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Professional Holding Corp. Reports First-Quarter Results


Professional Holding Corp. Reports First-Quarter Results
Quarterly Net Income of $4.8 Million as Assets Top $2.2 Billion
CORAL GABLES, FL / ACCESSWIRE / May 5, 2021 / Professional Holding Corp. (the Company ) (NASDAQ:PFHD), the parent company of Professional Bank (the Bank ), today reported net income of $4.8 million, or $0.34 per diluted share, for the first quarter of 2021 compared to net income of $5.5 million, or $0.38 per diluted share, for the fourth quarter of 2020, and a net loss of $1.3 million, or ($0.14) per diluted share, for the first quarter of 2020, respectively.
We are pleased to report another quarter of balance sheet expansion, said Daniel R. Sheehan, Chairman and Chief Executive Officer. Total loans increased 4.3% to $1.7 billion. The balance sheet performance combined with our share repurchase activity resulted in a tangible book value increase to $14.21 per share. We continue to benefit from a healthy pipeline of loan and deposit activities a ....

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Professional Holding Corp. Replenishes Stock Repurchase Plan: $10 Million Available


Professional Holding Corp. Replenishes Stock Repurchase Plan: $10 Million Available
CORAL GABLES,
FL / ACCESSWIRE / May 5, 2021 / The Board of Directors of Professional Holding Corp. (NASDAQ:PFHD) (the Company ) has authorized an increase in the amount available under its existing stock repurchase program, established March 2, 2020, such that, effective May 6, 2021, $10 million is available to repurchase outstanding shares of the Company s Class A Common Stock. The timing, price and volume of any stock buy-back will be based on market conditions, relevant securities laws, and other factors.
Repurchases of the Company s Class A Common Stock pursuant to the program may be made from time to time through solicited or unsolicited transactions in the open market, in privately negotiated transactions, block purchases, or pursuant to a Rule 10b5-1 plan. The program may be discontinued or amended at any time. ....

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