Pinnacle Bank Announces Earnings for First Quarter of 2023

GILROY, Calif.--(BUSINESS WIRE)--OTCQB: PBNK - Pinnacle Bank, headquartered in Gilroy, California, announced today unaudited net income for the three months ended March 31, 2023 of $2,723,000, an increase of 119% compared to net income of $1,246,000 for the same period in 2022. As of March 31, 2023, total assets were $766.6 million, a 2% decrease from the $778.8 million at March 31, 2022. Gross loans were $528.2 million at March 31, 2023, a new record and an increase of $85.5 million (19%) from