• Think of it as a regional bank like **PNC Bank**, but with a concentrated focus on small to medium-sized businesses and individuals primarily in Southern California.
• It's similar to a more accessible **City National Bank**, serving a broader range of small to medium-sized businesses and individuals in Southern California.

• Deposit Accounts: The company offers various types of accounts including demand, savings, money market, and time deposits, as well as certificates of deposit for individuals and businesses.
• Real Estate Loans: Provides financing for commercial and residential properties, Small Business Administration (SBA) property, and construction projects.
• Commercial & Industrial (C&I) Loans: Offers commercial term loans, lines of credit, and SBA commercial term loans to support business operations and growth.
• Consumer Loans: Includes automobile secured loans and personal loans for individual financial needs.
• Treasury Management Services: Features include remote deposit capture, positive pay, zero balance accounts, sweep accounts, wire transfers, and automated clearing house (ACH) services for efficient cash management.
• Digital Banking Services: Provides online and mobile banking solutions for account management, transfers, bill payment, and remote check deposit.

PCB Bancorp (symbol: PCB) primarily provides banking products and services to the following categories of customers:

• Small to medium-sized businesses
• Individuals
• Professionals

Henry Kim, President and Chief Executive Officer

Henry Kim was appointed President and Chief Executive Officer of PCB Bancorp and PCB Bank in January 2018. He is also a founding team member of Pacific City Bank, established in 2003, having served as Chief Credit Officer, Chief Operating Officer, and Corporate Secretary since its formation. Under his leadership, the company's total assets grew from $1.44 billion at the end of 2017 to $3.06 billion at the end of 2024. He spearheaded the expansion of the Bank's branch network across Southern California and into the New York City metropolitan area, as well as the establishment of an extensive loan production office network in seven states. Kim successfully took the company public in August 2018. He also founded Ecoservice, Inc. in 2010, where he held the position of Chief Operating Officer.

Timothy Chang, Executive Vice President and Chief Financial Officer

Timothy Chang has served as the Executive Vice President and Chief Financial Officer of PCB Bancorp and PCB Bank since joining the company in 2010. In this role, he is responsible for all aspects of financial reporting, including strategic planning, asset/liability management, taxation, and regulatory filings. Chang has over 22 years of commercial banking experience. Prior to his current role, he served as Executive Vice President and Chief Financial Officer of Mirae Bank, Senior Vice President and Chief Planning Officer of Hanmi Bank, and Senior Vice President, Chief Financial Officer, and Treasurer of Nara Bank.

Sang Young Lee, Chairman of the Board

Sang Young Lee is a founding director of PCB Bancorp and PCB Bank, having served since 2007, and currently holds the position of independent Chairman of both Boards. He previously served as Chairman from 2009 to 2012. Since 1988, Lee has been the President and Chief Executive Officer of Lee's Gold & Diamond Import, Inc., a company specializing in the wholesale distribution of jewelry products. He is also the largest individual shareholder of PCB Bancorp.

Andrew Chung, Executive Vice President and Chief Risk Officer

Andrew Chung joined PCB Bank in April 2018 as Executive Vice President and Chief Risk Officer, and also serves as the Corporate Secretary of PCB Bancorp. He brings over 27 years of experience in banking and financial services. Before joining PCB Bank, Chung served as Executive Vice President and Chief Financial Officer of Uniti Financial Corporation and Uniti Bank from November 2013 to April 2018. His prior roles also include Senior Vice President and Controller of Wilshire Bank from July 2011 to October 2013, and Senior Vice President and Chief Financial Officer of PCB Bank from October 2005 to April 2010.

Brian Bang, Executive Vice President and Chief Credit Officer

Brian Bang has been the Executive Vice President and Chief Credit Officer of PCB Bank since January 2022. He joined the Bank in 2005 and previously held positions as Senior Vice President & Deputy Chief Credit Officer from 2014 to 2017, and Senior Vice President and Chief Credit Officer from 2018 to 2021. Prior to 2014, Bang served as a Senior Loan Officer and Credit Administration Manager. He also gained experience in loan officer positions at other Korean-American banks in Southern California.

The key risks to PCB Bancorp's business operations include credit risk, challenges related to funding costs and liquidity, and intense competition within its market. These factors can significantly impact the bank's financial performance and stability.

• Credit Risk Management: PCB Bancorp's profitability and stability are heavily reliant on its ability to effectively manage credit risk. As a bank, its core business involves providing various types of loans, including real estate, commercial and industrial, and consumer loans. The success of its operations is directly tied to the quality of its loan portfolio and its ability to mitigate potential loan losses.
• Funding Costs and Liquidity Volatility: The company faces significant challenges related to funding costs and maintaining liquidity. Geopolitical factors, inflationary pressures, and a competitive environment have led to heightened funding costs and increased liquidity volatility across the banking industry. A notable aspect of this risk is the substantial portion of uninsured deposits, which stood at 41.3% of its total deposit base as of the second quarter of 2025. This necessitates PCB Bancorp to offer competitive rates to retain its deposit base, directly impacting its cost of funds and overall profitability.
• Intense Competition: PCB Bancorp operates in a highly competitive banking landscape, particularly among Korean-American banks. This intense rivalry, coupled with the low switching costs for commercial customers seeking better loan terms, puts continuous pressure on the bank. The ease with which commercial clients can move their business to competitors means PCB Bancorp must consistently offer superior service and competitive products to maintain and grow its customer base and market share.

The rise of digital-only banks (neobanks) and specialized fintech lending platforms presents a clear emerging threat to traditional regional banks like PCB Bancorp. These digital-first competitors leverage technology to offer highly competitive interest rates on deposits, lower fees, faster loan approvals, and superior mobile and online user experiences. This business model directly challenges PCB Bancorp's traditional branch-based operations and physical footprint by attracting tech-savvy individuals and small to medium-sized businesses who prioritize convenience, speed, and cost-efficiency over a physical branch presence for their banking needs.

PCB Bancorp provides banking products and services primarily to small to medium-sized businesses, individuals, and professionals in Southern California, with additional branches in New Jersey and New York, and loan production offices in various other states. The addressable markets for its main products and services can be estimated as follows:

Deposits

The collective assets of the 50 largest banks headquartered in Southern California totaled approximately $412 billion as of December 31, 2024. While total deposits in California saw an 18.0% decline between June 30, 2022, and June 30, 2025, the overall commercial banking sector in California is projected to grow to approximately $765.53 billion in 2026 and $954.48 billion by 2031, growing at a 4.51% CAGR over 2026-2031.

Real Estate Loans (Commercial and Residential)

The market size for the Real Estate Loans & Collateralized Debt industry in California is estimated at $62.3 billion in 2026, with an average annual growth rate of 6.6% from 2020 to 2025. Nationally, the U.S. Real Estate Loan Market was valued at $3.5 trillion in 2024 and is projected to reach $11.4 trillion by 2024 and $35.4 trillion by 2034, demonstrating a compound annual growth rate (CAGR) of 12.00% from 2025 to 2034. North America, dominated by the United States, held over 33.2% of the global real estate loan market share in 2024, generating $3.78 trillion in revenue. The residential segment constitutes a significant portion, accounting for over 61% of the total real estate loan market share in 2024.

For commercial real estate specifically, total commercial real estate (CRE) mortgage borrowing and lending in the U.S. was estimated at $498 billion in 2024, a 16% increase from $429 billion in 2023. Multifamily properties had the highest volume within CRE lending, with an estimated $326 billion in 2024. Banks were prominent in non-agency loan closings in Q1 2025, securing a 34% share. Los Angeles, a key operating region for PCB Bancorp, is a competitive market for commercial property loans, particularly for multifamily and office properties.

Small Business Administration (SBA) Loans

The U.S. small business loan market was valued at $245.39 billion in 2023 and is projected to reach $349.64 billion by 2033, growing at a CAGR of 3.4% from 2024 to 2033. In fiscal year 2025, the SBA guaranteed 84,400 loans, totaling $45 billion in capital for small businesses. Notably, SBA 7(a) loan approvals reached $8.8 billion in the first quarter of the federal fiscal year 2025, a 38% increase from the previous year. The second quarter of FY2025 saw over $10 billion in approvals.

Other Consumer Loans (Automobile Secured Loans and Personal Loans)

In California, outstanding auto loans have shown consistent growth since the Great Recession, with average origination amounts increasing by 64% over the last ten years as of Q3 2022. The overall United States Loan Market, which includes various consumer loan types, was valued at $1,123.45 billion in 2024 and is expected to reach $1,872.45 billion by 2030, with a CAGR of 16.23% during that forecast period.

PCB Bancorp (NASDAQ: PCB) is expected to drive future revenue growth over the next two to three years through several key strategies focused on its core banking operations.

One primary driver will be the **continued growth in its loan portfolio**, fueled by strong loan demand. The company reported a total loan growth of $70 million, or 10% on an annualized basis, in the fourth quarter of 2025, indicating robust demand for its lending products.

Secondly, the **optimization and expansion of Net Interest Income (NII)** will be crucial. PCB Bancorp's record earnings in the third quarter of 2025 were primarily attributed to increases in its net interest income. Despite recent interest rate fluctuations, the bank successfully maintained its net interest margin at 3.28% in Q4 2025, demonstrating effective interest rate management.

Thirdly, the **generation of non-interest income, particularly through the sale of SBA loans**, is anticipated to contribute significantly. The gain on the sale of Small Business Administration (SBA) loans was explicitly highlighted as a key factor in achieving record earnings in Q3 2025.

Finally, **strategic deposit gathering and management** will support revenue growth by funding loan expansion and maintaining a favorable cost of funds. While there was a reduction in brokered deposits in Q4 2025, the bank experienced strong deposit growth in Q3 2025, underscoring the importance of attracting and retaining stable deposits.

Share Repurchases

• On August 2, 2023, PCB Bancorp adopted a stock repurchase program authorizing the repurchase of up to 720,000 shares of its outstanding common stock.
• As of July 23, 2025, the company had repurchased and retired 291,527 shares under the stock repurchase program.
• The stock repurchase program was extended on July 23, 2025, to expire on July 31, 2026, with an aggregate of 428,473 shares remaining authorized for repurchase.

Capital Expenditures

• In Q3 2025, PCB Bancorp invested $247,000 in capital expenditures, which represented a 76.9% decrease from the prior quarter and was primarily allocated to funding long-term assets and infrastructure.