Private Bancorp of America, Inc. Announces Continued Strong Net Income and Core Deposit Growth for Third Quarter 2025
Private Bancorp of America (OTCQX: PBAM) reported Q3 2025 net income of $9.7M ($1.65 diluted EPS), up 2.6% year-over-year and down versus prior quarter. Key balance sheet moves: core deposits $2.19B (+17.0% YoY, +5.8% QoQ), total deposits $2.27B, and loans HFI $2.08B. Net interest margin was 4.65%; provision for credit losses rose to $1.8M. Investment securities AFS were $199.9M (+41.6% YoY). Tangible book value per share was $44.11 (+19.6% YoY). Nonperforming assets increased to 1.79% of assets.
The company highlighted branch expansion in Montecito and continued focus on relationship banking and disciplined lending.
Private Bancorp of America (OTCQX: PBAM) ha riportato l’utile netto del 3° trimestre 2025 di 9,7 milioni di dollari (EPS diluito di 1,65 USD), in aumento del 2,6% su base annua e in calo rispetto al trimestre precedente. Movimenti chiave del bilancio: depositi principali 2,19 miliardi di USD (+17,0% YoY, +5,8% QoQ), depositi totali 2,27 miliardi di USD, e prestiti HFI 2,08 miliardi di USD. Il margine di interesse netto è stato 4,65%; la prudenza per perdite su crediti è aumentata a 1,8 milioni di USD. I titoli di investimento AFS ammontavano a 199,9 milioni di USD (+41,6% YoY). Il valore contabile tangibile per azione era 44,11 USD (+19,6% YoY). Le attività non productive sono aumentate a 1,79% delle attività.
L’azienda ha evidenziato l’espansione della rete di filiali a Montecito e il continuo focus sul relationship banking e su una concessione di credito disciplinata.
Private Bancorp of America (OTCQX: PBAM) reportó ingresos netos del tercer trimestre de 2025 de 9.7 millones de dólares (EPS diluido de 1,65 USD), un incremento del 2,6% interanual y a la vez con descenso respecto al trimestre anterior. Movimientos clave del balance: depósitos principales 2,19 mil millones de USD (+17,0% interanual, +5,8% QoQ), depósitos totales 2,27 mil millones, y préstamos HFI 2,08 mil millones. El margen de interés neto fue 4,65%; la provisión para pérdidas crediticias aumentó a 1,8 millones. Valores de inversión AFS fueron de 199,9 millones (+41,6% interanual). El valor contable tangible por acción fue 44,11 USD (+19,6% interanual). Activos no productivos aumentaron a 1,79% de activos. La empresa destacó la expansión de sucursales en Montecito y el enfoque continuo en la banca de relaciones y en préstamos disciplinados.
Private Bancorp of America (OTCQX: PBAM)가 2025년 3분기 순이익 970만 달러를 보고했습니다 (희석 주당순이익 1.65달러), 전년 동기 대비 2.6% 증가했고 전분기 대비로는 하락했습니다. 주요 대차대조표 움직임: 핵심 예치금 21.9억 달러 (+전년대비 17.0%, QoQ +5.8%), 총 예치금 22.7억 달러, 그리고 가용금융 대출(Loans HFI) 20.8억 달러. 순이자마진은 4.65%였고, 대손충당금은 180만 달러로 증가했습니다. 매도가능증권 AFS은 199.9백만 달러 (+전년대비 41.6%). 주당 실질순자산가치는 44.11달러 (+19.6% YoY). 부실자산은 자산의 1.79%로 증가했습니다. 회사는 몬테시토에서의 지점 확장과 관계 은행업 및 신중한 대출에 지속적으로 초점을 맞추고 있음을 강조했습니다.
Private Bancorp of America (OTCQX: PBAM) a annoncé un résultat net du troisième trimestre 2025 de 9,7 M$ (EPS dilué de 1,65 $), en hausse de 2,6% en glissement annuel et en baisse par rapport au trimestre précédent. Mouvements clés du bilan : dépôts principaux 2,19 Md$ (+17,0 % YoY, +5,8 % QoQ), dépôts totaux 2,27 Md$, et prêts HFI 2,08 Md$. La marge nette d’exploitation a été de 4,65% ; la provision pour pertes sur crédits a augmenté à 1,8 M$. Les valeurs d’investissement AFS s’élevaient à 199,9 M$ (+41,6 % YoY). La valeur comptable tangible par action était de 44,11 $ (+19,6 % YoY). Les actifs improductifs ont augmenté à 1,79 % des actifs. L’entreprise a souligné l’expansion des succursales à Montecito et son focus continu sur la banque relationnelle et le prêt discipliné.
Private Bancorp of America (OTCQX: PBAM) meldete einen Nettogewinn im dritten Quartal 2025 von 9,7 Mio. USD (verwässertes EPS 1,65 USD), ein Plus von 2,6% gegenüber dem Vorjahr und rückläufig gegenüber dem vorherigen Quartal. Schlüsselentwicklungen auf der Bilanz: KernEinlagen 2,19 Mrd. USD (+17,0% YoY, +5,8% QoQ), Total-Einlagen 2,27 Mrd. USD, und loan HFI 2,08 Mrd. USD. Nettomarge nach Zinsen 4,65%; Rückstellung für Ausfallrisiken gestiegen auf 1,8 Mio. USD. Anlagewerte AFS betrugen 199,9 Mio. USD (+41,6% YoY). Reale Buchwert pro Aktie betrug 44,11 USD (+19,6% YoY). Nicht durchführungsfähige Vermögenswerte stiegen auf 1,79% der Vermögenswerte. Das Unternehmen hob die Filialerweiterung in Montecito hervor und den fortgesetzten Fokus auf Relationship Banking und disziplinierte Kreditvergabe.
Private Bancorp of America (OTCQX: PBAM) أعلنت عن صافي دخل للربع الثالث من عام 2025 مقداره 9.7 مليون دولار (EPS مخفف 1.65 دولار)، بارتفاع 2.6% على أساس سنوي وانخفاض مقارنة بالربع السابق. تحركات رئيسية في الميزانية: ودائع أساسية 2.19 مليار دولار (+17.0% على أساس سنوي، +5.8% QoQ)، إجمالي الودائع 2.27 مليار دولار، و< b>قروض HFI 2.08 مليار دولار. الهامش النقدي الصافي كان 4.65%؛ زادت المخصصات للم يشك للخسائر إلى 1.8 مليون دولار. القيم الاستثمارية AFS كانت 199.9 مليون دولار (+41.6% على أساس سنوي). قيمة الدفترية الملموسة للسهم كانت 44.11 دولار (+19.6% على أساس سنوي). ارتفعت الأصول غير المنتجة إلى 1.79% من الأصول. شددت الشركة على توسيع الفروع في مونتيسيتو والتركيز المستمر على الخدمات المصرفية القائمة على العلاقات والإقراض المتقيد.
Private Bancorp of America (OTCQX: PBAM) 报告 2025 年第三季度净利润为 970 万美元（摊薄每股收益 1.65 美元），同比增长 2.6%，但较前一季度有所下降。关键资产负债表变动：核心存款 21.9 亿美元（同比+17.0%，环比+5.8%），总存款 22.7 亿美元，合法性高层贷款 HFI 为 20.8 亿美元。净息差为 4.65%；信用损失准备金上升至 180 万美元。投资证券可供出售 AFS 为 1.999 亿美元（同比+41.6%）。每股账面价值为 44.11 美元（同比+19.6%）。不良资产占比上升至资产的 1.79%。公司强调在蒙特西托扩张分支，以及继续专注于关系型银行业务和纪律性放贷。
- Core deposits +17.0% year-over-year to $2.19B
- Investment securities AFS +41.64% year-over-year to $199.9M
- Tangible book value per share +19.6% year-over-year to $44.11
- Return on tangible common equity 15.28% for Q3 2025
- Nonperforming assets rose to 1.79% of total assets from 0.66% at June 30, 2025
- Provision for credit losses increased to $1.8M in Q3 2025 from $0.3M in Q3 2024
- $1.3M reversal of interest income related to loans placed on nonaccrual during the quarter
Third Quarter 2025 Highlights
- Net income for the third quarter of 2025 was
$9.7 million , compared to$10.4 million in the prior quarter and$9.5 million in the third quarter of 2024. Net income increased2.6% year over year. Results for the third quarter of 2025 reflect the reversal of$1.3 million of interest income and a$1.0 million increase in reserves for loans placed on nonaccrual during the quarter. - Net income for the third quarter of 2025 represents a return on average assets of
1.51% and a return on average tangible common equity of15.28% - Diluted earnings per share for the third quarter of 2025 was
$1.65 , compared to$1.77 in the prior quarter and$1.63 in the third quarter of 2024 - Core deposits were
$2.19 billion as of September 30, 2025, an increase of$121.1 million or5.8% from June 30, 2025. Year over year, core deposits increased$318.8 million or17.0% and brokered deposits decreased$153.6 million or65.7% . Total deposits were$2.27 billion as of September 30, 2025, an increase of$109.5 million or5.1% from June 30, 2025, which included a reduction in brokered deposits of$11.6 million . - Total cost of deposits was
2.02% for the third quarter of 2025, a decrease from2.08% in the prior quarter and2.62% in the third quarter of 2024, an improvement of3.0% quarter over quarter and22.9% year over year. The spot rate for total deposits was1.91% as of September 30, 2025, compared to2.04% at June 30, 2025. Total cost of funding sources was2.08% for the third quarter of 2025, a decrease from2.14% in the prior quarter and2.71% in the third quarter of 2024 - Loans held-for-investment (“HFI”) totaled
$2.08 billion as of September 30, 2025, an increase of$0.5 million or0.0% from June 30, 2025. Loans HFI increased3.4% year over year - Investment securities available-for-sale (“AFS”) were
$199.9 million as of September 30, 2025, an increase of$11.0 million or5.84% since June 30, 2025, and an increase of$58.8 million or41.64% year over year, primarily as a result of new securities purchased. - Net interest margin was
4.65% for the third quarter of 2025, compared to4.94% in the prior quarter and4.44% in the third quarter of 2024 - Provision for credit losses for the third quarter of 2025 was
$1.8 million , compared to$1.3 million for the prior quarter and$0.3 million for the third quarter of 2024. The allowance for loan losses was1.38% of loans HFI as of September 30, 2025 compared to1.35% at June 30, 2025 - As of September 30, 2025, criticized loans totaled
$70.5 million , or3.39% of total loans, up from$58.2 million , or2.79% of total loans at June 30, 2025 - Tangible book value per share was
$44.11 as of September 30, 2025, an increase of$1.91 since June 30, 2025 primarily as a result of strong earnings. Tangible book value per share increased4.5% quarter-over-quarter and19.6% year over year.
LA JOLLA, Calif., Oct. 17, 2025 (GLOBE NEWSWIRE) -- Private Bancorp of America, Inc. (OTCQX: PBAM), (“Company”) and CalPrivate Bank (“Bank”) announced unaudited financial results for the third fiscal quarter ended September 30, 2025. The Company reported net income of
Rick Sowers, President and CEO of the Company and the Bank stated, “Management and the Board continue to be focused on the basics – building and expanding quality Relationships in the communities we serve. This is demonstrated by the improvement in our core deposit franchise and our consistent, strong earnings profile. Although 2025 continues to be a slow year for loan growth due to suppressed demand, what we view as continued unreasonable market pricing, and increased non-bank competition, we are adding new Relationships across our footprint by delivering our Clients customized Solutions that meet their individual needs. Pipelines are strong going into the fourth quarter across our markets, which is encouraging. We believe that focusing on the fundamentals and having a disciplined approach to lending and balance sheet management have served us well and we are not deviating from that strategy.”
Sowers added, “We are excited to open our Montecito Branch this quarter and welcoming Clients into our office in the Upper Village. Led by longtime Santa Barbara banking executive George Leis, we are hitting the ground running and looking forward to gaining market share in this important expansion for CalPrivate Bank.”
The Bank's superior financial performance and industry leading service metrics continue to be recognized by industry publications and our Clients. This recognition reinforces our strategic thinking and our dedication to excellence, innovation, delivering Client-focused banking solutions and enhancing shareholder value:
- Top 20 Community Banks in the US for 2025 by American Banker with assets between
$2B and$10B in assets and #2 in California - #1 for both Return on Assets (ROA) and Return on Equity (ROE) among banks with less than
$5 billion in assets in 2024 - #1 SBA 504 Community Bank Lender in the United States
- #10 Best U.S. Bank by Bank Director’s RankingBanking®
- Client Net Promoter Score of 81 (World Class)
- Bauer 5 Star Rating
- 2025 Best 50 OTCQX
“CalPrivate continues to outperform peers and build tangible book value for shareholders at an attractive rate,” said Selwyn Isakow, Chairman of the Board of the Company and the Bank. “While economic and geopolitical uncertainty continue to temper business investment and industry loan demand, management’s disciplined execution of our strategy - to be the finest relationship bank in coastal Southern California - continues to deliver results. Through our Distinctly Different™ service and superior client solutions, core deposit growth from our valued clients remains exceptional, strengthening franchise value and earnings. Our client relationships are defined by the mutual trust we build, the friendships formed, and the shared success that connects us. Behind every committed client relationship is a dedicated team of professionals across operations, compliance, technology, and support, whose quiet excellence and collegial spirit make our service promise possible each day. They are the foundation of our culture and the reason CalPrivate feels so different from any other bank.”
STATEMENT OF INCOME
Net Interest Income
Net interest income for the third quarter of 2025 totaled
Net Interest Margin
Net interest margin for the third quarter of 2025 was
Provision for Credit Losses
Provision expense for credit losses for the third quarter of 2025 was
Noninterest Income
Noninterest income was
Noninterest Expense
Noninterest expense was
The Company remains committed to making investments in the business, including technology, marketing, and staffing. Inflationary pressures and low unemployment continue to have an impact on rising wages as well as increased costs related to third party service providers, which we proactively monitor and manage.
Provision for Income Tax Expense
Provision for income tax expense was
STATEMENT OF FINANCIAL CONDITION
As of September 30, 2025, total assets were
Total deposits were
As of September 30, 2025, total available liquidity was
Asset Quality and Allowance for Credit Losses ("ACL")
As of September 30, 2025, the allowance for loan losses was
At September 30, 2025 and June 30, 2025, classified loans were
Capital Ratios (2)
The Bank’s capital ratios were in excess of the levels established for “well capitalized” institutions and are as follows:
| September 30, 2025 (2) | June 30, 2025 | |
| CalPrivate Bank | ||
| Tier I leverage ratio | ||
| Tier I risk-based capital ratio | ||
| Total risk-based capital ratio |
(2) September 30, 2025 capital ratios are preliminary and subject to change.
About Private Bancorp of America, Inc. (OTCQX: PBAM)
PBAM is the holding company for CalPrivate Bank, which operates offices in Coronado, San Diego, La Jolla, Newport Beach, El Segundo, Beverly Hills, and coming soon, Montecito, as well as through efficient digital banking services. CalPrivate Bank is driven by its core values of building client Relationships based on superior funding Solutions, unparalleled Service, and mutual Trust. The Bank caters to high-net-worth individuals, professionals, closely held businesses, and real estate entrepreneurs, delivering a Distinctly Different™ personalized banking experience while leveraging cutting-edge technology to enhance our clients’ evolving needs. CalPrivate Bank is in the top tier of customer service survey ratings in the nation, scoring almost 3x higher than the median domestic bank. The Bank offers comprehensive deposit and treasury services, rapid and creative loan options including various portfolio and government-guaranteed lending programs, cross border banking, and innovative, unique technologies that drive enhanced client performance. CalPrivate Bank has been recognized by Bank Director's RankingBanking® as the 10th best bank in the country and the #1 bank in its asset class for both return on assets (ROA) and return on equity (ROE). CalPrivate Bank was also ranked in the top
CalPrivate Bank’s website is www.calprivate.bank.
Non-GAAP Financial Measures
This press release contains certain non-GAAP financial measures in addition to results presented in accordance with GAAP, including efficiency ratio, pretax pre-provision net revenue, average tangible common equity and return on average tangible common equity. The Company uses certain non-GAAP financial measures to provide meaningful supplemental information regarding the Company's results of operations and financial condition and to enhance investors’ overall understanding of such results of operations and financial condition, to permit investors to effectively analyze financial trends of our business activities, and to enhance comparability with peers across the financial services sector. These non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, financial measures prepared in accordance with GAAP and should be read in conjunction with the Company’s GAAP financial information. A reconciliation of the most comparable GAAP financial measures to non-GAAP financial measures is included in the accompanying financial tables.
Investor Relations Contacts
Rick Sowers
President and Chief Executive Officer
Private Bancorp of America, Inc., and CalPrivate Bank
(424) 303-4894
Cory Stewart
Executive Vice President and Chief Financial Officer
Private Bancorp of America, Inc., and CalPrivate Bank
(206) 293-3669
Safe Harbor Paragraph
This communication contains expressions of expectations, both implied and explicit, that are “forward-looking statements” within the meaning of such term in the Private Securities Litigation Reform Act of 1995. We caution you that a number of important factors could cause actual results to differ materially from those in the forward-looking statements, especially given the current turmoil in the banking and financial markets. These factors include the effects of depositors withdrawing funds unexpectedly, counterparties being unable to provide liquidity sources that we believe should be available, loan losses, economic conditions and competition in the geographic and business areas in which Private Bancorp of America, Inc. operates, including competition in lending and deposit acquisition, the unpredictability of fee income from participation in SBA loan programs, the effects of bank failures, liquidations and mergers in our markets and nationally, our ability to successfully integrate and develop business through the addition of new personnel, whether our efforts to expand loan, product and service offerings will prove profitable, system failures and data security, whether we can effectively secure and implement new technology solutions, inflation, fluctuations in interest rates, legislation and governmental regulation. You should not place undue reliance on forward-looking statements, and we undertake no obligation to update those statements whether as a result of changes in underlying factors, new information, future events or otherwise. These factors could cause actual results to differ materially from what we anticipate or project. You should not place undue reliance on any such forward-looking statement, which speaks only as of the date on which it was made. Although we believe in good faith the assumptions and bases supporting our forward-looking statements to be reasonable, there can be no assurance that those assumptions and bases will prove accurate.
| PRIVATE BANCORP OF AMERICA, INC. CONSOLIDATED BALANCE SHEET (Unaudited) (Dollars in thousands) | ||||||||||||
| Sep 30, 2025 | Jun 30, 2025 | Sep 30, 2024 | ||||||||||
| Assets | ||||||||||||
| Cash and due from banks | $ | 29,605 | $ | 26,215 | $ | 29,555 | ||||||
| Interest-bearing deposits in other financial institutions | 16,314 | 14,715 | 10,160 | |||||||||
| Interest-bearing deposits at Federal Reserve Bank | 215,448 | 99,689 | 167,459 | |||||||||
| Total cash and due from banks | 261,367 | 140,619 | 207,174 | |||||||||
| Interest-bearing time deposits with other institutions | 4,295 | 4,270 | 4,124 | |||||||||
| Investment debt securities available for sale | 199,852 | 188,821 | 141,100 | |||||||||
| Loans held for sale | 314 | 8,826 | 2,040 | |||||||||
| Loans, net of deferred fees and costs and unaccreted discounts | 2,081,611 | 2,081,063 | 2,012,457 | |||||||||
| Allowance for loan losses | (28,785 | ) | (28,178 | ) | (26,594 | ) | ||||||
| Loans held-for-investment, net of allowance | 2,052,826 | 2,052,885 | 1,985,863 | |||||||||
| Federal Home Loan Bank stock, at cost | 10,652 | 10,652 | 9,586 | |||||||||
| Operating lease right of use assets | 6,811 | 7,254 | 4,344 | |||||||||
| Premises and equipment, net | 2,252 | 2,213 | 2,345 | |||||||||
| Servicing assets, net | 2,004 | 1,964 | 2,006 | |||||||||
| Accrued interest receivable | 8,031 | 8,624 | 7,738 | |||||||||
| Other assets | 28,077 | 28,752 | 20,053 | |||||||||
| Total assets | $ | 2,576,481 | $ | 2,454,880 | $ | 2,386,373 | ||||||
| Liabilities and Shareholders' Equity | ||||||||||||
| Liabilities | ||||||||||||
| Noninterest bearing | $ | 654,072 | $ | 601,473 | $ | 584,292 | ||||||
| Interest bearing | 1,618,296 | 1,561,407 | 1,522,839 | |||||||||
| Total deposits | 2,272,368 | 2,162,880 | 2,107,131 | |||||||||
| FHLB borrowings | 11,000 | 11,000 | 28,000 | |||||||||
| Other borrowings | 17,974 | 17,972 | 17,967 | |||||||||
| Accrued interest payable and other liabilities | 17,185 | 16,089 | 19,062 | |||||||||
| Total liabilities | 2,318,527 | 2,207,941 | 2,172,160 | |||||||||
| Shareholders' equity | ||||||||||||
| Common stock | 76,403 | 76,398 | 74,688 | |||||||||
| Additional paid-in capital | 4,479 | 4,009 | 4,271 | |||||||||
| Retained earnings | 182,546 | 172,849 | 141,623 | |||||||||
| Accumulated other comprehensive (loss) income, net | (5,474 | ) | (6,317 | ) | (6,369 | ) | ||||||
| Total shareholders' equity | 257,954 | 246,939 | 214,213 | |||||||||
| Total liabilities and shareholders' equity | $ | 2,576,481 | $ | 2,454,880 | $ | 2,386,373 | ||||||
| PRIVATE BANCORP OF AMERICA, INC. CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (Dollars in thousands, except per share amounts) | ||||||||||||||||||||
| For the three months ended | Year to Date | |||||||||||||||||||
| Sep 30, 2025 | Jun 30, 2025 | Sep 30, 2024 | Sep 30, 2025 | Sep 30, 2024 | ||||||||||||||||
| Interest Income | ||||||||||||||||||||
| Loans | $ | 36,771 | $ | 38,004 | $ | 36,353 | $ | 111,340 | $ | 104,897 | ||||||||||
| Investment securities | 2,051 | 1,800 | 1,345 | 5,356 | 3,414 | |||||||||||||||
| Deposits in other financial institutions | 2,432 | 2,184 | 2,320 | 6,814 | 6,153 | |||||||||||||||
| Total interest income | 41,254 | 41,988 | 40,018 | 123,510 | 114,464 | |||||||||||||||
| Interest Expense | ||||||||||||||||||||
| Deposits | 11,440 | 11,376 | 13,468 | 34,715 | 38,638 | |||||||||||||||
| Borrowings | 482 | 499 | 843 | 1,618 | 2,681 | |||||||||||||||
| Total interest expense | 11,922 | 11,875 | 14,311 | 36,333 | 41,319 | |||||||||||||||
| Net interest income | 29,332 | 30,113 | 25,707 | 87,177 | 73,145 | |||||||||||||||
| Provision for credit losses | 1,792 | 1,293 | 304 | 3,384 | 2,673 | |||||||||||||||
| Net interest income after provision for credit losses | 27,540 | 28,820 | 25,403 | 83,793 | 70,472 | |||||||||||||||
| Noninterest income: | ||||||||||||||||||||
| Service charges on deposit accounts | 537 | 591 | 504 | 1,685 | 1,322 | |||||||||||||||
| Net gain on sale of loans | 1,008 | 523 | 587 | 2,000 | 1,929 | |||||||||||||||
| Other noninterest income | 627 | 616 | 343 | 1,830 | 1,147 | |||||||||||||||
| Total noninterest income | 2,172 | 1,730 | 1,434 | 5,515 | 4,398 | |||||||||||||||
| Noninterest expense: | ||||||||||||||||||||
| Compensation and employee benefits | 10,882 | 10,319 | 9,422 | 30,949 | 27,119 | |||||||||||||||
| Occupancy and equipment | 841 | 840 | 818 | 2,525 | 2,410 | |||||||||||||||
| Data processing | 1,429 | 1,396 | 1,238 | 4,151 | 3,479 | |||||||||||||||
| Professional services | 742 | 939 | 252 | 2,189 | 1,164 | |||||||||||||||
| Other expenses | 2,011 | 2,195 | 1,695 | 5,835 | 4,998 | |||||||||||||||
| Total noninterest expense | 15,905 | 15,689 | 13,425 | 45,649 | 39,170 | |||||||||||||||
| Income before provision for income taxes | 13,807 | 14,861 | 13,412 | 43,659 | 35,700 | |||||||||||||||
| Provision for income taxes | 4,106 | 4,412 | 3,959 | 12,947 | 10,536 | |||||||||||||||
| Net income | $ | 9,701 | $ | 10,449 | $ | 9,453 | $ | 30,712 | $ | 25,164 | ||||||||||
| Net income available to common shareholders | $ | 9,623 | $ | 10,361 | $ | 9,373 | $ | 30,459 | $ | 24,970 | ||||||||||
| Earnings per share | ||||||||||||||||||||
| Basic earnings per share | $ | 1.67 | $ | 1.80 | $ | 1.64 | $ | 5.30 | $ | 4.39 | ||||||||||
| Diluted earnings per share | $ | 1.65 | $ | 1.77 | $ | 1.63 | $ | 5.22 | $ | 4.33 | ||||||||||
| Average shares outstanding | 5,757,192 | 5,754,872 | 5,707,723 | 5,748,975 | 5,693,972 | |||||||||||||||
| Diluted average shares outstanding | 5,837,837 | 5,837,537 | 5,767,401 | 5,833,902 | 5,761,087 | |||||||||||||||
| PRIVATE BANCORP OF AMERICA, INC. Consolidated average balance sheet, interest, yield and rates (Unaudited) (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||
| For the three months ended | ||||||||||||||||||||||||||||||||||||
| Sep 30, 2025 | Jun 30, 2025 | Sep 30, 2024 | ||||||||||||||||||||||||||||||||||
| Average Balance | Interest | Average Yield/Rate | Average Balance | Interest | Average Yield/Rate | Average Balance | Interest | Average Yield/Rate | ||||||||||||||||||||||||||||
| Interest-Earnings Assets | ||||||||||||||||||||||||||||||||||||
| Deposits in other financial institutions | $ | 210,669 | $ | 2,432 | 4.58 | % | $ | 191,701 | $ | 2,184 | 4.57 | % | $ | 171,347 | $ | 2,320 | 5.39 | % | ||||||||||||||||||
| Investment securities | 203,167 | 2,051 | 4.04 | % | 182,772 | 1,800 | 3.94 | % | 142,442 | 1,345 | 3.78 | % | ||||||||||||||||||||||||
| Loans, including LHFS | 2,091,309 | 36,771 | 6.98 | % | 2,069,415 | 38,004 | 7.37 | % | 1,989,748 | 36,353 | 7.27 | % | ||||||||||||||||||||||||
| Total interest-earning assets | 2,505,145 | 41,254 | 6.53 | % | 2,443,888 | 41,988 | 6.89 | % | 2,303,537 | 40,018 | 6.91 | % | ||||||||||||||||||||||||
| Noninterest-earning assets | 45,419 | 43,336 | 24,862 | |||||||||||||||||||||||||||||||||
| Total Assets | $ | 2,550,564 | $ | 2,487,224 | $ | 2,328,399 | ||||||||||||||||||||||||||||||
| Interest-Bearing Liabilities | ||||||||||||||||||||||||||||||||||||
| Interest bearing DDA, excluding brokered | 262,730 | 878 | 1.33 | % | 242,929 | 814 | 1.34 | % | 150,674 | 616 | 1.63 | % | ||||||||||||||||||||||||
| Savings & MMA, excluding brokered | 1,031,209 | 7,456 | 2.87 | % | 1,002,820 | 7,130 | 2.85 | % | 891,697 | 7,745 | 3.46 | % | ||||||||||||||||||||||||
| Time deposits, excluding brokered | 233,094 | 2,185 | 3.72 | % | 218,900 | 2,097 | 3.84 | % | 171,746 | 1,857 | 4.30 | % | ||||||||||||||||||||||||
| Total deposits, excluding brokered | 1,527,033 | 10,519 | 2.73 | % | 1,464,649 | 10,041 | 2.75 | % | 1,214,117 | 10,218 | 3.35 | % | ||||||||||||||||||||||||
| Total brokered deposits | 84,841 | 921 | 4.31 | % | 120,935 | 1,335 | 4.43 | % | 258,614 | 3,250 | 5.00 | % | ||||||||||||||||||||||||
| Total Interest-Bearing Deposits | 1,611,874 | 11,440 | 2.82 | % | 1,585,584 | 11,376 | 2.88 | % | 1,472,731 | 13,468 | 3.64 | % | ||||||||||||||||||||||||
| FHLB advances | 11,000 | 120 | 4.33 | % | 12,868 | 139 | 4.33 | % | 36,142 | 437 | 4.81 | % | ||||||||||||||||||||||||
| Other borrowings | 17,973 | 362 | 7.99 | % | 17,973 | 360 | 8.03 | % | 17,966 | 406 | 8.99 | % | ||||||||||||||||||||||||
| Total Interest-Bearing Liabilities | 1,640,847 | 11,922 | 2.88 | % | 1,616,425 | 11,875 | 2.95 | % | 1,526,839 | 14,311 | 3.73 | % | ||||||||||||||||||||||||
| Noninterest-bearing deposits | 638,306 | 609,760 | 574,466 | |||||||||||||||||||||||||||||||||
| Total Funding Sources | 2,279,153 | 11,922 | 2.08 | % | 2,226,185 | 11,875 | 2.14 | % | 2,101,305 | 14,311 | 2.71 | % | ||||||||||||||||||||||||
| Noninterest-bearing liabilities | 17,582 | 18,804 | 18,205 | |||||||||||||||||||||||||||||||||
| Shareholders' equity | 253,829 | 242,235 | 208,889 | |||||||||||||||||||||||||||||||||
| Total Liabilities and Shareholders' Equity | $ | 2,550,564 | $ | 2,487,224 | $ | 2,328,399 | ||||||||||||||||||||||||||||||
| Net interest income/spread | $ | 29,332 | 4.45 | % | $ | 30,113 | 4.75 | % | $ | 25,707 | 4.20 | % | ||||||||||||||||||||||||
| Net interest margin | 4.65 | % | 4.94 | % | 4.44 | % | ||||||||||||||||||||||||||||||
| PRIVATE BANCORP OF AMERICA, INC. Consolidated average balance sheet, interest, yield and rates (Unaudited) (Dollars in thousands) | ||||||||||||||||||||||||
| Year to Date | ||||||||||||||||||||||||
| Sep 30, 2025 | Sep 30, 2024 | |||||||||||||||||||||||
| Average Balance | Interest | Average Yield/Rate | Average Balance | Interest | Average Yield/Rate | |||||||||||||||||||
| Interest-Earnings Assets: | ||||||||||||||||||||||||
| Deposits in other financial institutions | $ | 201,788 | $ | 6,814 | 4.51 | % | $ | 153,207 | $ | 6,153 | 5.36 | % | ||||||||||||
| Investment securities | 181,395 | 5,356 | 3.94 | % | 128,720 | 3,414 | 3.54 | % | ||||||||||||||||
| Loans | 2,079,818 | 111,340 | 7.16 | % | 1,932,809 | 104,897 | 7.25 | % | ||||||||||||||||
| Total interest-earning assets | 2,463,001 | 123,510 | 6.70 | % | 2,214,736 | 114,464 | 6.90 | % | ||||||||||||||||
| Noninterest-earning assets | 39,141 | 25,334 | ||||||||||||||||||||||
| Total Assets | $ | 2,502,142 | $ | 2,240,070 | ||||||||||||||||||||
| Interest-Bearing Liabilities | ||||||||||||||||||||||||
| Interest bearing DDA, excluding brokered | 250,054 | 2,662 | 1.42 | % | 130,365 | 1,520 | 1.56 | % | ||||||||||||||||
| Savings & MMA, excluding brokered | 996,707 | 21,416 | 2.87 | % | 834,650 | 21,520 | 3.44 | % | ||||||||||||||||
| Time deposits, excluding brokered | 216,257 | 6,238 | 3.86 | % | 164,082 | 5,130 | 4.18 | % | ||||||||||||||||
| Total deposits, excluding brokered | 1,463,018 | 30,316 | 2.77 | % | 1,129,097 | 28,170 | 3.33 | % | ||||||||||||||||
| Total brokered deposits | 129,252 | 4,399 | 4.55 | % | 276,863 | 10,468 | 5.05 | % | ||||||||||||||||
| Total Interest-Bearing Deposits | 1,592,270 | 34,715 | 2.91 | % | 1,405,960 | 38,638 | 3.67 | % | ||||||||||||||||
| FHLB advances | 15,949 | 531 | 4.45 | % | 44,452 | 1,632 | 4.90 | % | ||||||||||||||||
| Other borrowings | 17,976 | 1,087 | 8.08 | % | 17,965 | 1,049 | 7.80 | % | ||||||||||||||||
| Total Interest-Bearing Liabilities | 1,626,195 | 36,333 | 2.99 | % | 1,468,377 | 41,319 | 3.76 | % | ||||||||||||||||
| Noninterest-bearing deposits | 614,319 | 554,700 | ||||||||||||||||||||||
| Total Funding Sources | 2,240,514 | 36,333 | 2.17 | % | 2,023,077 | 41,319 | 2.73 | % | ||||||||||||||||
| Noninterest-bearing liabilities | 19,279 | 17,522 | ||||||||||||||||||||||
| Shareholders' equity | 242,349 | 199,471 | ||||||||||||||||||||||
| Total Liabilities and Shareholders' Equity | $ | 2,502,142 | $ | 2,240,070 | ||||||||||||||||||||
| Net interest income/spread | $ | 87,177 | 4.53 | % | $ | 73,145 | 4.17 | % | ||||||||||||||||
| Net interest margin | 4.73 | % | 4.41 | % | ||||||||||||||||||||
| PRIVATE BANCORP OF AMERICA, INC. Condensed Balance Sheets (Unaudited) (Dollars in thousands, except per share amounts) | ||||||||||||||||||||
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | ||||||||||||||||
| Assets | ||||||||||||||||||||
| Cash and due from banks | $ | 261,367 | $ | 140,619 | $ | 218,481 | $ | 163,876 | $ | 207,174 | ||||||||||
| Interest-bearing time deposits with other institutions | 4,295 | 4,270 | 4,213 | 4,189 | 4,124 | |||||||||||||||
| Investment securities | 199,852 | 188,821 | 156,346 | 145,238 | 141,100 | |||||||||||||||
| Loans held for sale | 314 | 8,826 | 2,066 | 3,008 | 2,040 | |||||||||||||||
| Total loans held-for-investment | 2,081,611 | 2,081,063 | 2,078,653 | 2,085,149 | 2,012,457 | |||||||||||||||
| Allowance for loan losses | (28,785 | ) | (28,178 | ) | (26,437 | ) | (27,267 | ) | (26,594 | ) | ||||||||||
| Loans held-for-investment, net of allowance | 2,052,826 | 2,052,885 | 2,052,216 | 2,057,882 | 1,985,863 | |||||||||||||||
| Operating lease right of use assets | 6,811 | 7,254 | 6,383 | 6,819 | 4,344 | |||||||||||||||
| Premises and equipment, net | 2,252 | 2,213 | 2,432 | 2,335 | 2,345 | |||||||||||||||
| Other assets and interest receivable | 48,764 | 49,992 | 40,736 | 40,664 | 39,383 | |||||||||||||||
| Total assets | $ | 2,576,481 | $ | 2,454,880 | $ | 2,482,873 | $ | 2,424,011 | $ | 2,386,373 | ||||||||||
| Liabilities and Shareholders' Equity | ||||||||||||||||||||
| Liabilities | ||||||||||||||||||||
| Noninterest Bearing | $ | 654,072 | $ | 601,473 | $ | 599,095 | $ | 553,405 | $ | 584,292 | ||||||||||
| Interest Bearing | 1,618,296 | 1,561,407 | 1,593,014 | 1,581,054 | 1,522,839 | |||||||||||||||
| Total Deposits | 2,272,368 | 2,162,880 | 2,192,109 | 2,134,459 | 2,107,131 | |||||||||||||||
| Borrowings | 28,974 | 28,972 | 33,970 | 45,969 | 45,967 | |||||||||||||||
| Accrued interest payable and other liabilities | 17,185 | 16,089 | 21,559 | 20,049 | 19,062 | |||||||||||||||
| Total liabilities | 2,318,527 | 2,207,941 | 2,247,638 | 2,200,477 | 2,172,160 | |||||||||||||||
| Shareholders' equity | ||||||||||||||||||||
| Common stock | 76,403 | 76,398 | 76,156 | 75,377 | 74,688 | |||||||||||||||
| Additional paid-in capital | 4,479 | 4,009 | 3,712 | 4,393 | 4,271 | |||||||||||||||
| Retained earnings | 182,546 | 172,849 | 162,462 | 152,252 | 141,623 | |||||||||||||||
| Accumulated other comprehensive (loss) income | (5,474 | ) | (6,317 | ) | (7,095 | ) | (8,488 | ) | (6,369 | ) | ||||||||||
| Total shareholders' equity | 257,954 | 246,939 | 235,235 | 223,534 | 214,213 | |||||||||||||||
| Total liabilities and shareholders' equity | $ | 2,576,481 | $ | 2,454,880 | $ | 2,482,873 | $ | 2,424,011 | $ | 2,386,373 | ||||||||||
| Book value per common share | $ | 44.45 | $ | 42.54 | $ | 40.63 | $ | 38.76 | $ | 37.21 | ||||||||||
| Tangible book value per common share(1) | $ | 44.11 | $ | 42.20 | $ | 40.29 | $ | 38.40 | $ | 36.87 | ||||||||||
| Shares outstanding | 5,803,016 | 5,805,286 | 5,789,306 | 5,766,810 | 5,756,207 | |||||||||||||||
(1) Non-GAAP measure. See GAAP to non-GAAP Reconciliation table.
| PRIVATE BANCORP OF AMERICA, INC. Condensed Statements of Income (Unaudited) (Dollars in thousands, except per share amounts) | |||||||||||||||||||
| For the three months ended | |||||||||||||||||||
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | |||||||||||||||
| Interest income | $ | 41,254 | $ | 41,988 | $ | 40,268 | $ | 40,430 | $ | 40,018 | |||||||||
| Interest expense | 11,922 | 11,875 | 12,536 | 13,023 | 14,311 | ||||||||||||||
| Net interest income | 29,332 | 30,113 | 27,732 | 27,407 | 25,707 | ||||||||||||||
| Provision for credit losses | 1,792 | 1,293 | 299 | 17 | 304 | ||||||||||||||
| Net interest income after provision for credit losses | 27,540 | 28,820 | 27,433 | 27,390 | 25,403 | ||||||||||||||
| Service charges on deposit accounts | 537 | 591 | 557 | 558 | 504 | ||||||||||||||
| Net gain on sale of loans | 1,008 | 523 | 469 | 932 | 587 | ||||||||||||||
| Other noninterest income | 627 | 616 | 587 | 456 | 343 | ||||||||||||||
| Total noninterest income | 2,172 | 1,730 | 1,613 | 1,946 | 1,434 | ||||||||||||||
| Compensation and employee benefits | 10,882 | 10,319 | 9,748 | 9,539 | 9,422 | ||||||||||||||
| Occupancy and equipment | 841 | 840 | 844 | 847 | 818 | ||||||||||||||
| Data processing | 1,429 | 1,396 | 1,326 | 1,195 | 1,238 | ||||||||||||||
| Professional services | 742 | 939 | 508 | 573 | 252 | ||||||||||||||
| Other expenses | 2,011 | 2,195 | 1,629 | 2,036 | 1,695 | ||||||||||||||
| Total noninterest expense | 15,905 | 15,689 | 14,055 | 14,190 | 13,425 | ||||||||||||||
| Income before provision for income taxes | 13,807 | 14,861 | 14,991 | 15,146 | 13,412 | ||||||||||||||
| Income taxes | 4,106 | 4,412 | 4,429 | 4,488 | 3,959 | ||||||||||||||
| Net income | $ | 9,701 | $ | 10,449 | $ | 10,562 | $ | 10,658 | $ | 9,453 | |||||||||
| Net income available to common shareholders | $ | 9,623 | $ | 10,361 | $ | 10,482 | $ | 10,573 | $ | 9,373 | |||||||||
| Earnings per share | |||||||||||||||||||
| Basic earnings per share | $ | 1.67 | $ | 1.80 | $ | 1.83 | $ | 1.85 | $ | 1.64 | |||||||||
| Diluted earnings per share | $ | 1.65 | $ | 1.77 | $ | 1.80 | $ | 1.82 | $ | 1.63 | |||||||||
| Average shares outstanding | 5,757,192 | 5,754,872 | 5,734,688 | 5,716,291 | 5,707,723 | ||||||||||||||
| Diluted average shares outstanding | 5,837,837 | 5,837,537 | 5,826,229 | 5,813,197 | 5,767,401 | ||||||||||||||
| Performance Ratios | |||||||||||||||||||
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | |||||||||||||||
| ROAA | 1.51 | % | 1.69 | % | 1.74 | % | 1.80 | % | 1.62 | % | |||||||||
| ROAE | 15.16 | % | 17.30 | % | 18.56 | % | 19.28 | % | 18.00 | % | |||||||||
| ROATCE(1) | 15.28 | % | 17.44 | % | 18.74 | % | 19.46 | % | 18.18 | % | |||||||||
| Net interest margin | 4.65 | % | 4.94 | % | 4.61 | % | 4.67 | % | 4.44 | % | |||||||||
| Net interest spread | 4.45 | % | 4.75 | % | 4.41 | % | 4.44 | % | 4.20 | % | |||||||||
| Efficiency ratio(1) | 50.49 | % | 49.27 | % | 47.90 | % | 48.34 | % | 49.46 | % | |||||||||
| Noninterest expense / average assets | 2.47 | % | 2.53 | % | 2.31 | % | 2.39 | % | 2.29 | % | |||||||||
(1) Non-GAAP measure. See GAAP to non-GAAP Reconciliation table.
| PRIVATE BANCORP OF AMERICA, INC. (Unaudited) | ||||||||||||||||||||
| Selected Quarterly Average Balances | ||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||
| For the three months ended | ||||||||||||||||||||
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | ||||||||||||||||
| Total assets | $ | 2,550,564 | $ | 2,487,224 | $ | 2,467,778 | $ | 2,359,950 | $ | 2,328,399 | ||||||||||
| Earning assets | $ | 2,505,145 | $ | 2,443,888 | $ | 2,439,242 | $ | 2,334,999 | $ | 2,303,537 | ||||||||||
| Total loans, including loans held for sale | $ | 2,091,309 | $ | 2,069,415 | $ | 2,078,588 | $ | 2,036,178 | $ | 1,989,748 | ||||||||||
| Total deposits | $ | 2,250,180 | $ | 2,195,344 | $ | 2,173,402 | $ | 2,071,050 | $ | 2,047,197 | ||||||||||
| Total shareholders' equity | $ | 253,829 | $ | 242,235 | $ | 230,731 | $ | 219,963 | $ | 208,889 | ||||||||||
| Loan Balances by Type | ||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | ||||||||||||||||
| Commercial Real Estate (CRE): | ||||||||||||||||||||
| Investor owned | $ | 595,834 | $ | 604,073 | $ | 577,512 | $ | 572,659 | $ | 560,481 | ||||||||||
| Owner occupied | 226,919 | 223,558 | 228,232 | 223,442 | 221,364 | |||||||||||||||
| Multifamily | 145,496 | 160,902 | 163,218 | 162,330 | 175,387 | |||||||||||||||
| Secured by single family | 210,785 | 197,100 | 200,650 | 198,579 | 190,738 | |||||||||||||||
| Land and construction | 53,976 | 51,669 | 70,293 | 62,638 | 68,186 | |||||||||||||||
| SBA secured by real estate | 402,659 | 407,148 | 402,524 | 401,990 | 395,646 | |||||||||||||||
| Total CRE | 1,635,669 | 1,644,450 | 1,642,429 | 1,621,638 | 1,611,802 | |||||||||||||||
| Commercial business: | ||||||||||||||||||||
| Commercial and industrial | 415,041 | 404,489 | 417,258 | 441,182 | 383,874 | |||||||||||||||
| SBA non-real estate secured | 28,982 | 30,183 | 17,004 | 20,205 | 15,101 | |||||||||||||||
| Total commercial business | 444,023 | 434,672 | 434,262 | 461,387 | 398,975 | |||||||||||||||
| Consumer | 1,919 | 1,941 | 1,962 | 2,124 | 1,680 | |||||||||||||||
| Total loans held for investment | $ | 2,081,611 | $ | 2,081,063 | $ | 2,078,653 | $ | 2,085,149 | $ | 2,012,457 | ||||||||||
| Deposits by Type | ||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | ||||||||||||||||
| Noninterest-bearing DDA | $ | 654,072 | $ | 601,473 | $ | 599,095 | $ | 553,405 | $ | 584,292 | ||||||||||
| Interest-bearing DDA, excluding brokered | 268,210 | 251,701 | 257,720 | 251,594 | 182,268 | |||||||||||||||
| Savings & MMA, excluding brokered | 1,038,035 | 990,798 | 981,491 | 887,740 | 920,219 | |||||||||||||||
| Time deposits, excluding brokered | 231,886 | 227,129 | 210,845 | 201,851 | 186,583 | |||||||||||||||
| Total deposits, excluding brokered | 2,192,203 | 2,071,101 | 2,049,151 | 1,894,590 | 1,873,362 | |||||||||||||||
| Total brokered deposits | 80,165 | 91,779 | 142,958 | 239,869 | 233,769 | |||||||||||||||
| Total deposits | $ | 2,272,368 | $ | 2,162,880 | $ | 2,192,109 | $ | 2,134,459 | $ | 2,107,131 | ||||||||||
| PRIVATE BANCORP OF AMERICA, INC. (Unaudited) | ||||||||||||||||||||
| Rollforward of Allowance for Credit Losses | ||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||
| For the three months ended | ||||||||||||||||||||
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | ||||||||||||||||
| Allowance for loan losses: | ||||||||||||||||||||
| Beginning balance | $ | 28,178 | $ | 26,437 | $ | 27,267 | $ | 26,594 | $ | 26,591 | ||||||||||
| Provision for loan losses | 1,666 | 1,741 | 460 | 673 | 3 | |||||||||||||||
| Net (charge-offs) recoveries | (1,059 | ) | - | (1,290 | ) | - | - | |||||||||||||
| Ending balance | 28,785 | 28,178 | 26,437 | 27,267 | 26,594 | |||||||||||||||
| Reserve for unfunded commitments | 1,024 | 899 | 1,348 | 1,509 | 2,165 | |||||||||||||||
| Total allowance for credit losses | $ | 29,809 | $ | 29,077 | $ | 27,785 | $ | 28,776 | $ | 28,759 | ||||||||||
| Asset Quality | ||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | ||||||||||||||||
| Total loans held-for-investment | $ | 2,081,611 | $ | 2,081,063 | $ | 2,078,653 | $ | 2,085,149 | $ | 2,012,457 | ||||||||||
| Allowance for loan losses | $ | (28,785 | ) | $ | (28,178 | ) | $ | (26,437 | ) | $ | (27,267 | ) | $ | (26,594 | ) | |||||
| 30-89 day past due loans | $ | 7,350 | $ | 4,842 | $ | 2,399 | $ | 1,952 | $ | - | ||||||||||
| 90+ day past due loans | $ | 10,314 | $ | 2,850 | $ | 13,223 | $ | 11,512 | $ | 11,512 | ||||||||||
| Nonaccrual loans | $ | 37,660 | $ | 7,716 | $ | 15,565 | $ | 11,512 | $ | 11,512 | ||||||||||
| Other real estate owned (OREO) | $ | 8,568 | $ | 8,568 | $ | - | $ | - | $ | - | ||||||||||
| NPAs / Total assets | 1.79 | % | 0.66 | % | 0.63 | % | 0.47 | % | 0.48 | % | ||||||||||
| NPLs / Total loans held-for-investment | 1.81 | % | 0.37 | % | 0.75 | % | 0.55 | % | 0.57 | % | ||||||||||
| Net quarterly charge-offs (recoveries) | $ | 1,059 | $ | - | $ | 1,290 | $ | - | $ | - | ||||||||||
| Net charge-offs (recoveries) /avg loans (annualized) | 0.20 | % | 0.00 | % | 0.25 | % | 0.00 | % | 0.00 | % | ||||||||||
| Allowance for loan losses to loans HFI | 1.38 | % | 1.35 | % | 1.27 | % | 1.31 | % | 1.32 | % | ||||||||||
| Allowance for loan losses to nonaccrual loans | 76.43 | % | 365.19 | % | 169.85 | % | 236.86 | % | 231.01 | % | ||||||||||
PRIVATE BANCORP OF AMERICA, INC.
(Unaudited)
The following tables present a reconciliation of non-GAAP financial measures to GAAP measures for: efficiency ratio, pretax pre-provision net revenue, average tangible common equity, and return on average tangible common equity. We believe the presentation of certain non-GAAP financial measures provides useful information to assess our consolidated financial condition and consolidated results of operations and to assist investors in evaluating our financial results relative to our peers. These non-GAAP financial measures complement our GAAP reporting and are presented below to provide investors and others with information that we use to manage the business each period. Because not all companies use identical calculations, the presentation of these non-GAAP financial measures may not be comparable to other similarly titled measures used by other companies. These non-GAAP measures should be taken together with the corresponding GAAP measures and should not be considered a substitute of the GAAP measures.
| GAAP to Non-GAAP Reconciliation | ||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||
| For the three months ended | ||||||||||||||||||||
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | ||||||||||||||||
| Efficiency Ratio | ||||||||||||||||||||
| Noninterest expense | $ | 15,905 | $ | 15,689 | $ | 14,055 | $ | 14,190 | $ | 13,425 | ||||||||||
| Net interest income | 29,332 | 30,113 | 27,732 | 27,407 | 25,707 | |||||||||||||||
| Noninterest income | 2,172 | 1,730 | 1,613 | 1,946 | 1,434 | |||||||||||||||
| Total net interest income and noninterest income | 31,504 | 31,843 | 29,345 | 29,353 | 27,141 | |||||||||||||||
| Efficiency ratio (non-GAAP) | 50.49 | % | 49.27 | % | 47.90 | % | 48.34 | % | 49.46 | % | ||||||||||
| Pretax pre-provision net revenue | ||||||||||||||||||||
| Net interest income | $ | 29,332 | $ | 30,113 | $ | 27,732 | $ | 27,407 | $ | 25,707 | ||||||||||
| Noninterest income | 2,172 | 1,730 | 1,613 | 1,946 | 1,434 | |||||||||||||||
| Total net interest income and noninterest income | 31,504 | 31,843 | 29,345 | 29,353 | 27,141 | |||||||||||||||
| Less: Noninterest expense | 15,905 | 15,689 | 14,055 | 14,190 | 13,425 | |||||||||||||||
| Pretax pre-provision net revenue (non-GAAP) | $ | 15,599 | $ | 16,154 | $ | 15,290 | $ | 15,163 | $ | 13,716 | ||||||||||
| Return and Adjusted Return on Average Assets, Average Equity, Average Tangible Equity | ||||||||||||||||||||
| Net income | $ | 9,701 | $ | 10,449 | $ | 10,562 | $ | 10,658 | $ | 9,453 | ||||||||||
| Average assets | 2,550,564 | 2,487,224 | 2,467,778 | 2,359,950 | 2,328,399 | |||||||||||||||
| Average shareholders' equity | 253,829 | 242,235 | 230,731 | 219,963 | 208,889 | |||||||||||||||
| Less: Average intangible assets | 2,025 | 1,953 | 2,098 | 2,028 | 2,051 | |||||||||||||||
| Average tangible common equity (non-GAAP) | 251,804 | 240,282 | 228,633 | 217,935 | 206,838 | |||||||||||||||
| Return on average assets | 1.51 | % | 1.69 | % | 1.74 | % | 1.80 | % | 1.62 | % | ||||||||||
| Return on average equity | 15.16 | % | 17.30 | % | 18.56 | % | 19.28 | % | 18.00 | % | ||||||||||
| Return on average tangible common equity (non-GAAP) | 15.28 | % | 17.44 | % | 18.74 | % | 19.46 | % | 18.18 | % | ||||||||||
| Tangible book value per share | ||||||||||||||||||||
| Total equity | 257,954 | 246,939 | 235,235 | 223,534 | 214,213 | |||||||||||||||
| Less: Total intangible assets | 2,004 | 1,964 | 1,993 | 2,087 | 2,006 | |||||||||||||||
| Total tangible equity | 255,950 | 244,975 | 233,242 | 221,447 | 212,207 | |||||||||||||||
| Shares outstanding | 5,803,016 | 5,805,286 | 5,789,306 | 5,766,810 | 5,756,207 | |||||||||||||||
| Tangible book value per share (non-GAAP) | $ | 44.11 | $ | 42.20 | $ | 40.29 | $ | 38.40 | $ | 36.87 | ||||||||||
PRIVATE BANCORP OF AMERICA, INC.
(Unaudited)
The following tables present a reconciliation of non-GAAP financial measures to GAAP measures for: efficiency ratio, adjusted efficiency ratio, pretax pre-provision net revenue, average tangible common equity, adjusted return on average assets, return on average tangible common equity and adjusted return on average tangible common equity. We believe the presentation of certain non-GAAP financial measures provides useful information to assess our consolidated financial condition and consolidated results of operations and to assist investors in evaluating our financial results relative to our peers. These non-GAAP financial measures complement our GAAP reporting and are presented below to provide investors and others with information that we use to manage the business each period. Because not all companies use identical calculations, the presentation of these non-GAAP financial measures may not be comparable to other similarly titled measures used by other companies. These non-GAAP measures should be taken together with the corresponding GAAP measures and should not be considered a substitute of the GAAP measures.
| GAAP to Non-GAAP Reconciliation | ||||||||
| (Dollars in thousands) | ||||||||
| Year to Date | ||||||||
| Sep 30, 2025 | Sep 30, 2024 | |||||||
| Efficiency Ratio | ||||||||
| Noninterest expense | $ | 45,649 | $ | 39,170 | ||||
| Net interest income | 87,177 | 73,145 | ||||||
| Noninterest income | 5,515 | 4,398 | ||||||
| Total net interest income and noninterest income | 92,692 | 77,543 | ||||||
| Efficiency ratio (non-GAAP) | 49.25 | % | 50.51 | % | ||||
| Pretax pre-provision net revenue | ||||||||
| Net interest income | $ | 87,177 | $ | 73,145 | ||||
| Noninterest income | 5,515 | 4,398 | ||||||
| Total net interest income and noninterest income | 92,692 | 77,543 | ||||||
| Less: Noninterest expense | 45,649 | 39,170 | ||||||
| Pretax pre-provision net revenue (non-GAAP) | $ | 47,043 | $ | 38,373 | ||||
| Return and Adjusted Return on Average Assets, Average Equity, Average Tangible Equity | ||||||||
| Net income | $ | 30,712 | $ | 25,164 | ||||
| Average assets | 2,502,142 | 2,240,070 | ||||||
| Average shareholders' equity | 242,349 | 199,471 | ||||||
| Less: Average intangible assets | 2,025 | 2,185 | ||||||
| Average tangible common equity (non-GAAP) | 240,324 | 197,286 | ||||||
| Return on average assets | 1.64 | % | 1.50 | % | ||||
| Return on average equity | 16.94 | % | 16.85 | % | ||||
| Return on average tangible common equity (non-GAAP) | 17.09 | % | 17.04 | % | ||||
FAQ
What were Private Bancorp of America (PBAM) Q3 2025 earnings and EPS?
How did PBAM's core deposits change in Q3 2025?
What credit quality trends did PBAM report for Q3 2025?
How did PBAM's net interest margin perform in Q3 2025?
Did PBAM make any strategic moves in Q3 2025 that affect growth?
What happened to PBAM's investment securities and liquidity in Q3 2025?
