ALTAVISTA, Va., Feb. 13, 2026 (GLOBE NEWSWIRE) -- Pinnacle Bankshares Corporation (“Pinnacle” or the “Company”) (OTCQX: PPBN), the one-bank holding company for First National Bank (the “Bank”), announced today that its Board of Directors declared a cash dividend of $0.28 per share on February 10, 2026, payable March 6, 2026, to shareholders of record as of February 20, 2026.
The $0.28 per share cash dividend is equal to the $0.28 paid last quarter and marks the fifty-fourth consecutive quarter that a dividend has been declared.
Also on February 10, 2026, the Board approved implementation of a Stock Repurchase Plan authorizing the repurchase of up to $3,500,000 of the Company’s outstanding common shares through December 31, 2026. The Company may repurchase shares, from time to time at management’s discretion, through open market purchases, block trades, and privately-negotiated purchases, including pursuant to a trading plan in accordance with Rule 10b5-1 promulgated under the Securities Exchange Act of 1934, as amended, as appropriate opportunities are presented. The actual means and timing of repurchases, as well as the number of shares repurchased under the plan, will depend on a variety of factors, the availability of stock, general market and economic conditions, the trading price of the Company’s common stock, alternative uses for capital, the Company’s capital ratios, financial condition and liquidity position, and applicable legal and regulatory requirements. The stock repurchase plan may be suspended, modified or discontinued at any time, and the Company has no obligation to repurchase any amount of its common stock under the plan.
“We are pleased to provide the cash dividend and announce implementation of a stock repurchase plan,” stated Aubrey H. Hall, III, President and Chief Executive Officer for both the Company and the Bank. Mr. Hall further commented, “The plan is intended to position Pinnacle to pursue appropriate stock acquisition opportunities that provide potential to further enhance shareholder returns.”
Company Information
Pinnacle Bankshares Corporation is a locally managed community banking organization serving Central and Southern Virginia. The one-bank holding company of First National Bank serves market areas consisting primarily of all or portions of the Counties of Amherst, Bedford, Campbell, Halifax, and Pittsylvania, and the Cities of Charlottesville, Danville, and Lynchburg. The Company has a total of nineteen branches with one branch in Amherst County within the Town of Amherst, two branches in Bedford County; five branches in Campbell County, including two within the Town of Altavista, where the Bank was founded; one branch in the City of Charlottesville, three branches in the City of Danville; three branches in the City of Lynchburg; and three branches in Pittsylvania County, including one within the Town of Chatham. The Bank opened a full-service branch in the South Boston area of Halifax County in January of this year, where it also continues to operate a commercial loan production office. First National Bank is in its 118th year of operation.
This press release may contain “forward-looking statements” within the meaning of federal securities laws that involve significant risks and uncertainties. Any statements contained herein that are not historical facts are forward-looking and are based on current assumptions and analysis by the Company. These forward-looking statements, including statements made in Mr. Hall’s quotes may include, but are not limited to, statements regarding the Company’s stock repurchase plan, shareholder returns, future operating results and business performance. Although we believe our plans and expectations reflected in these forward-looking statements are reasonable, our ability to predict results or the actual effect of future plans or strategies is inherently uncertain, and we can give no assurance that these plans or expectations will be achieved. Factors that could cause actual results to differ materially from management's expectations include, but are not limited to: changes in consumer spending and saving habits that may occur, including due to inflation and changing interest rates; changes in general business, economic and market conditions; attracting, hiring, training, motivating and retaining qualified employees; changes in fiscal and monetary policies, and laws and regulations; changes in interest rates, inflation rates, deposit flows, loan demand and real estate values; changes in the quality or composition of the Company’s loan portfolio and the value of the collateral securing loans; changes in macroeconomic trends and uncertainty, including liquidity concerns at other financial institutions, and the potential for local and/or global economic recession; changes in demand for financial services in Pinnacle’s market areas; increased competition from both banks and non-banks in Pinnacle’s market areas; a deterioration in credit quality and/or a reduced demand for, or supply of, credit; increased information security risk, including cyber security risk, which may lead to potential business disruptions or financial losses; volatility in the securities markets generally, including in the value of securities in the Company’s securities portfolio or in the market price of Pinnacle common stock specifically; and other factors, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. These risks and uncertainties should be considered in evaluating the forward-looking statements contained herein, and you should not place undue reliance on such statements, which reflect our views as of the date of this release.
CONTACT: Pinnacle Bankshares Corporation, Bryan M. Lemley, 434-477-5882 or bryanlemley@1stnatbk.com
