Pinnacle Bank Announces Earnings for First Quarter of 2024

GILROY, Calif.--(BUSINESS WIRE)--OTCQB: PBNK - Pinnacle Bank, headquartered in Gilroy, California, announced today unaudited net income for the three months ended March 31, 2024 of $2,453,000, compared to net income of $2,723,000 for the same period in 2023. The decrease in net income from the first quarter of 2023 reflects lower noninterest income, higher provision for credit losses and higher noninterest expenses exceeding higher net interest income. As of March 31, 2024, total assets were $8