Pinnacle Bankshares Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. Net income after taxes of $237,000 or $0.16 per basic and diluted share for the quarter ended September 30, 2009 compared to net income after taxes of $462,000 or $0.31 per basic and diluted share a year ago period. Net interest income was $2,539,000 for the three months ended September 30, 2009 compared to $2,645,000 for the three months ended September 30, 2008. Net income after taxes of $273,000 or $0.18 per basic and diluted share for the nine months ended September 30, 2009 compared to net income after taxes of $1,507,000 or $1.01 per basic and diluted share for the same period of 2008. Net interest income was $7,356,000 for the nine months ended September 30, 2009 compared to $7,709,000 for the nine months ended September 30, 2008.

Pinnacle Bankshares Corp. reported consolidated earnings results for the second quarter and six months ended June 30, 2009. The company reported net income after taxes of $255,000 or $0.17 per basic and diluted share for the quarter ended June 30, 2009, compared to net income after taxes of $552,000 or $0.37 per basic and diluted share for the same period of 2008. Second quarter 2009 net income was an improvement on the first quarter 2009 loss of $219,000 as the Company experienced improved asset quality and thus lower provision expense for loan losses. Net interest income was $2,449,000 for the three months ended June 30, 2009 compared to $2,594,000 for the three months ended June 30, 2008. Interest income was $4.3 millon compared to $4.6 million for the same quarter last year. For the six months, the company reported net income after taxes of $36,000 or $0.02 per basic and diluted share for the six months ended June 30, 2009 compared to net income after taxes of $1,045,000 or $0.70 per basic and diluted share. Net interest income was $4,817,000 for the six months ended June 30, 2009 compared to $5,064,000 for the six months ended June 30, 2008. The net interest margin decreased to 3.18% for the six months ended June 30, 2009, from 3.75% for the six months ended June 30, 2008. Interest income decreased 5.67% and 6.37% for the six and three months ended June 30, 2009, respectively, compared to the same periods of 2008, as net loan volume increased by $7,454,000 since June 30, 2008 while the yield on loans and securities decreased by 107 basis points in the same time period. Interest income was $8.6 million compared to $9.1 million reported for the same period last year.

Pinnacle Bankshares Corp. announced unaudited consolidated earnings results for the first quarter ended March 31, 2009. For the quarter, the company reported $0.15 basic and diluted loss per share compared to $0.33 basic and diluted income per share for the same quarter last year.