Private Bancorp of America, Inc. (PBAM) is the issuer for which Ernest Rady Trust U/D/T March 10, 1983, Ernest S. Rady, Insurance Company of the West (ICW) and American Assets Investment Management, LLC (AAIM) report collective beneficial ownership of 559,432 common shares, or 9.8%. The percentage is based on 5,729,788 shares outstanding as of August 31, 2026. ICW owns 548,651 shares and the Trust holds 10,781; the Trust’s and Mr. Rady’s reported totals include ICW shares through deemed dispositive power. AAIM has investment trading authority over ICW’s shares and disclaims beneficial ownership.
Positive
None.
Negative
None.
Key Figures
Collective beneficial ownership:559,432 sharesPercentage of class:9.8%Common shares outstanding:5,729,788 shares+2 more
5 metrics
Collective beneficial ownership559,432 sharesReported collectively by the reporting persons
Percentage of class9.8%Collective beneficial ownership
Common shares outstanding5,729,788 sharesAs of August 31, 2026
ICW-owned shares548,651 sharesShares held by Insurance Company of the West
Trust-held shares10,781 sharesShares held by Ernest Rady Trust U/D/T March 10, 1983
"Collectively the Reporting Persons beneficially own an aggregate"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Shared Voting Powerregulatory
"Shared Voting Power 10,781.00"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
Shared Dispositive Powerregulatory
"Shared Dispositive Power 559,432.00"
separately managed accountfinancial
"held by ICW in a separately managed account"
A separately managed account (SMA) is a personalized investment portfolio owned by a single investor and run by a professional manager who buys and sells securities on that investor’s behalf. It matters to investors because an SMA offers tailored asset selection, tax handling, and transparency—like hiring a personal chef who prepares meals to your dietary needs rather than sharing a set menu—so you can align holdings with your goals and see exactly what you own.
investment management agreementfinancial
"entered into an investment management agreement with ICW"
An investment management agreement is a written contract that hires a professional to make buying, selling and strategy decisions for an investment account or fund, and sets out their duties, fees, risk limits, performance measures and reporting requirements. It matters to investors because the agreement determines who controls the money, how much the service costs, what risks are allowed, and how success or failure is measured—think of it as the service contract that defines expectations and remedies for a hired portfolio manager.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many PBAM shares do the reporting persons beneficially own?
The reporting persons collectively report beneficial ownership of 559,432 PBAM common shares, or 9.8%, based on 5,729,788 shares outstanding as of August 31, 2026. Ernest Rady Trust and Ernest S. Rady each report the same aggregate amount, which includes ICW's shares through deemed dispositive power.
Who has voting and disposition power over PBAM shares?
The Trust and Ernest S. Rady each report shared voting power over 10,781 shares and shared dispositive power over 559,432 shares. ICW reports sole voting power over 548,651 shares and shared dispositive power over 548,651 shares. AAIM reports zero voting power and shared dispositive power over the same ICW-held shares.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Private Bancorp of America, Inc.
(Name of Issuer)
Common Stock, no par value per share
(Title of Class of Securities)
74274F100
(CUSIP Number)
07/29/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
74274F100
1
Names of Reporting Persons
Ernest Rady Trust U/D/T March 10, 1983
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CALIFORNIA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
10,781.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
559,432.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
559,432.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.8 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The percentage of class is calculated based upon 5,729,788 shares of Common Stock outstanding as of August 31, 2026, as reported on the Issuer's Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Comission (the "SEC") on September 4, 2026.
SCHEDULE 13G
CUSIP Number(s):
74274F100
1
Names of Reporting Persons
Ernest S. Rady
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
10,781.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
559,432.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
559,432.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.8 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: The percentage of class is calculated based upon 5,729,788 shares of Common Stock outstanding as of August 31, 2026, as reported on the Issuer's Quarterly Report on Form 10-Q filed with the SEC on September 4, 2026.
SCHEDULE 13G
CUSIP Number(s):
74274F100
1
Names of Reporting Persons
Insurance Company of the West
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CALIFORNIA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
548,651.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
548,651.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
548,651.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.6 %
12
Type of Reporting Person (See Instructions)
IC
Comment for Type of Reporting Person: The percentage of class is calculated based upon 5,729,788 shares of Common Stock outstanding as of August 31, 2026, as reported on the Issuer's Quarterly Report on Form 10-Q filed with the SEC on September 4, 2026.
SCHEDULE 13G
CUSIP Number(s):
74274F100
1
Names of Reporting Persons
American Assets Investment Management, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
548,651.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
548,651.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.6 %
12
Type of Reporting Person (See Instructions)
IA
Comment for Type of Reporting Person: American Assets Investment Management, LLC ("AAIM") is an investment adviser registered under Section 203 of the Investment Advisers Act of 1940. As of the date of this filing, the securities reported in this Schedule 13G were held by Insurance Company of the West ("ICW") in a separately managed account to which AAIM serves as the investment adviser. AAIM has entered into an investment management agreement with ICW whereby ICW has given AAIM trading authority, including the discretionary power to dispose of the shares, in the separately managed account. However, the securities reported in this schedule are owned by ICW and AAIM disclaims beneficial ownership of such securities. In addition, the filing of this Schedule 13G shall not be construed as an admission that the reporting person or any of its affiliates is the beneficial owner of any securities covered by this Schedule 13G for any purposes other than Section 13(d) of the Securities Exchange Act of 1934. The percentage of class is calculated based upon 5,729,788 shares of Common Stock outstanding as of August 31, 2026, as reported on the Issuer's Quarterly Report on Form 10-Q filed with the SEC on September 4, 2026.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Private Bancorp of America, Inc.
(b)
Address of issuer's principal executive offices:
9404 Genesee Avenue, Suite 100, La Jolla, CA 92037
Item 2.
(a)
Name of person filing:
Ernest Rady Trust U/D/T March 10, 1983 (the "Trust"), Ernest S. Rady, Insurance Company of the West ("ICW") and American Assets Investment Management, LLC ("AAIM" and, together with the Trust, Mr. Rady and ICW the "Reporting Persons").
(b)
Address or principal business office or, if none, residence:
The principal business address for the Trust and AAIM is 3430 Carmel Moutain Road, Suite 150, San Diego, CA, 92121.
The principal business address for Mr. Rady is 3420 Carmel Mountain Road, Suite 100, San Diego CA, 92121.
The principal business address for ICW is 15025 Innovation Drive, San Diego, CA, 92128.
(c)
Citizenship:
The Trust is formed and established in the State of California. Mr. Rady is a citizen of the United States. ICW is organized in the State of California. AAIM is incorporated in Delaware.
(d)
Title of class of securities:
Common Stock, no par value per share
(e)
CUSIP Number(s):
74274F100
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
Row 9 of each Reporting Person's cover page to this Schedule 13G sets forth the aggregate number of shares of Common Stock of the Issuer beneficially owned by such Reporting Person and is incorporated by reference.
The information set forth in Row 9 on the cover page for the Trust includes (a) 10,781 shares of Common Stock held by the Trust and (b) 548,651 shares of Common Stock held by ICW, for which the Trust may be deemed to have dispositive power by virtue of its role as the Managing Member of AAIM, which serves as the investment adviser to ICW.
The information set forth in Row 9 on the cover page for Mr. Rady includes (a) 10,781 shares of Common Stock held by the Trust, for which Mr. Rady serves as the sole trustee and (b) 548,651 shares of Common Stock held by ICW, which is indirectly controlled by Mr. Rady by virtue of Mr. Rady's positions at AAIM as Chief Executive Officer of AAIM and Trustee of the Managing Member of AAIM, which serves as the investment adviser to ICW and for which Mr. Rady may be deemed to have dispositive power.
The information set forth in Row 9 on the cover page for AAIM includes 548,651 shares of Common Stock held by ICW, for which AAIM serves as the investment adviser with trading authority, including discretionary power to dispose of the shares.
Collectively, the Reporting Persons beneficially own an aggregate of 559,432 shares of Common Stock of the Issuer.
(b)
Percent of class:
Row 11 of each Reporting Person's cover page to this Schedule 13G sets forth the percentage of the shares of Common Stock beneficially owned by such Reporting Person based on 5,729,788 shares of Common Stock outstanding as of August 31, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on September 4, 2026, and is incorporated by reference.
Collectively, the Reporting Persons beneficially owned 9.8% of the Issuer's outstanding Common Stock as of August 31, 2026.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Row 5 of each Reporting Person's cover page to this Schedule 13G sets forth the sole power to vote or to direct the vote of the securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference.
(ii) Shared power to vote or to direct the vote:
Row 6 of each Reporting Person's cover page to this Schedule 13G sets forth the shared power to vote or to direct the vote of the securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference.
(iii) Sole power to dispose or to direct the disposition of:
Row 7 of each Reporting Person's cover page to this Schedule 13G sets forth the sole power to dispose or to direct the disposition of the securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference.
(iv) Shared power to dispose or to direct the disposition of:
Row 8 of each Reporting Person's cover page to this Schedule 13G sets forth the shared power to dispose or to direct the disposition of the securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
Ernest S. Rady has the power to direct the receipt of dividends relating to, or the disposition of the proceeds of the sale of, all of the Shares held by ERT as reported herein.
Ernest S. Rady and AAIM have the power to direct the receipt of dividends relating to, or the disposition of the proceeds of the sale of, all of the Shares held by ICW as reported herein.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
Not Applicable
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Ernest Rady Trust U/D/T March 10, 1983
Signature:
/s/ Ernest S. Rady
Name/Title:
Ernest S. Rady/Trustee
Date:
09/24/2026
Ernest S. Rady
Signature:
/s/ Ernest S. Rady
Name/Title:
Ernest S. Rady
Date:
09/24/2026
Insurance Company of the West
Signature:
/s/ Nicole Rathsam
Name/Title:
Senior Vice President, Chief Financial Officer
Date:
09/24/2026
American Assets Investment Management, LLC
Signature:
/s/ Ernest S. Rady
Name/Title:
Chief Executive Officer, Trustee of Managing Member
