Private Bancorp of America (PBAM) taps new credit chief
Rhea-AI Filing Summary
Private Bancorp of America, Inc., parent of CalPrivate Bank, announced the appointment of Andra Frazier as the Bank’s new Executive Vice President and Chief Credit Officer. She brings decades of experience at regional and community banks to support the Bank’s strategic growth and credit risk management.
CalPrivate Bank serves high-net-worth clients and businesses across several California markets and via digital banking. As of June 30, 2026, the Company reported $2.71 billion in assets, $2.13 billion in loans, and $2.38 billion in deposits. For the quarter ended June 30, 2026, net income was $13.1 million with $2.27 in diluted EPS. The Bank highlights multiple industry recognitions, including being ranked the 10th best bank in the country by Bank Director’s RankingBanking and #1 in its asset class for ROA and ROE.
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8-K Event Classification
Key Figures
Key Terms
Chief Credit Officer financial
return on assets (ROA) financial
return on equity (ROE) financial
SBA Preferred Lender financial
Bauer Financial 5-star rated bank financial
treasury services financial
FAQ
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 7.01 Regulation FD Disclosure.
On August 17, 2026, Private Bancorp of America, Inc. (the “Company”), the holding company for CalPrivate Bank (the “Bank”), issued a press release announcing the appointment of Andra Frazier as the Bank’s Executive Vice President and Chief Credit Officer. A copy of this press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.
The information contained in this Item 7.01, as well as Exhibit 99.1 referenced herein, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liabilities under that Section, nor shall it be deemed incorporated by reference in any registration statement or other filings of the Company under the Securities Act of 1933, as amended, except as shall be set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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99.1 |
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Press Release of Private Bancorp of America, Inc. dated August 17, 2026 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Private Bancorp of America, Inc. |
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August 17, 2026 |
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/s/ Richard L. Sowers |
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Richard L. Sowers |
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President and Chief Executive Officer |
Exhibit 99.1
FOR IMMEDIATE RELEASE
CALPRIVATE BANK ANNOUNCES APPOINTMENT OF NEW CHIEF CREDIT OFFICER.
La Jolla, Calif. – August 17, 2026 (GLOBE NEWSWIRE) - Private Bancorp of America, Inc. (PBAM) (“Company”), the parent company of CalPrivate Bank (“Bank”) announced the appointment of Andra Frazier as the Bank’s new Executive Vice President and Chief Credit Officer. Ms. Frazier brings decades of diverse experience working in the banking industry at both regional and community banks to support CalPrivate Bank’s strategic growth and credit risk management.
Rick Sowers, President and Chief Executive Officer of the Company and Bank stated, “We are thrilled to have Andra join us and lead our Team of seasoned credit professionals. Her background and experience fit nicely with our credit and risk management culture. She has a growth mindset and we look forward to her contributions.”
“I am very excited to join the CalPrivate Bank Team! I have always admired its culture, leadership, and the work being done here, and am looking forward to contributing to the success of the company,” said Ms. Frazier. “As Henry Ford once said, ‘if everyone moves forward together, then success takes care of itself.’ It is a privilege to join such a talented group of professionals and am eager to bring my expertise to support the company’s growth. I am confident that together we will accomplish great things!”
About Private Bancorp of America, Inc.
Private Bancorp of America, Inc. (NASDAQ: PBAM) is the holding company for CalPrivate Bank, which operates offices in Coronado, San Diego, La Jolla, Newport Beach, El Segundo, Beverly Hills, and 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. CalPrivate 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 three times higher than the median domestic bank. CalPrivate Bank offers comprehensive deposit and treasury services, rapid and creative loan options including various portfolio and government-guaranteed lending programs, 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 5% of banks in the U.S. with assets between $2B and $10B by American Banker for both 2024 and 2025. Additionally, CalPrivate Bank is a Bauer Financial 5-star rated bank, an SBA Preferred Lender, and has been honored as Community
Bank SBA 504 Lender of the Year by the NADCO Community Impact Awards, exemplifying excellence in the banking industry. These prestigious rankings highlight the Bank’s commitment to delivering exceptional banking services and setting new industry standards.
As of June 30, 2026, the Company had $2.71 billion in assets, $2.13 billion in loans and $2.38 billion in deposits. For the quarter ended June 30, 2026, net income was $13.1 million and earnings per diluted share was $2.27.
Learn more at www.investors.pbam.com.
Investor Relations Contact
Rick Sowers
President and Chief Executive Officer
Private Bancorp of America, Inc.
(424) 303-4894
Cory Stewart
Executive Vice President and Chief Financial Officer
Private Bancorp of America, Inc.
(206) 293-3669
Email: investors@calprivate.bank
Forward-Looking Statements
This press release 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. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Company. There can be no assurance that future developments affecting the Company will be the same as those anticipated by management. The Company cautions readers that a number of important factors could cause actual results to differ materially from those expressed in, or implied or projected by, such forward-looking statements. These risks and uncertainties include, but are not limited to, the following: the strength of the U.S. economy in general and the strength of the local economies in which we conduct operations; adverse developments in the banking industry and the potential impact of such developments on customer confidence, liquidity, and regulatory responses to these developments; the effects of, and changes in, trade, monetary, and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; interest rate, liquidity, economic, market, credit, operational, and inflation risks associated with our business, including the speed and predictability of changes in these risks; our ability to attract and retain deposits and to access other sources of liquidity, particularly in a higher interest rate environment, and the quality and composition of our deposits; business and economic conditions generally and in the financial services industry, nationally and within our current and future geographic markets, including the tight labor market, ineffective management of the U.S. federal budget or debt, or turbulence or uncertainty in domestic or foreign financial markets; the effects of concentrations in our loan portfolio, including Small Business Administration (“SBA”) loans, commercial real estate and the risks of geographic and industry concentrations; possible credit-related impairments of securities held by us; changes in the
level of our nonperforming assets and charge-offs; the timely development of competitive new products and services and the acceptance of these products and services by new and existing customers; the ability to attract and retain essential personnel or changes in our essential personnel; the impact of changes in financial services policies, laws and regulations, including those concerning taxes, banking, securities and insurance, and the application thereof by regulatory bodies; compliance risks, including the costs of monitoring, testing, and maintaining compliance with complex laws and regulations; the effectiveness of our risk management framework and quantitative models; the effect of changes in accounting policies and practices or accounting standards, as may be adopted from time to time by bank regulatory agencies, the SEC, the Public Company Accounting Oversight Board, the Financial Accounting Standards Board, or other accounting standards setters; the impact of governmental efforts to restructure or modify the U.S. financial regulatory system; the impact of changes in the Federal Deposit Insurance Corporation (“FDIC”) insurance assessment rate or the rules and regulations related to the calculation of the FDIC insurance assessment amount; changes in consumer spending, borrowing, and savings habits; changes in the financial performance and/or condition of our borrowers; our ability to effectively compete with banks, nonbank financial institutions and financial technology companies and the effects of competition in the financial services industry on our business; the effects of disruptions or instability in the financial system, including as a result of the failure of a financial institution or other participants in it, or geopolitical instability, including war, terrorist attacks, pandemics and man-made and natural disasters; cybersecurity threats and the cost of defending against them; uncertainty around, and disruption from, new and emerging technologies, including the adoption and utilization of artificial intelligence (“AI”) and generative AI; climate change, including the enhanced regulatory, compliance, credit, and reputational risks and costs; unanticipated regulatory, legal, or judicial proceedings; the one-time and incremental costs of operating as a public company; our ability to meet our obligations as a public company, including our obligation under Section 404 of the Sarbanes-Oxley Act of 2002; and our ability to manage the risks involved in the foregoing. Additional factors that could cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company’s Registration Statement on Form 10 filed with the SEC and available at the SEC’s Internet site (http://www.sec.gov).