Pinnacle Bancshares, Inc. Reports Earnings Results for the Full Year Ended December 31, 2022
February 23, 2023 at 08:00 am EST
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Pinnacle Bancshares, Inc. reported earnings results for the full year ended December 31, 2022. For the full year, the company reported net interest income was USD 11.38 million compared to USD 10.28 million a year ago. Net income was USD 4.5 million compared to USD 4.69 million a year ago.
Basic earnings per share from continuing operations was USD 4.79 compared to USD 4.83 a year ago.
Pinnacle Bancshares, Inc. is a bank holding company whose principal activity is the ownership and management of its wholly owned subsidiary, Pinnacle Bank. The Bank is primarily in the business of obtaining funds in the form of various savings, demand deposit, and time deposit products and investing those funds in mortgage, consumer, and commercial loans. The Bank operates in seven offices in the central and northwest portions of Alabama and originates its loans in this market area. The Company offers various types of real estate loan products, including commercial real estate mortgage loans, loans for real estate construction and development, residential mortgage loans and other real estate mortgage loans. Its commercial non-real estate loan portfolio segment includes commercial, financial, agricultural and municipal tax-free loans. The Companyâs consumer loan portfolio segment includes direct consumer installment loans, overdrafts, and other revolving credit loans.