PCB BANCORP
For the period ended Dec 31, 2023. Filed Mar 12, 2024.
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FY2023 · Filed Mar 12, 2024
PCB$30.39+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets as of December 31, 202 and
(in thousands, except share data)
| December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Assets | ||
| Cash and due from banks | $26,518 | $23,202 |
| Interest-bearing deposits in other financial institutions | 215,824 | 123,829 |
| Total cash and cash equivalents | 242,342 | 147,031 |
| Securities available-for-sale, at fair value (amortized cost of $156,175 and $156,978 at December 31, 2023 and 2022, respectively, and allowance for credit losses of $0 at December 31, 2023) | 143,323 | 141,863 |
| Loans held-for-sale | 5,155 | 22,811 |
| Loans held-for-investment, net of deferred loan costs (fees) | 2,323,452 | 2,046,063 |
| Allowance for credit losses on loans (1) | (27,533) | (24,942) |
| Net loans held-for-investment | 2,295,919 | 2,021,121 |
| Premises and equipment, net | 5,999 | 6,916 |
| Federal Home Loan Bank and other restricted stock, at cost | 12,716 | 10,183 |
| Other real estate owned, net | 2,558 | — |
| Bank-owned life insurance | 30,817 | 30,064 |
| Deferred tax assets, net | — | 3,115 |
| Servicing assets | 6,666 | 7,347 |
| Operating lease assets | 18,913 | 6,358 |
| Accrued interest receivable | 9,468 | 7,472 |
| Other assets | 15,630 | 15,755 |
| Total assets | $2,789,506 | $2,420,036 |
| Liabilities and Shareholders’ Equity | ||
| Deposits: | ||
| Noninterest-bearing demand | $594,673 | $734,989 |
| Savings, NOW and money market accounts | 421,203 | 514,741 |
| Time deposits of $250,000 or less | 760,034 | 382,377 |
| Time deposits of more than $250,000 | 575,702 | 413,876 |
| Total deposits | 2,351,612 | 2,045,983 |
| Federal Home Loan Bank advances | 39,000 | 20,000 |
| Deferred tax liabilities, net | 876 | — |
| Operating lease liabilities | 20,137 | 6,809 |
| Accrued interest payable and other liabilities | 29,009 | 11,802 |
| Total liabilities | 2,440,634 | 2,084,594 |
| Commitments and contingent liabilities | ||
| Preferred stock, 10,000,000 shares authorized, no par value: | ||
| Series C, senior non-cumulative perpetual, $1,000 per share liquidation preference, 69,141 and 69,141 shares issued and outstanding at December 31, 2023 and 2022, respectively | 69,141 | 69,141 |
| Common stock, 60,000,000 shares authorized, no par value; issued and outstanding 14,260,440 and 14,625,474 shares, respectively, and included 41,661 and 62,022 shares of unvested restricted stock, respectively, at December 31, 2023 and 2022 | 142,563 | 149,631 |
| Retained earnings | 146,092 | 127,181 |
| Accumulated other comprehensive loss, net | (8,924) | (10,511) |
| Total shareholders’ equity | 348,872 | 335,442 |
| Total liabilities and shareholders’ equity | $2,789,506 | $2,420,036 |
(1)Allowance for credit losses on loans at December 31, 2023 is presented under ASC 326, while prior period comparison continues to be presented under legacy ASC 450 and ASC 310.
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