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 www.pinnaclebankonline.com click on Investor Relations and December 2012 call report.
Forward-Looking StatementsThis 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||
|Allowance for loan losses||(3,611||)||(2,771||)||(840||)||30||%|
|Summary Income Statement|
|(Unaudited, dollars in thousands||Year ended||Year ended|
|except per share data)||12/31/2012||12/31/2011||
|Net interest income||6,859||6,515||344||5.3||%|
|Provision for loan losses||1,438||233||1,205||517.2||%|
|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|
|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%|