{"id":474910,"date":"2021-04-12T16:08:20","date_gmt":"2021-04-12T20:08:20","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pcb-bancorp-announces-stock-repurchase-plan\/"},"modified":"2021-04-12T16:08:20","modified_gmt":"2021-04-12T20:08:20","slug":"pcb-bancorp-announces-stock-repurchase-plan","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pcb-bancorp-announces-stock-repurchase-plan\/","title":{"rendered":"PCB Bancorp Announces Stock Repurchase Plan"},"content":{"rendered":"<p>        <!--.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>PCB Bancorp Announces Stock Repurchase Plan<\/b><\/p>\n<p>LOS ANGELES&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nPCB Bancorp (the \u201cCompany\u201d) (NASDAQ: PCB), the bank holding company for Pacific City Bank, announced that on April 8, 2021, its Board of Directors approved a repurchase program authorizing for the repurchase up to 5% of the Company\u2019s outstanding common stock as of the date of the board meeting, which represented 775,000 shares, through September 7, 2021, with repurchases to commence shortly after the Company announces its unaudited results for the first quarter of 2021.\n<\/p>\n<p>\nUnder the stock repurchase program, the Company may purchase shares of its common stock through various means such as open market transactions, including block purchases, and privately negotiated transactions. The number of shares repurchased and the timing, manner, price and amount of any repurchases will be determined at the Company\u2019s discretion. Factors include, but are not limited to, stock price, trading volume and general market conditions, along with the Company\u2019s general business conditions. The program may be suspended or discontinued at any time and does not obligate the company to acquire any specific number of shares of its common stock.\n<\/p>\n<p>\nAs part of the stock repurchase program, the Company intends to enter into a trading plan adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The 10b5-1 trading plan would permit common stock to be repurchased at a time that the Company might otherwise be precluded from doing so under insider trading laws or self-imposed trading restrictions. The 10b5-1 trading plan will be administered by an independent broker and will be subject to price, market volume and timing restrictions.\n<\/p>\n<p><b><span class=\"bwuline\">About PCB Bancorp<\/span><\/b><\/p>\n<p>\nPCB Bancorp, formerly known as Pacific City Financial Corporation, is the bank holding company for Pacific City Bank, a California state chartered bank, offering a full suite of commercial banking services to small to medium-sized businesses, individuals and professionals, primarily in Southern California, and predominantly in Korean-American and other minority communities.\n<\/p>\n<p><b><span class=\"bwuline\">Cautionary Note Regarding Forward-Looking Statements<\/span><\/b><\/p>\n<p>\nThis press release contains forward-looking statements. These forward-looking statements represent plans, estimates, objectives, goals, guidelines, expectations, intentions, projections and statements of our beliefs concerning future events, business plans, objectives, expected operating results and the assumptions upon which those statements are based. Forward-looking statements include without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and are typically identified with words such as \u201cmay,\u201d \u201ccould,\u201d \u201cshould,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201cbelieve,\u201d \u201canticipate,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201caim,\u201d \u201cintend,\u201d \u201cplan,\u201d or words or phases of similar meaning. We caution that the forward-looking statements are based largely on our expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond our control, including but not limited to our borrowers\u2019 actual payment performance as loan deferrals related to the COVID-19 pandemic expire, changes to statutes, regulations, or regulatory policies or practices as a result of, or in response to the COVID-19 pandemic, including the potential adverse impact of loan modifications and payment deferrals implemented consistent with recent regulatory guidance, and the general economic uncertainty caused by the COVID-19 pandemic, and government and societal responses thereto. These and other important factors are detailed in various securities law filings made periodically by the Company, copies of which are available from the Company without charge. Actual results, performance or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements. Any forward-looking statements presented herein are made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise, except as required by law.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210412005756r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210412005756\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210412005756\/en\/<\/a><\/span><\/p>\n<p>\nTimothy Chang<br \/>\n<br \/>Executive Vice President &amp; Chief Financial Officer<br \/>\n<br \/>213-210-2000\n<\/p>\n<p><b>KEYWORDS:<\/b><\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Small Business Banking Professional Services Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210412005756\/en\/1072434\/3\/PCB_Bancorp_logo_Option_B.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>PCB Bancorp Announces Stock Repurchase Plan LOS ANGELES&#8211;(BUSINESS WIRE)&#8211; PCB Bancorp (the \u201cCompany\u201d) (NASDAQ: PCB), the bank holding company for Pacific City Bank, announced that on April 8, 2021, its Board of Directors approved a repurchase program authorizing for the repurchase up to 5% of the Company\u2019s outstanding common stock as of the date of the board meeting, which represented 775,000 shares, through September 7, 2021, with repurchases to commence shortly after the Company announces its unaudited results for the first quarter of 2021. Under the stock repurchase program, the Company may purchase shares of its common stock through various means such as open market transactions, including block purchases, and privately negotiated transactions. The number of shares repurchased and the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pcb-bancorp-announces-stock-repurchase-plan\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;PCB Bancorp Announces Stock Repurchase Plan&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-474910","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>PCB Bancorp Announces Stock Repurchase Plan - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pcb-bancorp-announces-stock-repurchase-plan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PCB Bancorp Announces Stock Repurchase Plan - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PCB Bancorp Announces Stock Repurchase Plan LOS ANGELES&#8211;(BUSINESS WIRE)&#8211; PCB Bancorp (the \u201cCompany\u201d) (NASDAQ: PCB), the bank holding company for Pacific City Bank, announced that on April 8, 2021, its Board of Directors approved a repurchase program authorizing for the repurchase up to 5% of the Company\u2019s outstanding common stock as of the date of the board meeting, which represented 775,000 shares, through September 7, 2021, with repurchases to commence shortly after the Company announces its unaudited results for the first quarter of 2021. Under the stock repurchase program, the Company may purchase shares of its common stock through various means such as open market transactions, including block purchases, and privately negotiated transactions. 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