Pcb Bancorp (NASDAQ: PCB)

PCB Bancorp, also known as PCB Bank, is a commercial bank based in California that operates as a registered bank holding company. The company's primary business activities include providing a range of financial services, such as lending, deposit-taking, and investment activities, to small and middle-market businesses, as well as individuals.

PCB Bancorp's main business activities revolve around the provision of financial services. The company offers lending services, which include commercial real estate loans, commercial and industrial loans, and consumer loans. The majority of the company's loan portfolio consists of commercial real estate loans, which are secured by commercial properties such as office buildings, retail centers, and multifamily residential properties. The company also provides construction loans for the financing of new properties. PCB Bancorp's lending activities are focused on the California market, with a significant presence in Los Angeles and Orange Counties. The company has built a strong reputation for providing high-quality loans to its customers, with a focus on building long-term relationships and providing personalized service.

The company's loan portfolio is diversified across various industries, including manufacturing, wholesale and retail trade, hospitality, and healthcare. PCB Bancorp's lending activities are supported by a robust risk management framework, which includes strict underwriting standards, regular loan reviews, and a comprehensive credit monitoring process. The company's deposit base is primarily comprised of core deposits, which are low-cost and stable sources of funding. PCB Bancorp offers a range of deposit products, including demand, savings, money market, and time deposits, to its customers. The company's deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to the maximum amount currently allowable under federal law.

In addition to its lending and deposit-taking activities, PCB Bancorp also engages in investment activities designed to generate additional income and diversify its revenue streams. The company's investment portfolio is comprised primarily of SBA loan pools, mortgage-backed securities, and collateralized mortgage obligations backed by U.S. government agencies and government-sponsored enterprises. PCB Bancorp operates in a highly competitive market, with several other commercial banks and financial institutions offering similar products and services. However, the company's strong reputation, personalized service, and focus on building long-term relationships with its customers have helped it maintain a competitive edge in the market.

PCB Bancorp's customers include a diverse range of businesses and individuals, including small and middle-market businesses, as well as large corporations. The company's largest customers, excluding wholesale deposits, accounted for approximately 8.7% of its total deposits as of December 31, 2023. PCB Bancorp is headquartered in Los Angeles, California, and operates 11 full-service branches in Los Angeles and Orange Counties, California, three full-service branches on the East Coast, and seven limited-purpose offices (LPOs) located in various states. The company is a member of the Federal Home Loan Bank of San Francisco and the Federal Reserve Bank of San Francisco.

The company's employees are not represented by any collective bargaining group, and management considers its employee relations to be satisfactory. PCB Bancorp has long been committed to comprehensive and competitive compensation and benefits programs, which are designed to attract and retain a pool of talented and motivated employees. The company is subject to a comprehensive system of supervision, regulation, and enforcement by federal and state banking agencies, including the Federal Reserve, the FDIC, and the California Department of Financial Protection and Innovation (CDFPI). The company is required to maintain minimum capital levels and risk-based capital ratios, and is subject to regular examination by its regulators.

PCB Bancorp's capital ratios exceeded the minimum required levels as of December 31, 2023, and the company has not been classified as undercapitalized or significantly undercapitalized. The company is also subject to the prompt corrective action regulations, which require it to maintain minimum capital levels and risk-based capital ratios. PCB Bancorp is subject to the approval of the Federal Reserve and the CDFPI for certain transactions, including mergers and acquisitions. The company is also subject to the source of strength doctrine, which requires it to act as a source of financial and managerial strength to its subsidiary bank.

PCB Bancorp's brand names include PCB Bank, which is the company's subsidiary and provides a range of financial services to its customers. The company's trade names include Pacific City Bank, which was renamed PCB Bank in 2022, and Pacific City Financial Corporation, which was the company's corporate name before it was changed to PCB Bancorp in 2019.