Pinnacle Bank reports 146-percent growth in 2012 earnings
February 19, 2013
GREENVILLE, SC – February 19, 2013 – PBSC Financial Corporation, the Greenville-based holding company for Pinnacle Bank of South Carolina, announced a consolidated net income of $1,214,451 for the year ended December 31, 2012. Compared to 2011 earnings of $495,014, the posted growth represents an increase of 146-percent over prior year’s earnings.
Pinnacle Bank President and CEO, David Barnett, stated we are very proud of our results in what continues to be very weak economic recovery. Our results were bolstered by better than expected credit quality and very strong mortgage demand, but just as importantly by our team of dedicated employees who are focused on serving our community very day.
Pinnacle Bank also reported an increase in the number of accounts being opened as customers are making the choice to switch to a community bank. As of year-end, the bank’s total assets grew 16.5-percent for the 12-month period to $158 million.
Pinnacle Bank offers a full range of personal and business banking services at locations in both Greenville and Powdersville. For more information, visit www.PinnacleBankSC.com.
