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 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.
Private Bancorp of America (OTCQX:PBAM) reported a net income of $6.4 million for Q3 2022, marking a 44.4% increase from Q2 and 25.7% year-over-year. Diluted earnings per share rose to $1.12, up 45.5%. Total loans held-for-investment reached $1.5 billion, a 7.9% increase from the previous quarter. Net interest margin improved to 4.97%, compared to 4.57% last quarter. Despite rising funding costs, the company remains well-capitalized, with a Tier 1 risk-based capital ratio of 9.35%.
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%.