

Text added vs the prior filing · source: 10-Q · 2026-05-07

• An evaluation of the Company’s disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as of March 31, 2026 was carried out under the supervision and with the participation of the Company’s Chief Executive Officer, Chief Financial Officer and other…

• There have been no changes in the Company’s internal control over financial reporting (as defined in Rules 13a-15(f) under the Exchange Act) during the three months ended March 31, 2026 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over …

Text removed vs the prior filing · source: 10-Q · 2025-11-07

• An evaluation of the Company’s disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as of September 30, 2025 was carried out under the supervision and with the participation of the Company’s Chief Executive Officer, Chief Financial Officer and o…

• •The Company has not designed and maintained all applicable internal controls to ensure that unusual or infrequent derivative contracts are evaluated for proper accounting treatment and disclosure.

• Management initially identified this material weakness during the preparation of the Company’s financial statements for the three months ended March 31, 2025, as reported in Item 4 to the Company’s Quarterly Report on Form 10-Q/A for such period.

• Since identifying this material weakness, management has been developing and implementing a remediation plan to address the material weakness, which may include, among other things, having its Controller's office search and review all contract with potential accounting implication and disclosure com…

• There have been no changes in the Company’s internal control over financial reporting (as defined in Rules 13a-15(f) under the Exchange Act) during the three months ended September 30, 2025 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control o…

Text removed vs the prior filing · source: 10-Q · 2025-11-07

• The Company has identified a material weakness in its internal control over financial reporting.

• As disclosed in “Part I - Item 4. Controls and Procedures,” of this Quarterly Report on Form 10-Q, management has identified a material weakness in the Company’s internal control over financial reporting. As a result, management concluded that the Company’s internal control over financial reporting …

• The Company cannot assure that additional significant deficiencies or material weaknesses in its internal control over financial reporting will not be identified in the future. Any failure to maintain or implement required new or improved controls, or any difficulties the Company experiences in thei…

• The Company may not qualify to repurchase its Series C Preferred Stock on favorable terms.

• On May 24, 2022, the Company sold shares of its Series C Preferred Stock to the U.S. Treasury for the purchase price of $69.1 million under the Emergency Capital Investment Program, or “ECIP.” Under the ECIP program, the Treasury invested in depository institutions that are Community Development Fin…