Private Bancorp of America, Inc Reports Continued Record Earnings forextv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forextv.com Daily Mail and Mail on Sunday newspapers.
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