Private Bancorp of America, Inc. Reports Record Quarterly Financial Results Private Bancorp of America, Inc. La Jolla, California, UNITED STATES
First Quarter Highlights
First quarter net income was $4.6 million, or $0.81 per diluted share, up from $4.4 million or $0.78 per diluted share in the prior quarter, and up 141.6% from $1.9 million or $0.34 per diluted share from the same period in 2020
Net interest margin for the quarter was 3.89% compared with 4.74% in the prior quarter. The net interest margin excluding SBA PPP loans was 3.75% and 4.18% in the prior quarter
Total loans were $1.1 billion, up 8.3% for the quarter and 22% year over year
Funded $104.0 million in the second round of the SBA Paycheck Protection Program