Welcome to our dedicated page for Pacific West Bk news (Ticker: PWBK), a resource for investors and traders seeking the latest updates and insights on Pacific West Bk stock.
Pacific West Bancorp (PWBK) delivers relationship-focused banking services across the Pacific Northwest, combining local expertise with modern financial solutions. This news hub provides investors and stakeholders with timely updates on strategic developments, financial performance, and operational milestones.
Access comprehensive coverage of earnings reports, leadership transitions, and product innovations. Track the bank's progress in core areas including commercial lending, deposit growth strategies, and digital banking enhancements. Our curated collection ensures you stay informed about regulatory filings, market positioning, and community initiatives.
Discover updates on PWBK's disciplined approach to risk management, credit quality maintenance, and expense control measures. The bank's commitment to balancing traditional service models with technological advancements remains a recurring theme across announcements.
Bookmark this page for direct access to primary source materials and analysis-free reporting. Check regularly for new filings related to capital management, branch network optimization, and customer experience improvements.
Pacific West Bancorp (PWBK) reported Q1 2025 net income of $81 thousand ($0.03 per diluted share), marking a 132.2% increase from Q1 2024. Key highlights include:
- Total deposits reached $290.7M, growing 6.6% quarterly and 21.3% year-over-year
- Total loans increased 1.4% to $256.3M, with $14.5M in new lending commitments
- Borrowings reduced by 24.5% to $14.6M
- Interest income reached $4.4M, up 7.5% year-over-year
- Net interest margin expanded to 3.10%, up 42 basis points year-over-year
- Non-interest income grew 18% quarterly and 48.9% annually
- Cost of interest-bearing deposits decreased to 3.23%, down 23 basis points from previous quarter
The loan portfolio maintained a 5.83% yield with an Allowance for Credit Losses at 1.44% of total loans and debt securities.
Pacific West Bancorp (PWBK) reported Q4 2024 net income of $155,000 ($0.06 per diluted share), with a full-year 2024 net loss of ($338,000) or ($0.13) per diluted share. Key Q4 highlights include core deposits growth of $7.2M, $11.0M growth in unfunded lending commitments, and retirement of $13.5M in borrowings.
For full-year 2024, interest income reached $17.4M, up 19.8% from 2023. Core deposits grew by $54.4M (25.15%), while non-interest-bearing deposits increased by $7.0M (11.06%). The bank maintained a 'well-capitalized' status with a 10.29% leverage ratio. Net interest margin improved to 3.06% in Q4, up 31 basis points from Q3. Total deposits reached $272.7M, marking a 14.8% increase year-over-year, with core deposits representing 99.23% of total deposits.
Pacific West Bancorp (PWBK) reported a Q3 net loss of ($12) thousand. Key highlights include: net deposit growth of $27.9 million (11.3% increase), with $52.2 million growth in core deposits offset by $24.3 million reduction in non-core deposits. Total assets reached $345 million, up 7.5% quarter-over-quarter. The bank saw loan growth of $2.3 million (1%), interest income increase of $478 thousand (11.6%), and net interest margin improvement of 13 basis points to 2.76%. Non-interest expense decreased by $174 thousand (6.9%) compared to Q1 2024.
Pacific West Bancorp (PWBK) announced its Q2 2024 financial results, showing a net loss of $230,000 or $0.09 per diluted share, an 8% improvement over Q1. Key highlights include:
- Total deposits increased by $8 million (3.3%) to $248 million
- Gross loans grew by $5 million (2.0%)
- Non-interest expense decreased by $135,000 (5.4%)
- Net loss before tax and provision improved by $94,000 (28.6%)
- Strong capital position with a Tier 1 leverage ratio of 11.02%
- Assets ended at $321 million
The bank's strategic initiatives led to improved cost controls, deposit growth, and a focus on non-interest-bearing deposits. New partnerships with Benepass and Interchange are expected to drive further deposit growth and enhance the digital division platform.
Pacific West Bancorp announces leadership promotions, including the transition of the CEO and the promotion of the President to CEO on June 1st, 2024. Terry Peterson retires as CEO, with Jason Wessling taking over. Lisa Fajardo-Faust and Sujana Regmi-Schuler also receive promotions within the company. The company emphasizes continuity and talent development in its leadership team.
