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 (PBAM) maintains this dedicated news hub for investors and financial professionals tracking its corporate developments. Our curated collection features official press releases, SEC filings, and earnings materials directly from this specialized financial institution.
Key resources include: Quarterly earnings call transcripts, merger/acquisition announcements, leadership updates, and regulatory disclosures. All content is sourced from verified corporate communications to ensure accuracy and timeliness.
Bookmark this page for streamlined access to PBAM's financial reporting calendar, dividend declarations, and strategic initiative updates. The archive provides historical context for analyzing the company's performance in commercial banking and credit management sectors.
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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%.
Private Bancorp of America (PBAM) reported a record net income of $9.0 million for Q1 2023, representing a 20.6% increase from Q4 2022 and a 38.0% year-over-year rise. The diluted earnings per share reached $1.57, up 20.1% quarter-over-quarter and 38.7% year-over-year. Total loans held-for-investment (HFI) increased to $1.6 billion, up 2.2% from the previous quarter. However, total deposits decreased to $1.6 billion, a decline of $91 million, mainly due to shifting brokered deposits. The company adopted CECL, which impacted retained earnings negatively. The net interest margin dropped to 4.90% from 5.17%, driven by increased funding costs. Despite challenges, return on equity hit a record 24.8%.
Private Bancorp of America, Inc. (PBAM) reported strong financial results for the fourth quarter and full year ended December 31, 2022. Net income for Q4 reached $7.4 million, a 17% increase from the previous quarter; diluted earnings per share were $1.31. Total loans held-for-investment rose to $1.6 billion, up 6.8% from Q3 2022.
For the full year, net income was $24.7 million, up 17.4% year-over-year, with a diluted EPS of $4.33. The net interest margin improved to 5.17% in Q4. Despite rising funding costs and a slight decline in noninterest income, the company remained optimistic about future growth and performance.
Private Bancorp of America (OTCQX: PBAM) announced the appointment of a new finance and accounting leadership team, led by Cory D. Stewart as Executive VP and CFO. The transition, effective January 4, 2023, includes other senior appointments, signaling a strategic investment in the company's future. This team aims to facilitate an up listing to a national stock exchange, capitalizing on Stewart's extensive banking experience. The company emphasizes its commitment to high integrity and growth while continuing to provide distinct banking experiences through CalPrivate Bank.
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