Pinnacle Bankshares Corporation Announces 2nd Quarter/Mid-Year 2025 Earnings

Core Insights - Pinnacle Bankshares Corporation reported a net income of $2,690,000 for Q2 2025, a 22% increase from $2,208,000 in Q2 2024, and $4,951,000 for the first half of 2025, up 15% from $4,292,000 in the same period of 2024 [1][3][7] Income Statement Highlights - Net interest income for Q2 2025 increased by 14% to $10,067,000 compared to $8,818,000 in Q2 2024, driven by higher loan volume and yields on earning assets [8][9] - Noninterest income rose by 15% to $2,085,000 in Q2 2025, primarily due to increased sales of investment and insurance products [12] - Noninterest expense increased by 14.5% to $8,795,000 in Q2 2025, mainly due to higher salaries and benefits [14] Profitability Metrics - Return on average assets (ROA) improved to 0.97% for the first half of 2025, up from 0.87% in the same period of 2024 [4][28] - Return on average equity (ROE) remained stable at 12.16% for the first half of 2025, consistent with the same period in 2024 [4][28] Balance Sheet and Capital Ratios - Total assets as of June 30, 2025, were $1,040,560,000, a slight decrease from $1,043,994,000 at the end of 2024 [16] - Total loans increased by 2% to $726,539,000, while total securities decreased by 17% to $145,290,000 [16] - The liquidity ratio stood at 30% as of June 30, 2025, indicating strong liquidity [19] Asset Quality - The provision for credit losses was significantly reduced to $73,000 in Q2 2025 from $242,000 in Q2 2024, reflecting strong asset quality [10] - Nonperforming loans to total loans decreased to 0.13% as of June 30, 2025, compared to 0.22% at year-end 2024 [11][28] Stock Performance - The stock price at the end of Q2 2025 was $33.01 per share, representing a 5.8% increase from the previous quarter [7][28]