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Professional Holding Corp. (PFHD) reported a quarterly net income of $4.8 million or $0.34 per diluted share for Q1 2021, down from $5.5 million in Q4 2020. Total assets increased 8.6% to $2.2 billion, with total loans rising 4.3% to $1.7 billion. Nonperforming assets decreased significantly to $2.8 million, marking a 73.4% drop. The company also authorized an additional $10 million for its stock repurchase program. Despite a 13.6% decrease in net income from the previous quarter, the company maintains a strong capital position.
Professional Holding Corp. (NASDAQ:PFHD) is set to release its financial results for Q1 2021 on May 5, 2021. The announcement will include key metrics detailing the company's performance and future outlook. The company operates primarily in South Florida, focusing on commercial banking products for small to medium-sized businesses. Investors should note that this announcement will also encompass forward-looking statements, which involve risks including market conditions and the ongoing impact of the COVID-19 pandemic.
Professional Holding Corp. (NASDAQ:PFHD) will release its financial results for the fourth quarter and year ending December 31, 2020, on January 29, 2021, after market close. The results will include a press release and an investor slide presentation. The company emphasizes forward-looking statements that may be influenced by several factors, including economic conditions, the impact of COVID-19, and competition. Professional Bank, under the holding company, offers commercial banking products primarily in Florida and operates nine locations in the area.
Professional Holding Corp. (NASDAQ:PFHD) reported a net income of $1.0 million for Q3 2020, down from $3.1 million in Q2 2020. However, net income rose from $0.5 million in Q3 2019. For the first nine months, net income totaled $2.8 million, a 105% increase year-over-year. Net interest income increased to $17.5 million, while noninterest income remained stable at $1.0 million. The company experienced strong loan growth, with nonperforming assets rising to $9.9 million. Total assets reached $2.1 billion with a strong capital position, maintaining a risk-based capital ratio of 15.7%.
Professional Holding Corp. (NASDAQ: PFHD) announces the opening of a new Loan Production Office in Bedford, New Hampshire, focusing on M&A lending for the search fund community. Led by Zach Duprey, previously from BankProv, the office aims to finance acquisitions of small businesses with an emphasis on equity and debt offerings. Duprey's experience includes over $250 million in loan closings and 60 acquisitions. The initiative aligns with the increasing interest in search funds, which leverage MBA graduates to acquire existing businesses, enhancing corporate governance and reporting standards.
Professional Holding Corp. (NASDAQ:PFHD) plans to release its financial results for Q3 2020 on October 29, 2020. The announcement will include a press release and an investor slide presentation. This forward-looking statement highlights potential risks and uncertainties, including economic conditions, the impact of the COVID-19 pandemic, and the integration of Marquis Bancorp. The company operates Professional Bank in South Florida, focusing on relationship-driven commercial banking services for small to medium businesses.
Professional Holding Corp. (NASDAQ: PFHD) has appointed two new members to its Board of Directors, increasing its total to 11 members. Ava Parker, President of Palm Beach State College, and Margaret S. Blakey, Executive VP at Triple Five, bring extensive experience in their respective fields. Chairman Daniel R. Sheehan expressed confidence that their unique expertise will support sensible growth and enhance market share. Parker and Blakey's backgrounds in leadership, investment, and community involvement are expected to contribute positively to the bank's strategies amid a post-pandemic landscape.