PNBK returns to profit with $143K net income in Q2 2026 as OCC lifts Formal Agreement

Filed August 14, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 14, 2025 · ~1 min read

Key Changes

• high

  Material weakness in internal control over financial reporting persists as of June 30, 2026, related to deficiencies in documentation, evidential support, and consistent execution of controls including IT general controls, financial close and reconciliation controls, and controls over third party and digital payments activities; remediation ongoing but not yet complete.

  MD&A: Internal Controls verify on EDGAR →
• high

  Recorded a $5.5 million valuation allowance in Q2 2026 on credit card receivables that remained on the balance sheet after an anticipated sale was not completed, partially offset by $5.3 million of other income from contractual indemnification rights associated with the same program manager relationship.

  MD&A: Credit Card Receivables verify on EDGAR →