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Last $0.0006 USD
Change Today 0.00 / 0.00%
Volume 0.0
PNNB On Other Exchanges
Symbol
Exchange
OTC US
As of 4:30 PM 04/13/15 All times are local (Market data is delayed by at least 15 minutes).

pinnacle bank of oregon (PNNB) Snapshot

Open
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Previous Close
$0.0006
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52 Week High
02/12/15 - $0.0030
52 Week Low
08/22/14 - $0.0005
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Average Volume 10 Days
0.0
EPS TTM
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Shares Outstanding
1.0M
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P/E TM
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Current Stock Chart for PINNACLE BANK OF OREGON (PNNB)

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pinnacle bank of oregon (PNNB) Details

Pinnacle Bank of Oregon (Beaverton) was founded in 2002 and is based in Beaverton, Oregon.

Founded in 2002

pinnacle bank of oregon (PNNB) Top Compensated Officers

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pinnacle bank of oregon (PNNB) Key Developments

Pinnacle Bank Enters into a Loan Agreement with US Bank, National Association

On February 4, 2015, Pinnacle Bank entered into a loan agreement with US Bank, National Association ('Lender'), pursuant to which the bank borrowed $40 million. Borrowings under the loan agreement, combined with available cash, were used by the bank to fund its investment in Bankers Healthcare Group, LLC. The bank's borrowings under the loan agreement bear interest at rates at the greater of 0% and the one-month LIBOR rate quoted by Lender, plus in each case an applicable margin. The applicable margin under the loan agreement ranges from 1.65% (165 basis points) to 1.95% (195 basis points) depending on the total aggregate principal amount outstanding under the loan agreement. The initial applicable margin is 1.95% (195 basis points). The bank is required to make quarterly principal payments of $1.0 million beginning on June 30, 2015, and the loan matures on February 28, 2020. The bank is permitted to prepay all or a portion of the principal amount outstanding under the loan agreement without penalty (in minimum aggregate amounts of $100,000) at any time so long as no event of default or unmatured event of default has occurred and is continuing.

Berger & Montague Says Justice Dept. Joins Whistleblower Lawsuit against Pinnacle Bank

The Justice Department announced that the United States has joined a whistleblower lawsuit against Pinnacle Bank. The company said that the lawsuit was filed by a whistleblower represented by Shauna Itri and Dan Miller of Berger & Montague, P.C. Also representing the whistleblower is Stephen Simonton, of Stephen L. Simonton, P.C., a Cody, Wyoming, law firm. The lawsuit was filed under the qui tam, or whistleblower provisions of the False Claims Act, which provides an opportunity for private parties to bring a lawsuit on behalf of the United States if they have some knowledge of fraud committed against the government. The private parties are entitled to receive a share of any funds recovered through the lawsuit. The False Claims Act authorizes the United States to intervene in such a lawsuit and take over primary responsibility for litigating it. According to the whistleblower's complaint, Pinnacle violated the False Claims Act by withholding material information from and making materially false statements to the Small Business Administration with regard to the funding of an SBA "504" loan. The SBA's 504 Loan Program offers small-businesses long-term, fixed-rate financing to acquire major fixed assets for expansion or modernization.

Pinnacle Financial Partners Inc. and Pinnacle Bank Announce the Resignation of Wayne J. Riley as Director

On August 6, 2013, Pinnacle Financial Partners Inc. announced that it received a letter from Wayne J. Riley, M.D. notifying the company that Dr. Riley was resigning as a director of the company and its bank subsidiary, Pinnacle Bank, effective that date.

 

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