PB Financial Corporation Declares First-Quarter, 2023 Dividend

ROCKY MOUNT, NC / ACCESSWIRE / January 30, 2023 / Ted E. Whitehurst, President and CEO of PB Financial Corporation (OTCQX:PBNC), the holding company for Providence Bank, announced today that the Board of Directors approved a quarterly cash dividend of $0.40 per share on common stock outstanding to shareholders of record at the close of business on February 7, 2023. The dividend is payable February 23, 2023. This is an increase of 42.86% from the dividend paid during the 1st quarter of 2022. This represents a $1.60 dividend on an annual basis and a yield of 3.75% (based on the closing price on January 27, 2023 of $42.625/share).

Whitehurst commented, "This represents our 45^th consecutive quarterly cash dividend. Our consistent financial performance has allowed us to increase our cash dividend every quarter since we began paying dividends in the 1^st quarter of 2012. Increasing our cash dividend continues to be an important part of our strategy to enhance shareholder value."

PB Financial Corporation is headquartered at 450 N. Winstead Avenue in Rocky Mount, North Carolina, with branches in Rocky Mount, Tarboro, Nashville, Wilson and Raleigh. As of December 31, 2022, PB Financial Corporation had total assets of $849.2 million, loans of $687.7 million and total deposits of $674.0 million.

For more information, contact:

Ted E. Whitehurst, President and CEO
252-467-2990; twhitehurst@pbknc.com

www.pbknc.com

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding PB Financial Corporation. Those statements may include but are not limited to statements regarding the Company's plans, objectives, expectations and intentions and other statements identified by words such as "believes," "considers," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects," "would be," and similar expressions. These statements are based upon current beliefs and expectations of management of PB Financial Corporation and are subject to significant risks and uncertainties. Actual or future results or events may differ from those set forth in the forward-looking statements. PB Financial Corporation does not undertake to update any forward-looking statements in this press release. The information as of and for the quarter ended December 31, 2022 as presented is unaudited.

SOURCE: PB Financial Corporation