Private Bancorp Stock Price, News & Analysis

Private Bancorp of America (PBAM) reported second-quarter net income of $4.4 million, a 2.4% increase year-over-year, with diluted EPS of $0.77, up 2.7%. Total loans reached $1.4 billion, marking a year-over-year growth of 30.6%. Non-interest demand deposits rose 23.7% to $747 million. The net interest margin improved to 4.57%. However, non-interest income decreased significantly by $1.7 million, largely due to lower SBA loan sales. Total non-interest expense increased 16% to $12.6 million, driven by higher professional services and inflationary pressures.

Private Bancorp of America (OTCQX: PBAM) has completed its Second Stock Repurchase Program, buying back 60,000 shares without a minimum time limit. Authorized until December 31, 2022, the timing of purchases was based on stock price and market conditions. The repurchased shares have been retired, further enhancing shareholder value.

Private Bancorp of America (OTCQX: PBAM) announced a new stock repurchase program, allowing the purchase of up to 60,000 shares for a total of $2.2 million. This program is set to run until December 31, 2022, following the termination of the previous repurchase initiative that saw no shares bought back. The new buyback, structured under SEC rules 10b5-1 and 10b-18, aims to enhance shareholder value. The company emphasizes its commitment to delivering creative banking solutions for high net worth individuals and businesses across California.

Private Bancorp of America (OTCQX:PBAM) reported first-quarter net income of $6.5 million, a 41.1% increase year-over-year, translating to $1.13 per diluted share (up 40.0% from Q1’21). Total loans held-for-investment reached $1.3 billion, growing 7.4% from Q4’21. Non-interest-bearing demand deposits hit $724.5 million, accounting for 52.8% of total deposits. The net interest margin stood at 4.65%, up from 4.44% in Q4’21. Although non-interest income fell to $3.1 million, expenses rose by 10.4% due to wage pressures and legal costs.

Private Bancorp of America (PBAM) reported strong financial results for Q4 2021, with net income rising to $7.3 million ($1.28 per diluted share), up from $5.1 million in Q3 2021. For FY 2021, net income doubled to $21.0 million compared to $10.9 million in FY 2020. Total loans increased by 26.9% to $1.2 billion, while non-interest-bearing demand deposits grew by 28.4%. The net interest margin reached 4.44% and tangible book value per share rose to $22.26, a 4.7% increase. The company remains well-capitalized with a Tier 1 risk-based capital ratio of 10.63%.

Private Bancorp of America (PBAM) announced its third-quarter results, reporting a net income of $5.1 million or $0.89 per diluted share, up from $4.3 million or $0.75 in Q2’21. The company also achieved a net interest margin of 4.39%, a 4.6% increase in tangible book value per share, and a notable growth in gross loans by 3.7%. Non-interest income decreased by 14.8% to $2.4 million. The company remains well capitalized, with a Tier 1 risk-based capital ratio of 10.64%.

Private Bancorp of America, Inc. (OTCQX: PBAM) has appointed Mag Wangsuwana as Executive Vice President and Chief Financial Officer effective August 23, 2021. Wangsuwana, who has over 25 years of financial services experience, was formerly CFO at First Choice Bank. Rick Sowers, CEO, expressed confidence in Wangsuwana's ability to enhance the company's growth trajectory. The press release also thanked former CFO Richard Pimentel for his contributions. The company, which operates CalPrivate Bank, provides tailored banking solutions for high-net-worth individuals and businesses across several locations in California.

Private Bancorp of America (OTCQX: PBAM) announced a stock repurchase program, allowing the purchase of up to 75,000 shares for a total of $1,500,000. This program, authorized by the Board of Directors, will be executed through privately-negotiated transactions and market purchases under a trading plan compliant with Rules 10b5-1 and 10b-18. The buybacks are set to continue until July 31, 2022, reflecting the company’s commitment to enhancing shareholder value.

Private Bancorp of America, Inc. (OTCQX:PBAM) reported its Q2 2021 financial results, highlighting a net income of $4.3 million, or $0.75 per diluted share, down from $4.6 million in Q1 2021. Year-to-date net income rose to $8.9 million compared to $4.0 million in 2020. Key metrics include a net interest margin of 4.03% and a 50% increase in non-interest income, driven by robust SBA loan sales. Total loans grew by 7.6%, and total deposits increased by 3.6% sequentially. Despite rising expenses, the company remains optimistic about future growth and profitability.