PRIVATE BANCORP OF AMER - PBAM STOCK NEWS

CalPrivate Bank, a subsidiary of Private Bancorp of America, Inc. (OTCQX: PBAM), has been ranked as the 10th best bank in the U.S. by Bank Director's RankingBanking® 'The Best U.S. Banks 2024' list. The bank also secured the #1 position for both Return on Assets (ROA) and Return on Equity (ROE) among banks with less than $5 billion in assets. This recognition highlights CalPrivate Bank's commitment to excellence, innovation, and client-focused banking solutions.

The RankingBanking® list evaluates banks based on profitability, capital adequacy, and asset quality using four key metrics: core return on average equity, core return on average assets, tangible common equity ratio, and nonperforming assets to loans and other real estate owned. CEO Rick Sowers attributes this success to the team's dedication in delivering outstanding service and innovative solutions to clients.

Private Bancorp of America (OTCQX: PBAM) reported strong financial results for Q2 2024. The company achieved net income of $7.8 million, or $1.35 per diluted share, representing a return on average assets of 1.40% and a return on average tangible common equity of 15.99%. Key highlights include:

- Loans held-for-investment grew 3.8% to $1.98 billion
- Total deposits increased 5.1% to $2.00 billion
- Net interest margin expanded to 4.48%
- Tangible book value per share rose 3.3% to $34.65

The bank maintained strong asset quality with total criticized and classified loans at 0.85% of total loans. PBAM's capital ratios remain well above 'well capitalized' levels, with a Tier 1 leverage ratio of 10.00%.

Private Bancorp of America, Inc. reported strong financial results for the first quarter of 2024, with net income of $7.9 million and diluted earnings per share of $1.36. The company experienced growth in loans held-for-investment, total deposits, and net interest income. Despite an increase in noninterest expenses, the company remains focused on client service and growth opportunities in the market.

Private Bancorp of America, Inc. (PBAM) reported a net income of $7.9 million for Q4 2023, representing a 5.6% increase from the previous year. The company achieved record net income of $40.9 million for FY'23, with a 16.3% increase in loans held-for-investment and a net reversal of $6.1 million for provision for credit losses. Total deposits increased by 12.0% from the previous year, and the company's net interest margin was 4.65% for FY'23.

Private Bancorp of America, Inc. reports net income of $8.5 million for the third quarter of 2023

Private Bancorp of America, Inc. and CalPrivate Bank reported record net income of $15.5 million for Q2 2023, up 73% from the previous quarter and 253% from Q2 2022. Diluted earnings per share also increased by 71% and 249% respectively. Loans held-for-investment increased by 5.8% to $1.7 billion. Core deposits grew by 5.3% to $1.5 billion. Total deposits rose by 7.3% to $1.7 billion. Net interest margin was 4.73% for Q2 2023. Tangible book value per share increased by $2.52 to $28.82.

Private Bancorp of America (PBAM) reported a record net income of $9.0 million for Q1 2023, representing a 20.6% increase from Q4 2022 and a 38.0% year-over-year rise. The diluted earnings per share reached $1.57, up 20.1% quarter-over-quarter and 38.7% year-over-year. Total loans held-for-investment (HFI) increased to $1.6 billion, up 2.2% from the previous quarter. However, total deposits decreased to $1.6 billion, a decline of $91 million, mainly due to shifting brokered deposits. The company adopted CECL, which impacted retained earnings negatively. The net interest margin dropped to 4.90% from 5.17%, driven by increased funding costs. Despite challenges, return on equity hit a record 24.8%.

Private Bancorp of America, Inc. (PBAM) reported strong financial results for the fourth quarter and full year ended December 31, 2022. Net income for Q4 reached $7.4 million, a 17% increase from the previous quarter; diluted earnings per share were $1.31. Total loans held-for-investment rose to $1.6 billion, up 6.8% from Q3 2022.

For the full year, net income was $24.7 million, up 17.4% year-over-year, with a diluted EPS of $4.33. The net interest margin improved to 5.17% in Q4. Despite rising funding costs and a slight decline in noninterest income, the company remained optimistic about future growth and performance.