1ST CAP BANCORP - FISB STOCK NEWS

1st Capital Bancorp (FISB) reported a net income of $1.31 million for Q4 2022, down 51.0% from Q3 2022 and 31.0% year-over-year. Earnings per share (EPS) for Q4 was $0.24, compared to $0.48 in Q3 2022. The return on average equity was 10.47%, a decline from 16.44% in Q3 2022. Total assets decreased by 5.7% to $942.2 million. The net interest margin improved to 3.63%, while the provision for loan losses was noted at $523,000. Overall, the company continues to focus on optimizing its balance sheet in light of rising interest rates.

1st Capital Bancorp (OTCQX: FISB) reported a net income of $2.66 million for Q3 2022, marking an 18% increase from Q3 2021. Earnings per share increased to $0.48, up from $0.40 a year earlier. The return on average equity stood at 16.44%, reflecting improved performance. Total assets were $994.6 million, with total loans at $586.8 million, a 3.9% increase year-over-year. However, net interest income dipped by 2.86% to $8.59 million. The company showed strong asset quality with nonperforming assets at just 0.04%.

1st Capital Bancorp (FISB) announced the appointment of Anne C. Leach as a director, enhancing its board with her legal expertise. Leach, a partner at Ottone Leach & Ray LLP, brings significant experience in estate planning and business transactions, particularly in the agricultural sector. Chairman Kurt Gollnick expressed enthusiasm about her joining, citing her background as a complement to the board's capabilities. Based in Salinas, California, 1st Capital Bank serves a diverse clientele and offers various credit products, aiming to strengthen its presence on the Central Coast.

1st Capital Bancorp (OTCQX: FISB) reported a net income of $2.52 million for Q2 2022, representing a 20.49% increase from Q1 2022 and a 29.25% increase from Q2 2021. Earnings per share rose to $0.45 from $0.34 and $0.37 in the prior-year quarters. The company's return on average equity was 14.82%, while net interest income increased to $8.84 million, up 17.8% year-over-year. Nonperforming assets remained low at 0.01%. Total assets reached $990.1 million, with deposits increasing by 8.7% to $928.3 million.

1st Capital Bancorp (OTCQX: FISB) announced the appointment of Jeff Mercer as chief credit officer, effective July 1, 2022. Mercer, who previously served as deputy chief credit officer, has a 29-year career in commercial banking, including positions at Bank of America and Community West Bank. In conjunction with this change, Jon Ditlevsen will take on the responsibilities of chief lending officer. 1st Capital Bank caters to commercial enterprises and residents in California's Central Coast, offering diverse credit products and banking services.

1st Capital Bancorp (OTCQX: FISB) announced management changes, including the retirement of Executive Vice President and Chief Lending Officer Stuart Tripp effective June 30, 2022. President Jon Ditlevsen will take over Mr. Tripp's responsibilities. Additionally, Executive Vice President and Chief Credit Officer Marci Davis has resigned, with Deputy Chief Credit Officer Jeff Mercer appointed as Interim Chief Credit Officer. The bank, with assets of $1.01 billion, targets commercial enterprises and professionals in California's Central Coast region.