PCB Bancorp Files 8-K on Operations and Financials

Ticker: PCB · Form: 8-K · Filed: Jul 25, 2024 · CIK: 1423869

Pcb Bancorp 8-K Filing Summary
FieldDetail
CompanyPcb Bancorp (PCB)
Form Type8-K
Filed DateJul 25, 2024
Risk Levellow
Pages4
Reading Time4 min
Key Dollar Amounts$0.18
Sentimentneutral

Sentiment: neutral

Topics: 8-K, financials, operations

TL;DR

PCB Bancorp dropped an 8-K on July 24th covering financials and operations.

AI Summary

On July 24, 2024, PCB Bancorp filed an 8-K report detailing significant events. The filing includes information on the company's results of operations and financial condition, as well as disclosures related to Regulation FD and other events. The report also contains financial statements and exhibits.

Why It Matters

This 8-K filing provides investors with crucial updates on PCB Bancorp's financial performance and operational status, enabling informed investment decisions.

Risk Assessment

Risk Level: low — This filing is a standard 8-K reporting routine operational and financial information, not indicating any immediate or unusual risks.

Key Players & Entities

  • PCB BANCORP (company) — Registrant
  • July 24, 2024 (date) — Date of earliest event reported
  • 3701 Wilshire Boulevard, Suite 900 Los Angeles, California 90010 (address) — Principal executive offices
  • PACIFIC CITY FINANCIAL CORP (company) — Former company name

FAQ

What is the primary purpose of this 8-K filing for PCB Bancorp?

The primary purpose is to report on the company's results of operations and financial condition, Regulation FD disclosures, other events, and to file financial statements and exhibits.

On what date was the earliest event reported in this filing?

The earliest event reported was on July 24, 2024.

What is PCB Bancorp's principal business address?

PCB Bancorp's principal office is located at 3701 Wilshire Boulevard, Suite 900, Los Angeles, California 90010.

Has PCB Bancorp undergone any name changes?

Yes, PCB Bancorp was formerly known as PACIFIC CITY FINANCIAL CORP, with a date of name change on January 14, 2008.

What is the SIC code for PCB Bancorp?

The Standard Industrial Classification (SIC) code for PCB Bancorp is 6022, which corresponds to Commercial Banks.

Filing Stats: 1,094 words · 4 min read · ~4 pages · Grade level 11.6 · Accepted 2024-07-25 16:20:18

Key Financial Figures

  • $0.18 — s declared a quarterly cash dividend of $0.18 per common share. The dividend will be

Filing Documents

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On July 25, 2024, PCB Bancorp, a California corporation (the "Company"), issued a press release concerning its unaudited results for the second quarter of 2024. A copy of the press release is attached as Exhibit 99.1 to this Current Report and is incorporated herein by reference. The information in this report set forth under this Item 2.02 and in Exhibit 99.1 shall not be treated as "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as expressly stated by specific reference in such filing.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. Attached as Exhibit 99.2, and incorporated herein by reference, is a copy of an investor presentation that may be utilized by management at future discussions with investors. The information in this report set forth under this Item 7.01 and in Exhibit 99.2 shall not be treated as "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except expressly stated by specific reference in such filing.

01 Other Events

Item 8.01 Other Events. Common Stock Dividend On July 25, 2024, the Company issued a press release announcing that on July 24, 2024, its Board of Directors declared a quarterly cash dividend of $0.18 per common share. The dividend will be paid on or about August 16, 2024, to shareholders of record as of the close of business on August 16, 2024. A copy of the press release is attached as Exhibit 99.3 to this Current Report and is incorporated herein by reference. Extension of Stock Repurchase Program On July 25, 2024, the Company issued a press release announcing that on July 24, 2024, its Board of Directors extend the Company's current stock repurchase program that was set to expire on August 2, 2024 to expire on August 1, 2025. As originally approved and announced on August 2, 2023, the stock repurchase program authorizes the repurchase of up to 720,000 shares of the Company's outstanding common stock, which was approximately 5% of the outstanding share as of that date The Company has repurchased and retired 142,223 shares of its common stock under the stock repurchase program, leaving an aggregate of 577,777 shares authorized for repurchase. Under the stock repurchase program, the Company may purchase shares of its common stock through various means such as open market transactions, including block purchases, and privately negotiated transactions. The number of shares repurchased and the timing, manner, price and amount of any repurchases will be determined at the Company's discretion. Factors include, but are not limited to, stock price, trading volume and general market conditions, along with the Company's general business conditions. The program may be suspended or discontinued at any time and does not obligate the company to acquire any specific number of shares of its common stock. As part of the stock repurchase program, the Company intends to enter into a trading plan adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as am

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. 99.1 Press release of PCB Bancorp, issued July 25, 2024, concerning the results of operations and financial condition for the second quarter of 2024 99.2 Investor presentation of PCB Bancorp concerning the unaudited results for the second quarter of 2024 99.3 Press release of PCB Bancorp, issued July 25, 2024, announcing the declaration of a quarterly cash dividend 99.4 Pre ss release of PCB Ban corp, issued July 25, 20 24, a nnouncing the amendment to the stock repurchase program 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PCB Bancorp Date: July 25, 2024 /s/ Timothy Chang Timothy Chang Executive Vice President and Chief Financial Officer 3

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