PCB Bancorp Board Approves 700,000 Share Buyback Program

The Board of Directors of PCB Bancorp (NASDAQ: PCB) approved a share repurchase program authorizing the company to buy back up to 700,000 shares of its common stock, according to a Regulation FD disclosure dated September 28, 2026. The holding company for PCB Bank stated it may purchase these shares through open market transactions, including block purchases, or privately negotiated transactions. Management indicated that the timing, manner, price, and amount of any repurchases will be determined at the company's discretion, taking into account stock price, trading volume, general market conditions, and the company's general business conditions.

The authorization remains valid through September 22, 2027, though the program may be modified, discontinued, or suspended at any time without prior notice. The approval does not obligate PCB Bancorp to purchase any specific number of shares. To facilitate the buyback, the company intends to enter into a trading plan adopted in accordance with Rule 10b5-1 of the Exchange Act. This plan would permit repurchases at times when the company might otherwise be precluded from trading due to insider trading laws or self-imposed trading restrictions. An independent broker will administer the 10b5-1 trading plan, which is subject to price, market volume, and timing restrictions.

PCB Bank is a California state chartered bank that provides commercial banking services to small and medium-sized businesses, individuals, and professionals. The bank operates primarily in Southern California, with a focus on serving Korean-American and other minority communities. The company's release includes cautionary notes regarding forward-looking statements. It warns that actual results could differ materially from expectations due to various risks, including economic conditions, real estate market developments, inflation levels, interest rates, and geopolitical conflicts. Other cited risks include changes in monetary policy, internal control weaknesses, trade policies, deposit base maintenance, loan demand, liquidity management, and cybersecurity threats. These factors are detailed in the company's Annual Report on Form 10-K for the year ended December 31, 2025.