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Pinnacle Bank Announces 2012 Results

The bank’s capital position remains above regulatory guidelines for well capitalized banks. At December 31, 2012, the Bank had a total risk based capital ratio of 11.74%.

About Pinnacle Bank

Pinnacle Bank is a full-service business bank dedicated to providing quality depository and credit services in Santa Clara, San Benito and Monterey counties. The bank focuses on commercial banking services for small to medium-sized businesses, offering a variety of products and services that combine the best of personal touch with convenient technology-based delivery. Pinnacle Bank has locations in Morgan Hill, Gilroy and Salinas. For more information please go to click on Investor Relations and December 2012 call report.

Forward-Looking Statements

This release may contain forward-looking statements, such as, among others, statements about plans, expectations and goals concerning growth and improvement. Forward-looking statements are subject to risks and uncertainties. Such risks and uncertainties may include, but are not necessarily limited to fluctuations in interest rates, inflation, government regulations and general economic conditions, including the real estate market in our primary service area and more generally in California and other factors beyond the Bank's control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. Readers should not place undue reliance on the forward-looking statements, which reflect management's view only as of the date hereof. Pinnacle Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

Summary Balance Sheet
(Unaudited, dollars in thousands) 12/31/2012 12/31/2011


$ Change

% Change
Total assets $ 170,195 $ 154,911 $ 15,284 10 %
Gross loans 138,018 131,800 6,218 5 %
Allowance for loan losses (3,611 ) (2,771 ) (840 ) 30 %
Non-interest bearing 48,961 35,675 13,286 37 %
Interest-bearing 103,519 102,042 1,477 1 %
Total deposits 152,480 137,717 14,763 11 %
Shareholders' equity 16,627 16,382 245 1 %


Summary Income Statement
(Unaudited, dollars in thousands Year ended Year ended
except per share data) 12/31/2012 12/31/2011


$ Change

% Change
Interest income $ 7,356 $ 7,268 $ 88 1.2 %
Interest expense 497 753 (256 ) -34.0 %
Net interest income 6,859 6,515 344 5.3 %
Provision for loan losses 1,438 233 1,205 517.2 %
Non-interest income 824 597 227 38.0 %
Non-interest expense 6,028 6,328 (300 ) -4.7 %
Income tax expense 27 0 27
Net income (loss) $ 190 $ 551 $ (361 ) -65.5 %
Basic earnings per share $ 0.06 $ 0.20
Diluted earnings per share $ 0.04 $ 0.20
Income before provision and taxes $ 1,655 $ 784 $ 871 111.1 %
Net interest margin 4.54 % 4.50 %
required to be
Capital Ratios 12/31/2012     12/31/2011     well-capitalized
Tier 1 leverage ratio 9.80% 10.11% 5.00%
Tier 1 risk-based capital ratio 10.47% 11.18% 6.00%
Total risk-based capital ratio 11.74% 12.43% 10.00%

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