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, 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.
Private Bancorp of America (OTCQX:PBAM) reported a net income of $4.6 million, or $0.81 per diluted share, for Q1 2021, showing a 4.5% increase from the previous quarter and a 141.6% rise year-over-year. Total loans rose to $1.1 billion, an 8.3% quarter-on-quarter and 22% year-on-year growth, while total deposits grew to $1.2 billion, up 4.6% for the quarter. However, the net interest margin decreased to 3.89% from 4.74% in Q4 2020, primarily due to lower SBA PPP loan income and increased borrowing costs. Non-interest income increased by 63.3% year-over-year, reflecting strong SBA loan sales.