PCB Bancorp Reports Strong Q4 and Full-Year 2023 Financial Results
Los Angeles, CA – February 23, 2023 – PCB Bancorp (PCB) announced its financial results for the fourth quarter and full year ended December 31, 2023.
Q4 Highlights:
* Net income of $7 million, up from $5.6 million in the same period last year
* Earnings per share of 46 cents, exceeding analyst estimates by 13%
* Revenue of $49.4 million, a 7% increase year-over-year
* Net revenue of $26.2 million, surpassing market expectations
Full-Year Results:
* Profit of $25.8 million, a 6% increase from 2022
* Earnings per share of $1.74, exceeding analyst consensus by 9%
* Revenue of $99.7 million
"Our strong performance in the fourth quarter capped off an exceptional year for PCB Bancorp," said John Doe, CEO. "We continue to execute our strategic initiatives, driving growth and delivering value for our shareholders."
Outlook:
PCB Bancorp remains optimistic about its future prospects. The bank expects continued growth in its core business lines, supported by favorable economic conditions and its focus on customer service.
Disclaimer:
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those anticipated in these statements.