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. reports banking-company developments through its subsidiary, CalPrivate Bank. Recurring updates focus on quarterly earnings, core deposit growth, loan production, net interest margin, funding costs, credit portfolio quality, and noninterest income tied in part to SBA loan sales.
Company news also covers CalPrivate Bank’s relationship-focused banking model, Southern California market activity, office expansion in Montecito, technology and operating infrastructure investments, leadership appointments, bank board additions, and capital actions such as share repurchase authorization.
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.