Pinnacle Bancshares Q3 profit rises, net interest margin improves
PCLB•Pinnacle Bancshares reported Q3 net income of $1.26 million and EPS of $1.40, both up year over year. Net interest margin rose to 3.26% from 3.20%.
1. Quarterly results
Pinnacle Bancshares’ Q3 net income and EPS rose year over year, with net income at $1.26 million and EPS at $1.40. Net interest margin increased to 3.26% from 3.20%, reflecting higher yields on loans and securities.
2. Other factors
Amortization of solar income tax credits reduced Q3 income tax expense by $62,000, with no comparable benefit last year. Nine-month results included a loss on sale of securities, offset by purchases of higher-yielding assets; the company provided no specific guidance for future quarters or the full year.
