Pinnacle Bankshares Corporation Announces Record High 2nd Quarter/Mid-Year 2026 Earnings

ALTAVISTA, Va., July 28, 2026 (GLOBE NEWSWIRE) -- Net income for Pinnacle Bankshares Corporation (OTCQX:PPBN), the one-bank holding company (the “Company” or “Pinnacle”) for First National Bank (the “Bank”), was $6,453,000, or $2.97 per basic and diluted share, for the second quarter of 2026 and $9,514,000, or $4.36 per basic and diluted share, for the six months ended June 30, 2026. In comparison, net income was $2,690,000, or $1.21 per basic and diluted share, and $4,951,000, or $2.23 per basic and diluted share, respectively, for the same periods of 2025. Net income for both time periods in 2026 was positively impacted by the sale of the Bank’s ownership interest in Bearing Insurance, LLC (Bearing Sale), which generated a pretax gain of $3,752,000 ($2,964,000 after tax). Consolidated results for the quarter and the year are unaudited.

Income Statement (Comparisons are to the Second Quarter and First Six Months of 2025) * 2(nd) QTR 2026 * Net Income increased 140% to $6,453,000 including the Bearing Sale. * Core 2(nd) QTR 2026 Net Income increased 30% to $3,489,000, excluding the Bearing Sale, which is a record quarterly high.