Notizie e Video - PRIVATE BANCORP OF AMERICA PBAM

First Quarter 2024 Highlights Net income for the first quarter of 2024 of $7.9 million, compared to $7.9 million in the prior quarter and $9.0 million in the first quarter of 2023. Net income for the first quarter of 2024 represents a return on average assets of 1.48% and a return on average tangible common equity of 16.86% Diluted earnings per share for the first quarter of 2024 of $1.36, compared to $1.36 in the prior quarter and $1.57 in the first quarter of 2023 Loans held-for-investment...

Fourth Quarter 2023 Highlights Net income for the fourth quarter of 2023 of $7.9 million, compared to $8.5 million in the prior quarter and up from $7.4 million in the fourth quarter of 2022. Net income for the fourth quarter of 2023 represents a return on average assets of 1.51% and a return on average tangible common equity of 17.53% Diluted earnings per share for the fourth quarter of 2023 of $1.36, compared to $1.47 in the prior quarter and $1.31 in the fourth quarter of 2022 Loans...

Third Quarter 2023 Highlights Net income for the third quarter of 2023 of $8.5 million, up from $8.3 million (1) (as adjusted) in the prior quarter and up from $6.4 million in the third quarter of 2022. Net income for the third quarter of 2023 represents a return on average assets of 1.68% and a return on average tangible common equity of 19.74% Diluted earnings per share for the third quarter of 2023 of $1.47, up from $1.43 (1) (as adjusted) in the prior quarter and up from $1.12 in the third...

Second Quarter 2023 Highlights Net income for the second quarter of 2023 of $15.5 million, up 73% from the prior quarter and 253% from the second quarter of 2022 Net diluted earnings per share for the second quarter of 2023 of $2.69, up 71% from the prior quarter and 249% from the second quarter of 2022 Excluding the impact of the two loan recoveries and settlement of related legal fees described below, net income for the second quarter of 2023 was $8.3 million or $1.43 per diluted share (see...

LA JOLLA, Calif., May 02, 2023 (GLOBE NEWSWIRE) -- Private Bancorp of America, Inc. (OTCQX:PBAM) (“Company”) and its wholly-owned subsidiary, CalPrivate Bank (“Bank”), announced that it had reached a settlement with the Receiver for ANI Investments and Gina Champion-Cain in which the Company will recover $7.6 million (or approximately $0.94 per diluted share after tax) plus certain rights to future recoveries from a guarantor of the charged off loan. This recovery amount represents 80%...

First Quarter 2023 Highlights Record net income for the first quarter of 2023 of $9.0 million, up 20.6% from the prior quarter and 38.0% from the first quarter of 2022 Record diluted earnings per share for the first quarter of 2023 of $1.57, up 20.1% from the prior quarter and 38.7% from the first quarter of 2022 Loans held-for-investment (“HFI”) totaled $1.6 billion as of March 31, 2023, an increase of $35 million or 2.2% from December 31, 2022 The Company adopted CECL effective as of...

Fourth Quarter Highlights Net income for the fourth quarter of 2022 was $7.4 million, up 17.0% from the prior quarter and 5.0% from the same period in the prior year Diluted earnings per share for the fourth quarter of 2022 was $1.31, up 17.0% from the prior quarter and 5.6% from the same period in the prior year Total loans held-for-investment (“HFI”) reached $1.6 billion at December 31, 2022, an increase of $100.9 million or 6.8% from the prior quarter The allowance for loan losses was...

LA JOLLA, Calif., Jan. 05, 2023 (GLOBE NEWSWIRE) -- Private Bancorp of America, Inc. (OTCQX: PBAM) (“Company”) and CalPrivate Bank (“Bank”) President & CEO Rick Sowers announced today that a new finance and accounting leadership team has joined the Company and the Bank. The team will be led by Cory D. Stewart, who was appointed Executive Vice President and Chief Financial Officer of both the Company and Bank effective January 4, 2023. Joining Cory will be Tony Dal Maso, SVP Accounting &...

Third Quarter Highlights Net income for the third quarter of 2022 was $6.4 million, up 44.4% from the prior quarter and 25.7% from the same period in the prior year Diluted earnings per share for the third quarter of 2022 was $1.12, up 45.5% from the prior quarter and 25.8% from the same period in the prior year Total loans held-for-investment (“HFI”), excluding Paycheck Protection Program (“PPP”) loans, reached $1.5 billion at September 30, 2022, an increase of $108.9 million or 7.9%...

Second Quarter Highlights Net income for the quarter was $4.4 million, up 2.4% from the same period in the prior year Diluted earnings per share of $0.77, up 2.7% from the same period in the prior year Total loans held-for-investment (“HFI”), excluding Paycheck Protection Program (“PPP”) loans, reached $1.4 billion, an increase of $322.9 million or 30.6% year-over-year and $100.8 million or 7.9% over Q1’22 Non-interest-bearing demand deposits grew $143.0 million or 23.7% year over year...

LA JOLLA, Calif., June 01, 2022 (GLOBE NEWSWIRE) -- Private Bancorp of America, Inc. (OTCQX: PBAM) today announced that it had completed its Second Stock Repurchase Program previously announced on April 28, 2022 through the repurchase of 60,000 shares. There was no minimum time limit for the program, although the Board authorized the Company to repurchase shares through December 31, 2022. The timing of the purchases was based on the stock price, market and other conditions existing at the time...

LA JOLLA, Calif., April 28, 2022 (GLOBE NEWSWIRE) -- Private Bancorp of America, Inc. (OTCQX:PBAM) today announced that the Board of Directors has adopted a second stock repurchase program, and authorized entering into a written stock repurchase agreement with a broker-dealer. That agreement is expected to include a trading plan in accordance with Rules 10b5-1 and 10b-18 of the Securities Exchange Act of 1934. The Board authorized the Company to purchase up to 60,000 shares of the Company’s...

First Quarter Highlights Net income for the quarter was $6.5 million, up 41.1% from Q1’21 Diluted earnings per share of $1.13, up 40.0% from Q1’21 Total loans held-for-investment (“HFI”), excluding PPP loans, increased $87.4 million, up 7.4% over Q4’21 to $1.3 billion Non-interest-bearing demand deposits grew $41.9 million from the prior quarter to $724.5 million, representing 52.8% of total deposits Net interest margin of 4.65% compared to 4.44% for Q4’21 Cost of funding sources...

Fourth Quarter Highlights Net income for the quarter was $7.3 million, compared to $5.1 million for Q3’21 and $4.4 million in Q4’20 Diluted earnings per share of $1.28, compared to $0.89 for Q3’21 and $0.78 per share in Q4’20. Net interest margin of 4.44%, compared to 4.39% for Q3’21 Cost of funding sources was 0.19%, compared to 0.22% for Q3’21 Total loans held-for-investment (“HFI”), excluding PPP loans, increased $70.7 million, up 6.3% to $1.2 billion Non-interest-bearing...

Third Quarter Highlights Net income for the quarter was $5.1 million, compared to $4.3 million for Q2’21 Diluted earnings per share of $0.89, compared to $0.75 for Q2’21 Net interest margin of 4.39%, compared to 4.03% for Q2’21 Cost of funding sources was 0.22%, compared to 0.46% for Q2’21 Gross loans increased $43.3 million during the quarter, up 3.7%; excluding PPP loans, gross loans increased $79.8 million, up 7.4% Non-interest bearing demand deposits grew $42.3 million to $646.2...

LA JOLLA, Calif., Aug. 25, 2021 (GLOBE NEWSWIRE) -- Private Bancorp of America, Inc. (OTCQX: PBAM) (“Company”) and CalPrivate Bank (“Bank”) President & CEO Rick Sowers announced today that Mag Wangsuwana was appointed Executive Vice President and Chief Financial Officer of both the Company and Bank effective August 23, 2021. “Mag is a proven finance and accounting professional with strong strategic acumen. He is a proven leader who possesses the skills to help us get to the next level...

LA JOLLA, Calif., July 22, 2021 (GLOBE NEWSWIRE) -- Private Bancorp of America, Inc. (OTCQX:PBAM) today announced that the Board of Directors has adopted a stock repurchase program, and authorized entering into a written stock repurchase agreement with a broker-dealer. That agreement is expected to include a trading plan in accordance with Rules 10b5-1 and 10b-18 of the Securities and Exchange Act of 1934. The Board authorized the Company to purchase up to 75,000 shares of the Company’s stock...

Net income for the quarter was $4.3 million, or $0.75 per diluted share Net interest margin for the quarter was 4.03% compared with 3.89% in the prior quarter. The net interest margin excluding SBA PPP loans was 4.14% and 3.75% in the prior quarter Net interest income up 6.4% for the quarter and 17% year-over-year Non-interest income up 50% for the quarter and 104% year-over-year Total loans were $1.2 billion, up 7.6% for the quarter and 14.3% year-over-year Allowance for Loan Losses to total...

First Quarter Highlights First quarter net income was $4.6 million, or $0.81 per diluted share, up from $4.4 million or $0.78 per diluted share in the prior quarter, and up 141.6% from $1.9 million or $0.34 per diluted share from the same period in 2020 Net interest margin for the quarter was 3.89% compared with 4.74% in the prior quarter. The net interest margin excluding SBA PPP loans was 3.75% and 4.18% in the prior quarter Total loans were $1.1 billion, up 8.3% for the quarter and 22% year...

2020 Highlights Record net income of $10.9 million, or $1.94 per diluted share Net interest margin for the year was 4.15% compared with 4.51% in the prior year Total loans were $1.0 billion, up 13.9% for the year-over-year Allowance for Loan Losses to total loans increased to 1.41% and 1.51% excluding PPP loans No doubtful credits and no delinquent loans at end of year Non-performing assets represent 0.12% of total assets COVID-19 loan deferrals are $34.0 million, or 3.4% of total loans Total...