PB Financial Corporation Declares Third Quarter 2022 Dividend

July 7, 2022

Rocky Mount, North Carolina… 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 $0.31 per share on common stock outstanding to shareholders of record at the close of business on August 1, 2022. The dividend is payable August 22, 2022. This is an increase of approximately 19.23% from the dividend paid during the 3rd quarter of 2021. This represents a $1.24 dividend on an annual basis and a yield of 3.20% (based on closing price on July 6, 2022, of $38.75/share).

Whitehurst commented, “This represents our 43rd consecutive quarterly cash dividend. Our consistent financial performance has allowed us to increase our cash dividend each quarter since we began paying dividends in the 1 st quarter of 2012. This increase in our quarterly cash dividend is part of our continued strategy to enhance shareholder value which we believe sets us apart from other community banks.”

PB Financial Corporation is headquartered at 450 N. Winstead Avenue in Rocky Mount, North Carolina. As of June 30, 2022, PB Financial Corporation had total assets of $748.4 million, loans of $584.3 million and total deposits of $603.3 million.