PBCO FINANCIAL CORPORATION REPORTS Q1 2026 RESULTS
Medford, Oregon – April 22, 2026 – PBCO Financial Corporation (OTCPK: “PBCO”),
the holding company (the “Company”) of People’s Bank of Commerce (the “Bank”), today reported net income of $2.5 million and earnings per share of $0.48 for the fourth quarter of 2025, compared to net income of $2.1 million and $0.39 per share for the third quarter of 2025. For the year ended 2025, earnings per share were $1.63 compared to $1.52 in 2024.
the holding company (the “Company”) of People’s Bank of Commerce (the “Bank”), today reported net income of $2.7 million and earnings per share of $0.52 for the first quarter of 2026, compared to net income of $2.5 million and $0.48 per share for the fourth quarter of 2025.
Highlights
- Return on average assets increased to 1.37% versus 1.23% in the prior quarter
- Net interest margin increased to 4.21% versus 3.98% in the prior quarter
- Tangible book value per share of $18.59, an increase of 1.4% in the first quarter
“I’m excited to share the first quarter results for the company, which reflect further expansion of our net interest margin, improved non-interest income, and continued management of our non-interest expense, all of which contributed to our increase in profitability for the first quarter,” reported Julia Beattie, President and CEO.
"We had a large loan prepayment of $10.0 million, which impacted the overall growth in our loan portfolio. The Bank was able to offset the prepayment with new loans booked, but the 0.1% increase in our loans was less than anticipated,” noted Beattie. As a result of the large prepayment, the Bank recognized income of $204 thousand of deferred fees plus a prepayment penalty during the quarter.
“Our deposits declined in the quarter by $8.6 million, a 1.3% decrease, which reflects the outflow of remaining balances from a large customer that began transitioning out of the Bank in the fourth quarter of 2025,” noted Beattie. “The Bank is focused on growing deposits for the balance of the year to support loan growth,” added Beattie.
During the first quarter, non-interest income increased by $166 thousand, with the increase primarily attributed to an increase in factoring revenue from our Steelhead Finance division of $136 thousand for the quarter. Non-interest expenses totaled $5.8 million in the first quarter, an increase of $19 thousand from the fourth quarter of 2025.
The Bank’s leverage ratio was 15.04% as of March 31, 2026, compared to 14.78% as of December 31, 2025. The Company’s tangible common equity was $94.3 million as of March 31, 2026, compared to $94.0 million as of December 31, 2025. During the first quarter, the Company completed stock repurchases for 50,841 shares at a weighted average price of $18.30 per share.
About PBCO Financial Corporation
PBCO Financial Corporation’s stock trades on the over-the-counter market under the symbol PBCO. Additional information about the Company is available in the investor section of the Company’s website.
Founded in 1998, People’s Bank of Commerce is a full-service, commercial bank headquartered in Medford, Oregon with branches in Albany, Ashland, Central Point, Eugene, Grants Pass, Jacksonville, Klamath Falls, Lebanon, Medford, and Salem.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:
This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by the use of words or phrases such as "believes," "expects," "anticipates," "foresees," "forecasts," "estimates," “plans,” “projects,” or other words or phrases of similar import indicating that the statement addresses some future result, occurrence, plan, or objective. Similarly, statements herein that describe People’s Bank’s business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied in forward-looking statements.
