Welcome to our dedicated page for Private Bancorp news (Ticker: PBAM), a resource for investors and traders seeking the latest updates and insights on Private Bancorp stock.
Private Bancorp of America, Inc. (OTCQX: PBAM) is the holding company for CalPrivate Bank, a commercial bank that reports detailed quarterly and annual financial results and strategic updates. News about PBAM frequently covers net income, earnings per share, net interest margin, core deposit growth, loan portfolio trends, and asset quality metrics such as criticized and classified loans and the allowance for loan losses.
Investors following PBAM news can review management commentary on topics such as core deposit franchise strength, funding costs, liquidity levels, and capital ratios relative to "well capitalized" standards. Regular releases describe movements in loans held‑for‑investment, investment securities available‑for‑sale, nonperforming assets, and reserves for unfunded commitments, providing insight into the bank’s balance sheet and credit risk profile.
Company news also highlights strategic and corporate developments, including expansion of CalPrivate Bank’s footprint into markets such as Montecito in Santa Barbara County, leadership transitions in roles like Chief Credit Officer, and appointments of new directors with backgrounds in financial regulation, risk management, and brand building. These updates offer context on governance, risk oversight, and market focus in coastal Southern California.
In addition, PBAM announcements feature information on client service and recognitions, such as rankings by Bank Director’s RankingBanking, American Banker, and Bauer Financial, as well as SBA lending distinctions. The company has also reported a board‑authorized stock repurchase program. For users tracking PBAM, this news feed aggregates earnings releases, capital actions, leadership changes, branch expansion announcements, and other disclosures that shape the bank’s operating and financial narrative over time.
Private Bancorp of America (PBAM) reported record Q4 2024 net income of $10.7 million ($1.82 per diluted share), up from $9.5 million in Q3 2024 and $7.9 million in Q4 2023. The company achieved a return on average assets of 1.80% and return on average tangible common equity of 19.46%.
Key financial metrics include: loans held-for-investment increased 12.9% YoY to $2.09 billion; total deposits grew 13.8% YoY to $2.13 billion; net interest margin improved to 4.67% in Q4 2024 from 4.44% in Q3. The total cost of deposits decreased to 2.36% from 2.62% in the previous quarter.
For full-year 2024, PBAM reported net income of $35.8 million ($6.15 per diluted share). Credit quality remained strong with total criticized and classified loans at 1.18% of total loans. Tangible book value per share increased 19.7% YoY to $38.40.
Private Bancorp of America (OTCQX: PBAM) announced the retirement of Chief Credit Officer Robert Llorens after six years with the company. During his tenure, Llorens played a important role in the company's growth and developed a strong credit management team.
Thomas V. Wornham, Bank Director and Directors' Loan Committee member, will provide interim support to Deputy Chief Credit Officer Mickey Barda and the credit management team while the company searches for a new CCO. Wornham, who previously served as CEO of CalPrivate Bank before current President & CEO Rick Sowers, brings significant experience to the interim role.
Private Bancorp of America (OTCQX: PBAM) reported record net income of $9.5 million for Q3 2024, up from $7.8 million in Q2 and $8.5 million in Q3 2023. Diluted EPS reached $1.63, compared to $1.35 in Q2 and $1.47 in Q3 2023. The company achieved a return on average assets of 1.62% and a return on average tangible common equity of 18.18%.
Key highlights include:
- Loans held-for-investment increased 1.7% to $2.01 billion
- Total deposits grew 5.3% to $2.11 billion
- Net interest margin was 4.44%
- Tangible book value per share rose to $36.87, up 6.4% quarter-over-quarter and 22.1% year-over-year
The bank maintained strong credit metrics with total criticized and classified loans at 1.23% of total loans. PBAM was recognized as the #1 bank for both ROA and ROE among banks with less than $5 billion in assets on The Best U.S. Banks 2024 list.
CalPrivate Bank, a subsidiary of Private Bancorp of America, Inc. (OTCQX: PBAM), has been ranked as the 10th best bank in the U.S. by Bank Director's RankingBanking® 'The Best U.S. Banks 2024' list. The bank also secured the #1 position for both Return on Assets (ROA) and Return on Equity (ROE) among banks with less than $5 billion in assets. This recognition highlights CalPrivate Bank's commitment to excellence, innovation, and client-focused banking solutions.
The RankingBanking® list evaluates banks based on profitability, capital adequacy, and asset quality using four key metrics: core return on average equity, core return on average assets, tangible common equity ratio, and nonperforming assets to loans and other real estate owned. CEO Rick Sowers attributes this success to the team's dedication in delivering outstanding service and innovative solutions to clients.
Private Bancorp of America (OTCQX: PBAM) reported strong financial results for Q2 2024. The company achieved net income of $7.8 million, or $1.35 per diluted share, representing a return on average assets of 1.40% and a return on average tangible common equity of 15.99%. Key highlights include:
- Loans held-for-investment grew 3.8% to $1.98 billion
- Total deposits increased 5.1% to $2.00 billion
- Net interest margin expanded to 4.48%
- Tangible book value per share rose 3.3% to $34.65
The bank maintained strong asset quality with total criticized and classified loans at 0.85% of total loans. PBAM's capital ratios remain well above 'well capitalized' levels, with a Tier 1 leverage ratio of 10.00%.
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