Filing Analysis
PCB Bancorp filed this Amendment No. 1 to its previous 8-K to correct inadvertent errors in the Time Deposit Maturity Table within an investor presentation. All other previously disclosed information, including earnings and dividend declarations, remains unchanged.
🚩 Red Flags
- Inadvertent error in financial data presentation (though limited to a maturity table rather than core income statement figures).
📋 Key Facts
- Filing is an Amendment (Form 8-K/A) to a report filed on July 23, 2026.
- The correction specifically addresses the 'Time Deposit Maturity Table' in Exhibit 99.2 (Investor Presentation).
- Earnings release for Q2 2026 and dividend declaration press releases remain valid and unchanged.
PCB Bancorp filed an 8-K to announce its unaudited second quarter 2026 financial results, provide an investor presentation, and declare a quarterly cash dividend.
📋 Key Facts
- Declared a quarterly cash dividend of $0.22 per common share on July 22, 2026.
- Dividend record date is August 7, 2026; payment expected on or about August 14, 2026.
- Released unaudited Q2 2026 financial results via press release (Exhibit 99.1).
- Provided an investor presentation regarding Q2 2026 performance (Exhibit 99.2).
PCB Bancorp issued an 8-K to report its unaudited third quarter 2025 financial results, provide an investor presentation, and announce a quarterly cash dividend.
📋 Key Facts
- Company released unaudited Q3 2025 financial results on October 23, 2025.
- Board of Directors declared a quarterly cash dividend of $0.20 per common share on October 22, 2025.
- Dividend record date is November 7, 2025; payment date is on or about November 14, 2025.
PCB Bancorp announced its Q2 2025 financial results, declared a quarterly cash dividend of $0.20 per share, and extended its existing stock repurchase program through July 31, 2026.
📋 Key Facts
- Declared a quarterly cash dividend of $0.20 per common share on July 23, 2025.
- Dividend payable on or about August 15, 2025, to shareholders of record as of August 8, 2025.
- Extended the term of the stock repurchase program until July 31, 2026.
- As of July 23, 2025, 291,527 shares have been repurchased and retired under the current program.
- 428,473 shares remain available for repurchase under the extended program.
PCB Bancorp has announced that its unaudited consolidated financial statements for the period ended March 31, 2025, should no longer be relied upon due to an error in accounting for a preferred stock purchase option. The company expects to restate total assets and shareholders' equity downward by $35,778,000.
🚩 Red Flags
- Restatement of previously issued financial statements (Item 4.02)
- Identification of a material weakness in internal control over financial reporting
- Significant reduction ($35.78M) in total assets and shareholders' equity
📋 Key Facts
- The error stems from the incorrect valuation of a purchase option under ASC 815/ASC 505 regarding an Emergency Capital Investment Program with the U.S. Treasury.
- The company will restate March 31, 2025, financial statements to reflect a $35,778,000 decrease in both total assets and total shareholders' equity.
- Management has identified a material weakness in internal control over financial reporting related to this error.
- The error does not affect the Consolidated Statements of Income (net income, EPS, or net interest margin) for the period.
- The company plans to amend its Form 10-Q for the quarter ended March 31, 2025.
PCB Bancorp held its annual meeting of shareholders on May 28, 2025. The results included the election of eight directors and the approval of executive compensation and the appointment of Crowe LLP as independent auditors.
📋 Key Facts
- Annual meeting held on May 28, 2025.
- Total shares outstanding as of March 31, 2025: 14,387,176.
- Quorum reached with 10,416,945 shares voted (72.40% of outstanding shares).
- Eight nominees were elected to the Board of Directors.
- Advisory vote on executive compensation was approved.
- Ratification of Crowe LLP as independent registered public accounting firm for FY 2025 was approved.
PCB Bancorp received a notice from Nasdaq for failing to timely file its Form 10-Q for the quarter ended March 31, 2025. The delay is due to complexities in valuing a Securities Purchase Option Agreement related to Series C Preferred Stock issued to the U.S. Treasury.
🚩 Red Flags
- Delisting notice (Nasdaq non-compliance)
- Failure to file required periodic financial reports (Form 10-Q)
- Complexity in valuing instruments involving U.S. Treasury/Emergency Capital Investment Program, suggesting potential accounting/valuation risks.
📋 Key Facts
- Received Nasdaq notice on May 22, 2025, for non-compliance with Listing Rule 5250(c)(1) regarding timely periodic reporting.
- The delay is specifically due to the valuation of a Securities Purchase Option Agreement for Series C Preferred Stock issued under the Emergency Capital Investment Program.
- The Company has 60 calendar days from May 22, 2025, to submit a plan to regain compliance.
- If a plan is accepted, Nasdaq may grant up to 180 days from the original due date to file the Form 10-Q.
PCB Bancorp filed an 8-K to announce its unaudited Q1 2025 financial results, provide an investor presentation, and declare a quarterly cash dividend.
📋 Key Facts
- Declared a quarterly cash dividend of $0.20 per common share on April 23, 2025.
- Dividend record date is May 9, 2025; payment expected on or about May 16, 2025.
- Released unaudited results for the first quarter of 2025 (Item 2.02).
- Provided an investor presentation via Regulation FD disclosure (Item 7.01).
PCB Bancorp filed an 8-K to announce unaudited Q4 2024 financial results, provide an investor presentation, and declare a quarterly cash dividend.
📋 Key Facts
- Declared a quarterly cash dividend of $0.20 per common share on January 29, 2025.
- Dividend record date is February 14, 2025; payment expected on or about February 21, 2025.
- Released unaudited results for the fourth quarter of 2024 via press release (Exhibit 99.1).
- Provided an investor presentation regarding Q4 2024 results (Exhibit 99.2).
PCB Bancorp filed an 8-K to announce its unaudited third quarter 2024 financial results, provide an investor presentation, and declare a quarterly cash dividend.
📋 Key Facts
- Declared a quarterly cash dividend of $0.18 per common share on October 23, 2024.
- Dividend record date is November 8, 2024; payment expected on or about November 15, 2024.
- Released unaudited Q3 2024 financial results via press release (Exhibit 99.1).
- Provided an investor presentation regarding Q3 2024 performance (Exhibit 99.2).
PCB Bancorp announced its Q2 2024 unaudited results, declared a quarterly cash dividend of $0.18 per share, and extended its existing stock repurchase program through August 1, 2025.
📋 Key Facts
- Declared a quarterly cash dividend of $0.18 per common share on July 24, 2024.
- Dividend payable on or about August 16, 2024, to shareholders of record as of August 16, 2024.
- Extended the stock repurchase program expiration from August 2, 2024, to August 1, 2025.
- The original program authorizes up to 720,000 shares (approx. 5% of outstanding shares).
- As of the filing date, 142,223 shares have been repurchased and retired, leaving 577,777 shares remaining in the program.
- The company intends to utilize a Rule 10b5-1 trading plan for future repurchases.
PCB Bancorp held its annual meeting of shareholders on May 23, 2024. The filing reports the results of various shareholder votes, including director elections and bylaw amendments.
📋 Key Facts
- Annual meeting held on May 23, 2024; 66.47% of outstanding shares were represented in the vote (9,481,582 shares).
- Shareholders approved an amendment to the bylaws authorizing a range of seven to 13 directors.
- Eight nominees were elected to the Board of Directors: Kijun Ahn, Daniel Cho, Haeyoung Cho, Janice Chung, Henry Kim, Sang Young Lee, Hong Kyun “Daniel” Park, and Don Rhee.
- Shareholders approved an advisory vote on executive compensation (Say-on-Pay).
- The Board decided to hold future non-binding advisory votes on executive compensation every year.
- Crowe LLP was ratified as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024.
PCB Bancorp filed an 8-K to announce its unaudited Q1 2024 financial results, provide an investor presentation, and declare a quarterly cash dividend.
📋 Key Facts
- Unaudited results for the first quarter of 2024 were released on April 25, 2024.
- The Board of Directors declared a quarterly cash dividend of $0.18 per common share.
- Dividend record date is May 10, 2024; payment date is on or about May 17, 2024.
PCB Bancorp issued an 8-K to report its unaudited fourth quarter 2023 financial results, provide an investor presentation, and announce a quarterly cash dividend.
📋 Key Facts
- Released unaudited results for the fourth quarter of 2023 on January 25, 2024.
- Declared a quarterly cash dividend of $0.18 per common share.
- Dividend record date is February 9, 2024; payment expected on or about February 16, 2024.