Altavista-based First National Bank reports 2Q profit

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July 11, 2019

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The Altavista-based parent company of First National Bank reported Wednesday a second-quarter profit of $1.368 million, or 89 cents per basic share and 87 cents per diluted share, up from a profit of $1.115 million, or 72 cents per basic and diluted share, during the same quarter last year.

Total assets for the parent company, Pinnacle Bankshares, at the end of the second quarter were $481.23 million, up from $470.61 million at the end of 2018. Total deposits were $432.8 million, up from $425.28 million at the end of 2018. Stockholder equity rose to $45.33 million.

“We are pleased to report the highest six month net income in Pinnacle’s history,” President and CEO Todd Hall said in a news release, which noted the company record-high six-month profit of $2.669 million.