Comparing the current results to its competitors, Prime Meridian Holding Co reported Revenue increase in the 3 quarter 2024 by 11.46 % year on year. The sales growth was above Prime Meridian Holding Co's competitors' average revenue growth of 0.28 %, achieved in the same quarter.
Prime Meridian Holding Co Net Income in the 3 quarter 2024 grew year on year by 22.78%, while most of its competitors have experienced a contraction in net income by -7.59 %.
Prime Meridian Holding Co's Comment on Competition and Industry Peers
The banking market includes various financial institutions such as credit unions, local, regional, and national commercial banks, mortgage companies, insurance companies, and other non-traditional financial service providers. As of June 30, 2023, eighteen FDIC-insured financial institutions served Leon County, Florida, with only two, including PMHG, headquartered there. PMHG held the third-largest share of FDIC-insured deposits in Wakulla County at 15.07%. Competitors vary in size and regulatory status, with some possessing greater financial resources and others operating under less regulation, resulting in lower cost structures. PMHG emphasizes client service, local knowledge, local decision-making, and core values rather than competing across all products and services. Key competitive factors include convenient office hours, electronic banking, community reputation, quality staff, credit capacity, and commercial banking services. PMHG's primary competitive advantages are its experienced management team, client relationship culture, and personal service.
Company's competitiveness improved within Overall company, with revenue growth of 11.46 % and its market share increased to approx. 0.01 %. << More on PMHG Market Share.
*Market share is calculated based on total revenue.
Publicly Traded Peers of Prime Meridian Holding Co
Isabella Bank Corp Share Performance
-5.56%
30 Days
Isabella Bank Corp
Profile
Isabella Bank Corp operates as a financial holding company that provides various banking products and services. It primarily serves small businesses, individuals, and other customers through its subsidiary Isabella Bank, which offers retail and commercial banking services.
Ofg Bancorp operates as a financial holding company focused on providing banking and financial services primarily in Puerto Rico. It serves individuals, businesses, and government institutions through its various subsidiaries, offering a range of products such as commercial and consumer loans, mortgages, and investment services.
Prosperity Bancshares Inc operates under a traditional banking business model, primarily providing commercial and consumer banking services. The company generates revenue through interest income from loans and investments, as well as non-interest income from various banking fees and services. It aims to grow and expand its customer base while maintaining a strong focus on profitability and risk management.
Pnc Financial Services Group Inc Share Performance
-6.95%
30 Days
Pnc Financial Services Group Inc
Profile
PNC Financial Services Group Inc operates as a diversified financial services company, offering an array of banking, investment, and asset management services to both individuals and businesses. The companys business model emphasizes a combination of physical branch locations and advanced digital banking platforms to provide tailored financial solutions that address the specific needs of their customers. By integrating technology with traditional banking services, PNC seeks to enhance customer experience and drive growth across its various financial service offerings.
Park National Corporation's business model is centered around providing financial services and solutions to individuals, businesses, and communities. They offer a range of banking products, including loans, deposits, and investment services, with a focus on building strong relationships with customers and supporting local communities.
Sources:
Prime Meridian Holding Co’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: publicly traded companies.
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