How can you go through the trouble of calulating all those numbers and miss the fact that their quarterly dividend is 15.5 Cents. Annually this is 62 Cents.
AGAIN: Replace *quarterly* with *annually* in your original post. And, I agree: if we have essentially zero interest rates for the next 10 years, PBCT is a bad investment... but that's much harder to believe than having zero interest rates for the next 10 quarters.
If you still cannot understand this, I frankly don't care. I post this for the benefit of other readers... who can go to any number of sources to corroborate what I've written.