Pinnacle Bancshares has reported that its net income for the fourth quarter ended December 31, 2008, was $309,000, or $0.24 per share, compared to $57,000, or $0.04 per share, for the fourth quarter ended December 31, 2007.
Net interest income before the provision for loan losses for the fourth quarter of 2008, was $1.74m compared with $1.7m in the same period of 2007.
For the year ended December 31, 2008, net income was $1.23m, or $0.91 per share, compared to $1.09m, or $0.75 per share, for the year ended December 31, 2007.
Net interest income before the provision for loan losses for the year 2008, was $6.87 million, compared with $6.57m in the year 2007.
Total assets at December 31, 2008, were $225.78m compared to $235.94m at December 31, 2007.
Pinnacle Bank provides business, personal and online banking services. Its commercial account products allow easy access to funds and range from low cost basic non-interest-bearing transactional accounts, money market deposit accounts, savings accounts and certificate of deposit accounts that offer very competitive interest rates. The Bank has an array of checking accounts among them are low cost basic accounts, interest-bearing accounts, senior citizen accounts and money market accounts. Internet banking provides secure access to accounts. From office or home one can check balances, transfer funds.
