Professional Holding Corp. To Announce Fourth-Quarter and Annual 2020 Financial Results

Rhea-AI Summary

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.

Positive

• None.

Negative

• Potential risks related to COVID-19 impacting operations and credit quality.
• Concentration risk due to the lack of a diversified loan portfolio in South Florida.

CORAL GABLES, FL / ACCESSWIRE / January 20, 2021 / Professional Holding Corp. (NASDAQ:PFHD) announced today that it plans to make its financial results for the quarter and year ended December 31, 2020, public in a press release and investor slide presentation after the market closes on Friday, January 29, 2021.

Forward Looking Statements

This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements contained in this presentation that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements preceded by, followed by or including words such as "anticipate," "intend," "believe," "estimate," "plan," "seek," "project" or "expect," "may," "will," "would," "could" or "should" and similar expressions. Forward looking statements represent the Company's current expectations, plans or forecasts and involve significant risks and uncertainties. Several important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include, without limitation, current and future economic and market conditions, including those that could impact credit quality and the ability to generate loans and gather deposits; the duration, extent and impact of the COVID-19 pandemic, including the governments' responses to the pandemic, on our and our customers' operations, personnel, and business activity (including developments and volatility), as well as COVID-19's impact on the credit quality of our loan portfolio and financial markets and general economic conditions; the effects of our lack of a diversified loan portfolio and concentration in the South Florida market; the impairment estimate related to Coex and the Company's pursuit of actions to mitigate the ultimate losses on the Coex credit and the ability to recover as much of the outstanding indebtedness as possible; the impact of current and future interest rates and expectations concerning the actual timing and amount of interest rate movements; competition; our ability to execute business plans; geopolitical developments; legislative and regulatory developments; inflation or deflation; market fluctuations; natural disasters (including pandemics such as COVID-19); potential business uncertainties related to the integration of Marquis Bancorp (MBI), including into our operations critical accounting estimates; and other factors described in our Form 10-K for the year ended December 31, 2019, Form 10-Q for the fiscal quarter ended March 31, 2020, Form 10-Q for the fiscal quarter ended June 30, 2020, Form 10-Q for the fiscal quarter ended September 30, 2020, and other filings with the Securities and Exchange Commission. The Company disclaims any obligation to update any of the forward-looking statements included herein to reflect future events or developments or changes in expectations, except as may be required by law.

About Professional Holding Corp. and Professional Bank:

Professional Holding Corp. (NASDAQ:PFHD), is the financial holding company for Professional Bank, a Florida state-chartered bank established in 2008. Professional Bank focuses on providing creative, relationship-driven commercial banking products and services designed to meet the needs of small to medium-sized businesses, the owners and operators of these businesses, other professional entrepreneurs and high net worth individuals. Professional Bank currently operates through a network of nine locations in the regional areas of Miami, Broward, and Palm Beach counties. It also has a Digital Innovation Center located in Cleveland, Ohio and a loan production office in New England. For more information, visit www.myprobank.com. Member FDIC. Equal Housing Lender.

Media contacts:
Todd Templin or Eric Kalis, BoardroomPR
ttemplin@boardroompr.com/ekalis@boardroompr.com
954-290-0810

SOURCE: Professional Holding Corp.

View source version on accesswire.com:
https://www.accesswire.com/625139/Professional-Holding-Corp-To-Announce-Fourth-Quarter-and-Annual-2020-Financial-Results

FAQ

When will Professional Holding Corp. announce its financial results for 2020?

Professional Holding Corp. will announce its financial results for the fourth quarter and year ended December 31, 2020, on January 29, 2021, after market close.

What financial metrics will be included in the upcoming PFHD press release?

The press release will include key financial metrics for the fourth quarter and full year of 2020.

What are the potential risks mentioned in Professional Holding Corp.'s press release?

The press release highlights risks including economic conditions, the impact of COVID-19, and concentration risks in the South Florida market.