Pinnacle Bancshares Announces Results for Second Quarter Ended June 30, 2018

Robert B. Nolen, Jr., President and Chief Executive Officer of Pinnacle
Bancshares, Inc. (OTC Pink: PCLB), today announced Pinnacle’s second
quarter results of operations.

Pinnacle’s net interest margin was 3.74% and 3.67% for the three and six
months ended June 30, 2018, respectively, compared to 3.45% and 3.46%
for the three and six months ended June 30, 2017, respectively.

At June 30, 2018, Pinnacle’s allowance for loan losses as a percent of
total loans was 1.55%, compared to 1.68% at December 31, 2017. At June
30, 2018, the allowance for loan losses as a percent of nonperforming
loans was 406.30%, compared to 670.42% at December 31, 2017.
Nonperforming assets were $397,000 at June 30, 2018, compared to
$281,000 at December 31, 2017. The ratio of nonperforming assets to
total loans was .38% at June 30, 2018, compared to .29% at December 31,
2017. In addition, all capital ratios are significantly higher than the
requirements for a well-capitalized institution.

Dividends of $.11 and $.22 per share were paid to shareholders during
the three and six months ended for both June 30, 2018, and 2017.

Forward-Looking Statements

Information contained in this press release, other than historical
information, may be considered forward-looking in nature and is subject
to various risks, uncertainties and assumptions. Should one or more of
these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from
those anticipated, estimated or expected. Pinnacle undertakes no duty to
update any forward-looking statement to conform the statement to actual
results or changes in Pinnacle’s expectations. Certain tabular
presentations may not reconcile because of rounding.

Pinnacle Bancshares, Inc.’s wholly owned subsidiary Pinnacle Bank has
seven offices located in central and northwest Alabama.

(In Thousands, except share and per share data)

Assets

Liabilities and Stockholders’ Equity

Accumulated other comprehensive income (loss), net of tax

Net interest income after provision for loan losses

Weighted –average basic and diluted shares outstanding

Cash dividends declared ($.22 per share)

Cash dividends declared ($.22 per share)

PINNACLE BANCSHARES, INC.

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