Pan Pacific Bank (fka PPFC)

[Renee]

PPFC: Cash or stock merger; PPFC is being acquired by California Bank of Commerce (OTC: CABC); for every 1 share of PPFC held, shareholders have the right to receive either 1) $4.85 in cash or 2) 0.22635 freely tradeable shares of CABC

FINRA deleted symbol:

http://otce.finra.org/DLDeletions

[Enterprising Investor]

More to come. Everywhere.

[BigCat]

Another great deal in Northern Cali!!!

[yuanxi617]

congrats!

[BigCat]

Sweeeeet Deal!!! $4.75 a share!

[56Chevy]

I don't know if you're familiar with the 1991 movie 'City Slickers' starring Billy Crystal, Daniel Stern, Bruno Kirby and Jack Palance.

Jack Palance played the part of a tough old cowboy named Curly Washburn. He was a throwback from an era long gone by. One of the key themes in the movie was "there's nothing like bringing in the herd".

The Pan Pacific Bank commitment started for you in Oct. of 2011. The bank needed a lifeline and you threw them one. Here we are almost 4 years later and a win/win deal was struck with Calif Bank of Commerce.

There's nothing like bringing in the herd for the PPFC shareholders Mr. Taylor!

Well done, congratulations and thank you!

Chevy

[SSTChicago]

I'd like to thank any Pan Pacific Bank shareholders for their continued support and confidence. I know the Board and Management of PPFC are pleased with the transaction announced earlier today. The hard work of CEO Wayne Doiguchi and the entire team at Pan Pacific, our diverse and capable Board of Directors, and the support of our loyal shareholders, combined to deliver exceptional returns over the past three years. I strongly believe California Bank of Commerce will be an incredibly successful force in the California banking business in the years ahead. It'll be a privilege to be associated with them as an exciting evolution in financial services occurs in the years ahead.

[SSTChicago]

http://www.businesswire.com/news/home/20150918005854/en/California-Bank-Commerce-Pan-Pacific-Bank-Merge#.VfyoSkpHaK0

[56Chevy]

• Maintained a very favorable YTD and QTD Net Interest Margin of 4.15% and 4.11%, respectively.

There was a lot to like about this last report but I especially took notice of the continuing robust NIM.

Marker:
Pan Pacific Bank (fr (PPFC)
$2.78 0.0 (0.00%)
Volume: 0

[Enterprising Investor]

Pan Pacific BankAnnounces Financial Results for June
30, 2015, StrongGrowth with Improved Core Earnings (7/23/15)

FREMONT, Calif.--(BUSINESS WIRE)--Pan Pacific Bank (OTCBB:PPFC) today announced its unaudited financial results for the period ended June 30, 2015, including total assets of $147.1 million, net loans of $111.9 million and deposits of $124.7 million. Pre tax earnings for the three and six months ended June 30, 2015 were $206 thousand and $388 thousand, respectively, compared to $114 thousand and $191 thousand, respectively, for the same periods in 2014.

“We planned for continued growth in 2015 and are excited to see that strategy producing results,” said Wayne Doiguchi, Chief Executive Officer of Pan Pacific Bank, “Growing into our expanded infrastructure has been instrumental in achieving improved core earnings while maintaining excellent asset quality and strong capital levels. Our presence and relationship building in the San Jose market has combined with the continued success in Fremont and Alameda County to make this a promising year for the Bank.”

The following are Bank highlights for the Quarter ended June 30, 2015:

• Year over year total assets increased $36.8 million or 33.4% and $27.0 million or 22.5% from year end 2014.

• Year over year net loans increased $29.2 million or 34.6% and $25.2 million or 28.5% from year end 2014.

• Year over year total deposits increased $36.4 million or 41.3% and $25.2 million or 25.3% from year end 2014.

• Year-to-Date charge offs, net of (recoveries) were ($10.4) thousand, which represents (0.01%) of average loans.

• Year over year non-performing loans decreased from $415 thousand to $358 thousand. At June 30, 2015, non-performing loans were 0.32% as a percent of total gross loans and 0.24% as a percent of total assets.

• Regulatory capital ratios remain strong at 13.83%, 12.57%, 12.57% and 11.90% for Total Risked Based, Tier 1 Risk Based, Common Equity Tier I and Tier 1 Leverage, respectively.

• Pre tax earnings for the three months ended June 30, 2015 were $206 thousand compared to $114 thousand in the same period for 2014. For the six months ended June 30, 2015, pre-tax earnings were $388 thousand compared to $191 thousand in the same period for 2014. That’s an improvement of 80.7% and 103.1%, respectively, for the three and six months ended June 30, 2015 compared to the same periods in 2014.

• After tax earnings for the three months ended June 30, 2015 were $123 thousand compared to $2.9 million in the same period for 2014. For the six months ended June 30, 2015, after tax earnings were $228 thousand compared to $2.9 million in the same period for 2014. During the second quarter of 2014, Bank management determined that it was more likely than not that the deferred tax asset (DTA) would be realized. Therefore, the second quarter tax expense in 2014 included a benefit or income of $2,740,245 related to the reversal of the valuation allowance for deferred tax assets.

• Maintained a very favorable YTD and QTD Net Interest Margin of 4.15% and 4.11%, respectively.

Stockholders’ equity increased $236 thousand, or 1.3%, to $18.1 million at June 30, 2015 compared with $17.9 million at December 31, 2014. This increase was due to net earnings of $228 thousand, $57 thousand in stock option related items, minus $49 thousand net change in other comprehensive income. Tangible book value was $3.63 at June 30, 2015 and $3.58 at December 31, 2014.

About Pan Pacific Bank

Pan Pacific Bank is focused on meeting the banking needs of business and individuals in Alameda and Santa Clara counties, its primary service areas. The Bank was founded in 2005 and is headquartered at 47065 Warm Springs Blvd, Fremont, California. The Bank has one branch office in San Jose, California. The Bank is an SBA / USDA lender and offers a variety of banking products to include loans, deposits, remote capture, and other cash management services. For information concerning this press release, please contact Wayne Doiguchi, CEO or Margaret A. Torres, CFO at 510 809 8888.

Our web address is www.panpacificbank.com.

http://www.businesswire.com/news/home/20150723006520/en/Pan-Pacific-Bank-Announces-Financial-Results-June#.Vb-7UyHbKUk

[56Chevy]

Waiting on the Fed

Bankers prepare for rising rates but wonder when the Fed will pull the trigger

http://issuu.com/banking-exchange/docs/may_2015_banking_exchange

Marker:
Pan Pacific Bank (fr (PPFC)
$2.80 0.0 (0.00%)
Volume: 0

*Good read.

[BigCat]

$3.98 Hit

[BigCat]

You may be onto something.

[Enterprising Investor]

Ask has moved to $3.98.

A deal may not be far off.

[BigCat]

PPFC is charging forward today... $3.10 and $3.05 X $3.24 currently. 3,800 in volume.

[BigCat]

$2.80 Hit, $2.68 x $2.90 Now.

[BigCat]

Nice, thanks for posting EI!

[Enterprising Investor]

Pan Pacific Bank Announces 2014 as Year of Growth, Continued Profitability (2/05/15)

FREMONT, Calif.--(BUSINESS WIRE)--Pan Pacific Bank (OTCBB: PPFC) today announced its unaudited financial results for the year ended December 31, 2014, including total assets of $120.1 million, net loans of $86.7 million and deposits of $99.5 million. “Pan Pacific Bank is pleased to report a year of progress and profitability. Total assets, net loans and total deposits grew 9.3%, 13.7% and 9.3%, respectively, on a year over year basis,” said Wayne Doiguchi, Pan Pacific Bank’s CEO. “For the quarter ended December 31, 2014 and the same period in 2013, net after tax earnings were $63 thousand and $99 thousand, respectively. For the years ended 2014 and 2013, net after tax earnings were $3,049 thousand and $254 thousand, respectively. During 2014, Bank management determined that it is more likely than not that the deferred tax asset (DTA) will be realized. Therefore, the second quarter and fourth quarter tax expense includes a benefit or income of $2,740 thousand and $117 thousand, respectively related to the reversal of the valuation allowance for deferred tax assets.”

Doiguchi added: “The Bank has now been profitable for three consecutive years. We have had a very busy year and experienced notable growth while maintaining very strong asset quality and capital levels. Even with the significant increase we’ve experienced in loans, we continue to have a robust loan pipeline.” He went on to say, “We also had our first franchise expansion with the opening of our San Jose office in October 2014. We look forward to building our base of business in this dynamic market with the support of our new local Director Sally Pera and Chief Credit Officer Dick Hagarty. With this expansion we have also strengthened our management team by adding Genelle Wrzesinski as Operations Administrator. The Bank is poised to grow within the new infrastructure.”

The following are Bank highlights for the quarter ended December 31, 2014:

• Year-over-year Book Value increased from $2.94 to $3.58 per share.

• Year-over-year total assets increased $10.2 million or 9.3%.

• Year-over-year net loans increased $10.4 million or 13.7%.

• Year-over-year total deposits increased $8.5 million or 9.3%.

• For the twelve months ending December 31, 2014, recoveries, net of charge offs were $11.7 thousand.

• At December 31, 2014, non-performing loans were $384 thousand or 0.43% as a percent of total gross loans and 0.32% as a percent of total assets.

• Regulatory capital ratios remained strong at 17.15%, 15.89% and 12.67% for Total Risk Based, Tier 1 Risk Based and Tier 1 Leverage, respectively.

• Positive net earnings of $3,049 thousand or $0.61 per diluted share for the year ended December 31, 2014, compared to $254 thousand or $0.05 per diluted share for the same period in 2013.

• Year-over-year reduced the cost of interest bearing deposits and cost of funds by 7 basis points and 9 basis points, respectively.

• For the quarter and year ended December 31, 2014, maintained a very favorable Net Interest Margin of 3.94% and 3.99%, respectively.

Stockholders’ equity increased $3,369 thousand, or 23.3%, to $17.8 million at December 31, 2014, compared with $14.5 million at December 31, 2013. This increase was due to earnings of $3,049 thousand, $120 thousand in stock option related items, plus $200 thousand net change in other comprehensive income. Book value was $3.58 at December 31, 2014, and $2.94 at December 31, 2013.

About Pan Pacific Bank

Pan Pacific Bank is focused on meeting the banking needs of business and individuals in Alameda and Santa Clara counties, its primary service areas. The Bank was founded in 2005 and is headquartered at 47065 Warm Springs Blvd., Fremont, California. The Bank has one branch office in San Jose, California. The Bank is an SBA / USDA lender and offers a variety of banking products to include loans, deposits, remote capture, and other cash management services. For information concerning this press release, please contact Wayne Doiguchi, CEO, or Margaret A. Torres, CFO, at 510-809-8888.

Our web address is www.panpacificbank.com.

http://www.businesswire.com/news/home/20150205006144/en/Pan-Pacific-Bank-Announces-2014-Year-Growth#.VNPE0oktGUk

[BigCat]

PPFC Call Report: Earnings, $3.05 Million, 2014

[Enterprising Investor]

Genelle Wrzesinski Joins Pan Pacific Bank As SVP of Operations and Administration (1/29/15)

FREMONT, Calif.--(BUSINESS WIRE)--Pan Pacific Bank (OTCBB:PPFC) today announced that Genelle Wrzesinski, an executive with a 40-plus year track record of successful operational leadership, recently joined the Bank as Senior Vice President and Operations Administrator.

Pan Pacific Bank is a Bay Area business bank with locations in downtown San Jose and Fremont. Founded in 2005, the bank serves small and mid-sized businesses across the region and has recorded 11 consecutive quarters of profitability.

Pan Pacific Bank CEO Wayne Doiguchi said: “Genelle’s dedication to the East Bay banking community and years of experience in overseeing operations at a number of bank offices is vital to the exceptional service we provide our clients. Genelle is a proven leader, and her financial and community banking experience is an ideal fit as we continue to expand and meet long-range objectives for our bank and its customers. We are happy to have her as part of the executive team at Pan Pacific Bank.”

Throughout her career, Ms. Wrzesinski has served as Vice President and BSA Officer at Valley Community Bank, and also held management positions at Fremont Bank. She graduated from the University of Phoenix and resides in Castro Valley.

“I am a fourth-generation East Bay resident, and have a passion for seeing Bay Area businesses succeed,” said Ms. Wrzesinski. “Pan Pacific is on an upward trajectory of growth, and I look forward to leveraging my operational experience as we help our customers navigate both our local and global economy for years to come.”

About Pan Pacific Bank

Founded in 2005 with locations in downtown San Jose and Fremont, Pan Pacific Bank is a Bay Area business bank serving small and mid-sized businesses across the region. We provide an unparalleled banking experience delivered by a knowledgeable, accomplished executive team with deep local roots and extensive banking experience. We help our clients expertly navigate changing financial landscapes and market conditions.

Pan Pacific Bank is also an approved SBA/USDA lender. For more information, please visit: www.panpacificbank.com.

http://www.businesswire.com/news/home/20150129005091/en/Genelle-Wrzesinski-Joins-Pan-Pacific-Bank-SVP#.VMpnkYktGUk

[BigCat]

Happy New Year!!!

[BigCat]

Nice chunk of volume to the bid today.

2100 shares.

[BigCat]

Richard Hagarty Joins Pan Pacific Bank as EVP and Chief Credit Officer

http://www.businesswire.com/news/home/20141204005173/en/Richard-Hagarty-Joins-Pan-Pacific-Bank-EVP#.VIewTGK9KSM

[56Chevy]

You provide great reminders EI. Opening a new branch is easier said than done.

San Jose and the connecting communities that make up "Silicon Valley" are an area Pan Pacific cannot ignore. Per capita these communities make up some of the richest zip codes on the planet.

Silicon Valley claims 4 of 5 priciest U.S. housing markets

http://www.bizjournals.com/sanjose/news/2014/11/13/silicon-valley-claims-4-of-5-priciest-u-s-housing.html

[Enterprising Investor]

Expansion into San Jose is a wonderful thing long term.

However, starting a branch from scratch will have start-up costs that could impact the bottom line for PPFC in the short run. It will take some time for the branch to reach the critical mass needed to become a profit center on a stand-alone basis.

[Enterprising Investor]

Expansion into San Jose is a wonderful thing long term.

However, starting a branch from scratch will have start-up costs that could impact the bottom line for PPFC is in the short run. It will take some time for the branch to reach the critical mass to become a profit center on a stand-alone basis.

[56Chevy]

Oopps..here's a better hint joeysco;

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=82722661

[56Chevy]

Good eye joeysco. Superb news!

Pan Pacific Bank has experienced significant recent success; in October 2014, after reporting the previous quarter ending September 30, 2014, the bank announced eleven consecutive profitable quarters. Chief Executive Officer Wayne Doiguchi commented: "We are delighted to officially open the San Jose branch as part of our plans for strategic expansion in the Valley. With nearly one-third of our loan portfolio originating from San Jose, we look forward to using our physical presence there to further strengthen our strong bonds with the community and contribute to the economic strength of this legendary business environment."

Question - Notice any names you've seen before associated with this bank?

Here is a hint;

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73292536

==========

Marker:
Pan Pacific Bank (fr (PPFC)
$2.70 0.0 (0.00%)
Volume: 0

[BigCat]

Pan Pacific Bank Announces Expansion to San Jose

http://www.heraldonline.com/2014/11/12/6520957/pan-pacific-bank-announces-expansion.html?sp=/100/773/385/

[Enterprising Investor]

Pan Pacific Bank Announces Year-To-Date Growth in Net Loans 15.5% (10/22/14)

FREMONT, Calif.--(BUSINESS WIRE)--Pan Pacific Bank (OTCBB: PPFC) today announced its unaudited financial results for the quarter ended September 30, 2014, including total assets of $119.1 million, net loans of $88.1 million and deposits of $99.0 million. “Pan Pacific Bank is pleased to report continued positive earnings with net after-tax earnings for the three and nine months ending September 30, 2014, of $56,468 and $2,983,071, respectively,” said Wayne Doiguchi, Pan Pacific Bank’s CEO. “During the second quarter, Bank management determined that it is more likely than not that the deferred tax asset (DTA) will be realized. Therefore, the second quarter tax expense includes a benefit or income of $2,740,245 related to the reversal of the valuation allowance for deferred tax assets.”

Doiguchi added: “The Bank has now been profitable for 11 consecutive quarters with core pre-tax earnings of $56,468 and $247,026 for the three and nine months ended September 30, 2014, respectively. We are also very pleased to announce growth in net loans and deposits from year-end 2013 of 15.5% and 8.8%, respectively, while maintaining very strong asset quality and capital levels.”

The following are Bank highlights for the quarter ended September 30, 2014:

• Year-over-year Book Value increased from $2.93 to $3.55 per share.

• Year-over-year total assets increased $11.9 million or 11.1%.

• Year-over-year net loans increased $12.6 million or 16.7% and increased $11.8 million or 15.5% from year end.

• Year-over-year total deposits increased $6.6 million or 7.1% and increased $8.0 million or 8.8% from year end.

• For the nine months ending September 30, 2014, recoveries, net of charge offs were $6.9 thousand.

• At September 30, 2014, non-performing loans were $398 thousand or 0.44% as a percent of total gross loans and 0.33% as a percent of total assets.

• Regulatory capital ratios remained strong at 16.49%, 15.24% and 13.13% for Total Risked Based, Tier 1 Risk Based and Tier 1 Leverage, respectively.

• Positive net earnings of $56 thousand and $3.0 million or $0.011 and $.597 per diluted share for the three and nine months ended September 30, 2014, respectively, compared to $27 thousand and $154 thousand or $0.005 and $0.031 per diluted share for the same respective periods in 2013.

• Year-over-year, reduced the cost of interest bearing deposits and cost of funds by 20 basis points and 19 basis points, respectively.

• For the quarter ended September 30, 2014, maintained a very favorable Net Interest Margin of 3.99%.

Stockholders’ equity increased $3.2 million, or 22.2%, to $17.7 million at September 30, 2014, compared with $14.5 million at December 31, 2013. This increase was due to earnings of $2,983 thousand, $94 thousand in stock option related items, plus $138 thousand net change in other comprehensive income. Book value was $3.55 at September 30, 2014, and $2.94 at December 31, 2013.

About Pan Pacific Bank

Pan Pacific Bank is focused on meeting the banking needs of business and individuals in Alameda and Santa Clara counties, its primary service areas. The Bank was founded in 2005 and is headquartered at 47065 Warm Springs Blvd, Fremont, California. The Bank has one branch office in San Jose, California. The Bank is an SBA / USDA lender and offers a variety of banking products to include loans, deposits, remote capture, and other cash management services. For information concerning this press release, please contact Wayne Doiguchi, CEO or Margaret A. Torres, CFO at 510 809 8888.

Our web address is www.panpacificbank.com.

http://www.businesswire.com/news/home/20141022005186/en/Pan-Pacific-Bank-Announces-Year-To-Date-Growth-Net#.VEexDYl0yUk

[Enterprising Investor]

Pan Pacific Bank Names Sally Pera to Board of Directors (9/30/14)

FREMONT, Calif.--(BUSINESS WIRE)--Pan Pacific Bank (OTCBB:PPFC) today announced that renowned Silicon Valley business connector and executive Sally Pera has joined its Board of Directors. The appointment of Ms. Pera, currently CEO of the Association for Corporate Growth - Silicon Valley (ACGSV), brings the number of Pan Pacific board members to nine.

Pan Pacific CEO Wayne Doiguchi said: “Sally Pera has a storied history in the Valley, and her leadership experience and strategic vision, along with her proven track record of service on corporate boards, will play a vital role in our expansion into San Jose and beyond. We are delighted to welcome her to our diverse board and look forward to her contribution.”

“I have a deep familiarity with community banks in the Valley, and I am particularly impressed with Pan Pacific Bank’s differentiators and plans for expansion,” commented Pera. “I look forward to serving alongside the bank’s other distinguished board members and to helping them become further established with the Valley's unmatched mix of innovators and highly successful businesses.”

After serving on the board ACGSV for eight years, Ms. Pera was appointed CEO in 2010 and remains CEO today, helping chief executive officers and senior corporate executives form business relationships linking them to the future of Silicon Valley. Since 2012, she has served on the Advisory Board of patient medical information service company, PatientKey. Previously she was CEO and Founder of Direct Mail Marketing Company of North America dba Pocket Coupon Directory.

Ms. Pera holds a Bachelor of Arts Degree in Journalism and Political Science from Colorado College, Colorado Springs, and a Masters in Public Administration from the University of Colorado at Boulder. She attended the Stanford University Directors College.

About Pan Pacific Bank

Founded in 2005 with locations in Fremont and opening in October 2014, downtown San Jose, Pan Pacific Bank is a Bay Area business bank serving small and mid-sized businesses across the region. We provide an unparalleled banking experience delivered by a knowledgeable, accomplished executive team with deep local roots and extensive banking experience. We help our clients expertly navigate changing financial landscapes and market conditions.

Pan Pacific Bank is also an approved SBA/USDA lender. For more information, please visit www.panpacificbank.com

http://www.businesswire.com/news/home/20140930005255/en/Pan-Pacific-Bank-Names-Sally-Pera-Board#.VCv4yol0yUk

[56Chevy]

Currently Mr. Market has the bank priced at $2.60 and selling at a full 37% discount to TBV.

Oopps..I just noticed that my post in July was a typo...the actual P/B discount at that time was 27%...not 37%.

The good news is 2 months later the P/B remains attractive at a 25% discount for anyone building a stake on a healthy, growing and geographically well situated bank.

...can a merger be far off??

Marker:
Pan Pacific Bank (fr (PPFC)
$2.65 up 0.05 (1.92%)
Volume: 1,000

[56Chevy]

- Year-over-year Tangible Book Value increased from $2.94 to $3.56 per share.

Right On!...The PPFC story is getting quite interesting.

Currently Mr. Market has the bank priced at $2.60 and selling at a full 37% discount to TBV.

Highlights in the 1st Qtr are very positive...their NIM is over 4% ...they're adding a new branch office. Perhaps for the first time since the bank was formed in 2005 management and the BoD has a reason to be excited. All lights are green. Good for them ..it's been a long tough battle!

PPFC just moved up to the front burner... and the best news is it's On Sale!

Marker:
Pan Pacific Bank (fr (PPFC)
$2.60 up 0.1 (4.00%)
Volume: 8,100

[Enterprising Investor]

Pan Pacific Bank Announces Recapture of $2.7M Income Related to DTA, Plans for New Branch in San Jose, CA (7/14/14)

FREMONT, Calif., July 14, 2014 /PRNewswire/ -- Pan Pacific Bank (OTCBB: PPFC) today announced its unaudited financial results for the quarter ended June 30, 2014, including total assets of $110.3 million, net loans of $82.7 million and deposits of $88.3 million. "Pan Pacific Bank is pleased to report continued positive earnings with net after-tax earnings for the three and six months ending June 30, 2014, of $2,852,637 and $2,926,602, respectively," said Wayne Doiguchi, Pan Pacific Bank's CEO. "During the quarter, Bank management determined that it is more likely than not that the deferred tax asset (DTA) will be realized. Therefore, the second quarter tax expense includes a benefit or income of $2,740,245 related to the reversal of the valuation allowance for deferred tax assets."

Doiguchi added: "The Bank has now been profitable for 10 consecutive quarters with core pre-tax earnings of $114,492 and $190,557 for the three and six months ended June 30, 2014, respectively. We are also very pleased to announce continued growth in loans from year-end 2013 while maintaining very strong asset quality and capital levels."

Doiguchi also noted: "Our loan pipeline has been building and resulted in significant loan growth for the year. The decrease in deposits is driven primarily by balance sheet strategies to reduce interest expense associated with high-cost certificates of deposit."

"We are heading into our first franchise expansion with a de novo branch office in San Jose, California," said Doiguchi. "We have three seasoned Relationship Managers on board as well as a signed lease and regulatory approval in hand. We expect to be open for business at the new location late in the third quarter. With nearly one-third of our loan portfolio commitments originating from this area, we plan to use our physical presence to reach out to the community and be an active participant in its vibrant business climate."

Effective July 15, 2014, Mr. Richard "Dick" Hagarty will join the Bank as Chief Credit Officer, replacing Mr. Reilly Shaughnessy who resigned to return to the San Diego area. Mr. Hagarty, a well-known and respected banker, brings many years of experience as not only a Chief Credit Officer in the community bank space, but he also has a familiarity with Pan Pacific Bank's primary and secondary market areas. Said Doiguchi, "We look forward to Dick being an integral part of our growth strategies."

The following are Bank highlights for the quarter ended June 30, 2014:

- Year-over-year Tangible Book Value increased from $2.94 to $3.56 per share.

- Year-over-year total assets increased $4 million or 3.8%.

- Year-over-year net loans increased $3.6 million or 4.6% and increased $6.5 million or 8.5% from year end.

- Year-over-year total deposits decreased $3.2 million or 3.5% and decreased $2.7 million or 3% from year end.

- For the six months ending June 30, 2014, recoveries, net of charge offs were $6.5 thousand.

- At June 30, 2014, non-performing loans were $415 thousand or 0.49% as a percent of total gross loans and 0.38% as a percent of total assets.

- Regulatory capital ratios remained strong at 17.60%, 16.34% and 14.03% for Total Risked Based, Tier 1 Risk Based and Tier 1 Leverage, respectively.

- Positive net earnings of $2.9 million or $0.57 per diluted share for the three months ended June 30, 2014, compared to $39 thousand or $0.008 per diluted share for the same period in 2013.

- Year-over-year, reduced the cost of interest bearing deposits and cost of funds by 26 basis points and 22 basis points, respectively.

- For the quarter ended June 30, 2014, maintained a very favorable Net Interest Margin of 4.06%.

Stockholders' equity increased $3.1 million, or 21.7%, to $17.6 million at June 30, 2014, compared with $14.5 million at December 31, 2013. This increase was due to earnings of $2,927 thousand, $66 thousand in stock option related items, plus $155 thousand net change in other comprehensive income. Tangible book value was $3.56 at June 30, 2014, and $2.94 at December 31, 2013.

About Pan Pacific Bank
Pan Pacific Bank is focused on meeting the banking needs of business and individuals in Alameda and Santa Clara counties, its primary service areas. The Bank was founded in 2005 and is headquartered at 47065 Warm Springs Blvd, Fremont, California. The Bank is an SBA / USDA lender and offers a variety of banking products to include loans, deposits, remote capture, and other cash management services. For information concerning this press release, please contact Wayne Doiguchi, CEO or Margaret A. Torres, CFO at 510 809 8888.

Our web address is www.panpacificbank.com.

http://www.prnewswire.com/news-releases/pan-pacific-bank-announces-recapture-of-27m-income-related-to-dta-plans-for-new-branch-in-san-jose-ca-267009521.html

[Enterprising Investor]

Pan Pacific Bank Announces Results for March 31, 2014 (4/16/14)

FREMONT, Calif., April 16, 2014 /PRNewswire/ -- Pan Pacific Bank (OTCBB:PPFC) today announced its unaudited financial results for the quarter ended March 31, 2014, including total assets of $110.6 million, net loans of $79.4 million, and deposits of $91.5 million. Chief Executive Officer Wayne Doiguchi commented, "Pan Pacific Bank is pleased to report continued positive earnings with net after-tax earnings of $74 thousand for the three months ended March 31, 2014."

CEO Doiguchi added, "The Bank is very proud to announce continued positive earnings and growth in both loans and deposits from year end 2013 while maintaining very strong asset quality and capital levels. Also, as of the end of March 2014, the Bank is no longer subject to any informal regulatory agreements."

CEO Doiguchi went on to say, "We are really seeing traction in loan and deposit growth from all of our Relationship Managers. This current growth, coupled with a robust new business pipeline is very encouraging. "

The following are Bank highlights for the Quarter ended March 31, 2014:

•Year over year total assets increased $6.0 million or 5.8% and $673 thousand or 0.6% from year end 2013.

•Year over year net loans decreased $1.2 million or 1.6% but increased $3.2 million or 4.2% from year end 2013.

•Year over year total deposits increased $1.8 million or 2.0% and $503 thousand or 0.6% from year end 2013.

•Charge offs, net of recoveries were $1 thousand which represented less than 0.01% of average loans.

•Year over year non-performing loans decreased from $1.3 million to $432 thousand. At March 31, 2014, non-performing loans were 0.53% as a percent of total gross loans and 0.39% as a percent of total assets.

•Regulatory capital ratios remain strong at 18.21%, 16.95% and 13.44% for Total Risked Based, Tier 1 Risk Based and Tier 1 Leverage, respectively.

•Positive net earnings of $74 thousand or $0.015 per diluted share for the three months ended March 31, 2014 compared to $88 thousand or $0.018 per diluted share for the same period in 2013.

•Reduced the cost of interest bearing funds and cost of funds by 4 basis points and 6 basis points, respectively compared to Q4 2013.

•Maintained a very favorable Net Interest Margin of 3.97%.

Stockholders' equity increased $193 thousand, or 1.3%, to $14.7 million at March 31, 2014 compared with $14.5 million at December 31, 2013. This increase was due to earnings of $74 thousand, $21 thousand in stock option related items, plus $98 thousand net change in other comprehensive income. Tangible book value was $2.97 at March 31, 2014 and $2.94 at December 31, 2013.

Pan Pacific Bank

Pan Pacific Bank is focused on meeting the banking needs of business and individuals in Alameda and Santa Clara counties that are its primary service areas. The Bank was founded July 2005 and is located at 47065 Warm Springs Blvd, Fremont, California. The bank is an SBA / USDA lender and offers a variety of banking products to include loans, deposits, remote capture, and other cash management services. For information concerning this press release please contact Wayne Doiguchi, CEO or Margaret A. Torres, CFO at 510 809 8888.

Our web address is www.panpacificbank.com.

http://www.prnewswire.com/news-releases/pan-pacific-bank-announces-results-for-march-31-2014-255477101.html

[Enterprising Investor]

Pan Pacific Bank Announces Eight Consecutive Profitable Quarters (2/11/14)

FREMONT, Calif., Feb. 11, 2014 /PRNewswire/ -- Pan Pacific Bank (OTCBB: PPFC) today announced its unaudited financial results for the quarter and year ended December 31, 2013, including total assets of $109.9 million, loans of $77.9 million, and deposits of $91.0 million. Chief Executive Officer Wayne Doiguchi commented, "Pan Pacific Bank is pleased to report net after-tax earnings of $99 thousand and $254 thousand for the three and twelve months ended December 31, 2013, respectively. The results for the quarter ended December 31, 2013 marks eight consecutive profitable quarters."

CEO Doiguchi added, "Everyone at the Bank has worked tirelessly this year to improve asset quality, lower the cost of funding liabilities, maintain valuable customer relationships and achieve positive earnings. With ample capital, a strong balance sheet, a formidable management team and renewed enthusiasm, the Bank is poised for growth."

The following are Bank highlights for 2013:

•Completed the formation of the new Executive Management Team with experienced and qualified officers

•Finalized a re-branding project that included a comprehensive re-engineering to the Bank's website

•Improved already strong capital ratios with positive earnings and changes to risk based assets

•Reduced non-performing assets by $1.3 million or 74.9% to $450 thousand

•Maintained low loan losses; charged off loans, net of recoveries, of $113 thousand in 2013 or 0.14% as a percent of average loans

•For Q4 2013, reduced the cost of interest bearing funds by 32bp compared to Q4 2012

•For Q4 2013, improved the Net Interest Margin (NIM) by 28bp compared to Q4 2012

Net after-tax income for the three months ended December 31, 2013 was $99 thousand or $.020 per diluted share compared with net after-tax income of $331 thousand, or $.068 per diluted share for the same period in 2012. The primary reason for the $232 variance is a decrease of $406 thousand in non-interest income that in 2012 was driven by a gain of $417 thousand on sale of government guaranteed loans. Net after-tax income for the twelve months ended December 31, 2013, was $254 thousand or $.052 per diluted share compared with net after-tax income of $923 thousand, or $.203 per diluted share for the same period in 2012. For the twelve month period, the primary reason for the decrease in net after-tax income on a year over year basis was the absence in 2013 of any gain on sale of loans, net of incentive associated with the loan sales which amounted to approximately $901 thousand in 2012.

Total assets decreased $3.4 million, or 3.0%, to $109.9 million at December 31, 2013 compared with $113.3 million at December 31, 2012. On a linked quarter basis, total assets increased by $2.7 million or 2.5%. Total deposits, which are a significant driver of asset size, decreased $7.3 million, or 7.4%, to $91.0 million at December 31, 2013, compared with $98.3million at December 31, 2012. From year end 2012 to March 31, 2013, deposits declined to $89.7 million driven by disintermediation of funds into non-bank markets. Since March 31, 2013 through December 31, 2013, total deposits increased $1.3 million. During that same nine month period of time, non-interest bearing demand increased $4.4 million while interest bearing deposits decreased by $3.0 million. This decrease in interest bearing deposits, primarily due to reducing rates paid, contributed to a more favorable net interest margin.

Gross loans decreased $4.4 million, or 5.3%, to $77.9 million at December 31, 2013, compared with $82.3 million at December 31, 2012. The year over year decrease in gross loans was due primarily to normal principal payment reductions in the portfolio along with the reduction in non-performing loans. New loan origination and loan payoffs offset one another in the amount of approximately $16 million. Loan payoffs were impacted by borrowers reducing debt as the result of property sales and other injections of cash flow and to a lesser extent, reduced relationship balances caused by rate sensitivity. On a linked quarter basis, gross loans increased by $0.7 million or 0.9%.

Stockholders' equity increased $193 thousand, or 1.4%, to $14.5 million at December 31, 2013 compared with $14.3 million at December 31, 2012. This increase was due to earnings of $254 thousand, $58 thousand in stock option related items, less $119 thousand net change in other comprehensive income. Tangible book value was $2.94 at December 31, 2013 and $2.92 at December 31, 2012.

Pan Pacific Bank

Pan Pacific Bank is focused on meeting the banking needs of business and individuals in Alameda and Santa Clara counties that are its primary service areas. The Bank was founded July 2005 and is located at 47065 Warm Springs Blvd, Fremont, California. The bank is an SBA / USDA lender and offers a variety of banking products to include loans, deposits, remote capture, and other cash management services. For information concerning this press release please contact Wayne Doiguchi, CEO or Margaret A. Torres, CFO at 510 809 8888.
Our web address is www.panpacificbank.com.

http://www.prnewswire.com/news-releases/pan-pacific-bank-announces-eight-consecutive-profitable-quarters-244881391.html

[Enterprising Investor]

Pan Pacific Bank Announces Seven Consecutive Profitable Quarters (10/22/13)

FREMONT, Calif., Oct. 22, 2013 /PRNewswire/ -- Pan Pacific Bank (OTCBB:PPFC) today announced its unaudited financial results for the quarter ended September 30, 2013, including total assets of $107.2 million, loans of $77.2 million, and deposits of $92.4 million. Chief Executive Officer Wayne Doiguchi commented, "Pan Pacific Bank is pleased to report net after-tax earnings of $27 thousand and $154 thousand for the three and nine months ended September 30, 2013, respectively. The results for the quarter ended September 30, 2013 marks seven consecutive profitable quarters."

CEO Doiguchi added, "The bank has enjoyed significant improvement in its overall asset quality and experienced a 35% reduction in total non-performing loans on a year over year basis. In addition, our charged off loans net of recoveries is less than $18 thousand year to date or 0.02% of average loans."

Net after-tax income for the three months ended September 30, 2013 was $27 thousand or $.005 per diluted share compared with net after-tax income of $169 thousand, or $.035 per diluted share for the same period in 2012. The primary reason for this $142 variance is a decrease in interest income of $164 thousand, a decrease of $49 thousand in non-interest income offset by a decrease in non-interest expense of $71 thousand. Net after-tax income for the nine months ended September 30, 2013, was $154 thousand or $.031 per diluted share compared with net after-tax income of $592 thousand, or $.133 per diluted share for the same period in 2012. For the nine month period, the primary reason for the decrease in net after-tax income on a year over year basis was the absence in 2013 of any gain on sale of loans which amounted to approximately $727.5 thousand in 2012. Offsetting that lack of income in the first nine months of 2013, overall expense was down by approximately $507 thousand compared to the same period in 2012. Included in the decrease was $154 thousand in interest expense, $128 thousand in provision for loan loss, and $225 thousand in employment expense related to incentives on loan sales.

Total assets decreased $6.9 million, or 6.1%, to $107.2 million at September 30, 2013 compared with $114.1 million at September 30, 2012. On a linked quarter basis, total assets increased by $919 thousand or .86%. Gross loans decreased $16.2 million, or 17.3%, to $77.2 million at September 30, 2013, compared with $93.4 million at September 30, 2012. The decrease was due to normal principal reductions, borrowers reducing debt as the result of property sales and other injections of cash flow and to a lesser extent, reduced relationship balances caused by rate sensitivity. Total deposits decreased $7.2 million, or 7.3%, to $92.4 million at September 30, 2013, compared with $99.6 million at September 30, 2012. On a linked quarter basis at September 30, 2013, total deposits increased by $890 thousand from June 30, 2013. In addition, at September 30, 2013, total deposits increased $2.7 million from March 31, 2013.

Stockholders' equity increased $483 thousand, or 3.5%, to $14.4 million at September 30, 2013 compared with $13.9 million at September 30, 2012. This increase was due to earnings for the last three months of 2012 of $331 thousand, earnings for the first nine months of 2013 of $154 thousand, $61 thousand in stock option related items, less $63 thousand net change in other comprehensive income. Tangible book value was $2.93 at September 30, 2013 and $2.85 at September 30, 2012.

CEO Doiguchi also announced, "On September 1, 2013, Natalie Taaffe, Relationship Manager/Construction Lending, joined the team and will be working along side Relationship Manager Bill Walters in the Bank's market area of Santa Clara and San Mateo counties." CEO Doiguchi went on to say "With a strong balance sheet including ample capital, the Bank is poised for growth. Both Mr. Walters and Ms. Taaffe are highly respected and well known in the South Bay and we anticipate a robust response to their presence."

Pan Pacific Bank

Pan Pacific Bank is focused on meeting the banking needs of business and individuals in Alameda and Santa Clara counties that are its primary service areas. The Bank was founded July 2005 and is located at 47065 Warm Springs Blvd, Fremont, California. The bank is an SBA / USDA lender and offers a variety of banking products to include loans, deposits, remote capture, and other cash management services. For information concerning this press release please contact Wayne Doiguchi, CEO or Margaret A. Torres, CFO at 510 809 8888.
Our web address is www.panpacificbank.com.

http://www.prnewswire.com/news-releases/pan-pacific-bank-announces-seven-consecutive-profitable-quarters-228765121.html

[Enterprising Investor]

Pan Pacific Bank Announces Six Consecutive Profitable Quarters (8/14/13)

FREMONT, Calif., Aug. 14, 2013 /PRNewswire/ -- Pan Pacific Bank (OTCBB:PPFC) today announced its unaudited financial results for the quarter ended June 30, 2013, including total assets of $106.3 million, loans of $80.6 million, and deposits of $91.5 million. Chief Executive Officer Wayne Doiguchi commented, "Pan Pacific Bank is pleased to report net after-tax earnings of $39 thousand and $127 thousand for the three and six months ended June 30, 2013, respectively. The results for the quarter ended June 30, 2013 marks six consecutive profitable quarters."

CEO Wayne Doiguchi added, "The bank has enjoyed significant improvement in its overall asset quality and experienced a 34% reduction in total non-performing loans on a year over year basis."

Net after-tax income for the three months ended June 30, 2013, was $39 thousand or $.008 per diluted share compared with net after-tax income of $75 thousand, or $.017 per diluted share for the same period in 2012. The primary reason for this $36 variance is a decrease in interest income of $57 thousand offset by increases in non-interest income. Net after-tax income for the six months ended June 30, 2013, was $127 thousand or $.026 per diluted share compared with net after-tax income of $423 thousand, or $.10 per diluted share for the same period in 2012. For the six month period, the primary reason for the decrease in net after-tax income on a year over year basis was the absence in 2013 of any gain on sale of loans which amounted to approximately $659 thousand in 2012. Offsetting that lack of income in the first six months of 2013, overall expense was down by approximately $519 thousand compared to the same period in 2012. Included in the decrease was $110 thousand in interest expense, $128 thousand in provision for loan loss, and $190 thousand in employment expense related to incentives on loan sales.

Total assets decreased $10.9 million, or 9.3%, to $106.3 million at June 30, 2013 compared with $117.2 million at June 30, 2012. On a linked quarter basis, total assets increased by $1.8 million or 1.7%. Gross loans decreased $8.5 million, or 9.6%, to $80.6 million at June 30, 2013, compared with $89.2 million at June 30, 2012. The decrease was due to normal principal reductions, borrowers reducing debt as the result of property sales and other injections of cash flow and to a lesser extent, reduced relationship balances caused by rate sensitivity. Total deposits decreased $12.4 million, or 12.0%, to $91.5 million at June 30, 2013, compared with $103.9 million at June 30, 2012. On a linked quarter basis, total deposits increased by $1.8 million and have stabilized during the first six months of 2013. On a linked quarter basis, demand deposits increased $2.6 million while interest bearing deposits decreased by $803 thousand. The Bank has experienced some disintermediation of interest bearing deposits due to the renewed confidence in outside investment opportunities.

Stockholders' equity increased $1.6 million, or 12.9%, to $14.4 million at June 30, 2013 compared with $12.8 million at June 30, 2012. This increase was due to the additional capital raise (rights offering) in July 2012 of $1.0 million, earnings for the last six months of 2012 of $500 thousand and the $127 thousand in earnings for the first six months of 2013. Tangible book value was $2.94 at June 30, 2013 and $2.97 at June 30, 2012.

Pan Pacific Bank

Pan Pacific Bank is focused on meeting the banking needs of business and individuals in Alameda and Santa Clara counties that are its primary service areas. The Bank was founded July 2005 and is located at 47065 Warm Springs Blvd, Fremont, California. The bank is an SBA / USDA lender and offers a variety of banking products to include loans, deposits, remote capture, and other cash management services. For information concerning this press release please contact Wayne Doiguchi, CEO or Margaret A. Torres, CFO at 510 809 8888.

Our web address is www.panpacificbank.com.

Forward-Looking Statements

This release may contain forward-looking statements, such as, among others, statements about plans, expectations and goals concerning growth and improvement. Forward-looking statements are subject to risks and uncertainties. Such risks and uncertainties may include, but are not necessarily limited to fluctuations in interest rates, inflation, government regulations and general economic conditions, including the real estate market in our primary service area and more generally in California and other factors beyond the Bank's control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. Readers should not place undue reliance on the forward-looking statements, which reflect management's view only as of the date hereof. Pan Pacific Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

For information concerning this press release,
please contact Wayne Doiguchi, CEO or
Margaret A. Torres, CFO at 510-809-8888.

http://www.prnewswire.com/news-releases/pan-pacific-bank-announces-six-consecutive-profitable-quarters-219618631.html

[Enterprising Investor]

Pan Pacific Bank Announces Five Consecutive Profitable Quarters (5/23/13)

FREMONT, Calif., May 23, 2013 /PRNewswire/ -- Pan Pacific Bank (OTCBB:PPFC) today announced its unaudited financial results at and for the quarter ended March 31, 2013, including Net income for the quarter of $88,392, total assets of $104.5 million, loans of $82.4 million, and deposits of $89.7 million. Chief Executive Officer Wayne Doiguchi commented, "Pan Pacific Bank is pleased to report another profitable quarter for the first quarter of 2013. This marks five consecutive profitable quarters."

CEO Wayne Doiguchi added, "The bank has enjoyed significant improvement in its overall asset quality and experienced only 2 basis points in Net Charge Offs during the first quarter of 2013."

Net income for the three months ended March 31, 2013, was $88,392 or $.018 per diluted share compared with net income of $348,312, or $.084 per diluted share for the three months ended March 31, 2012. The primary reason for the decrease in net income on a year over year basis was the absence in 2013 of any gain on sale of loans which amounted to $658,578 in 2012. Offsetting that lack of income in the first quarter of 2013, overall expense was down by approximately $415,000 compared to the same period in 2012. Included in the decrease was $53,566 in interest expense, $127,550 in provision for loan loss, $34,470 in regulatory expense and $264,052 in salary and related nearly all of which is associated with the sale of loans.

Total assets decreased $11.0 million, or 9.5%, to $104.5 million at March 31, 2013 compared with $115.5 million at March 31, 2012. Net loans decreased $5.8 million, or 6.7%, to $80.7 million at March 31, 2013, compared with $86.5 million at March 31, 2012. The decrease was due to normal principal reductions, and reduced relationship balances caused by rate sensitivity. Total deposits decreased $12.6 million, or 12.3%, to $89.7 million at March 31, 2013, compared with $102.3 million at March 31, 2012. Money Market and time deposit accounts decreased by approximately $6.3 million and $3.7 million, respectively, from March 31, 2012 compared to the same period in 2013. The Bank has experienced some disintermediation of interest bearing deposits due to the renewed confidence in outside investment opportunities.

Stockholders' equity increased $1.7 million, or 13.4%, to $14.4 million at March 31, 2013 compared with $12.7 million at Mach 31, 2012. This increase was due primarily to the additional capital raise (rights offering) of $1.0 million and earnings for 2012 of $922,527. Tangible book value was $2.94 at March 31, 2013 and $2.95 at March 31, 2012.

CEO Wayne Doiguchi also announced the retirement of CFO Dale McKinney. "The Board and I thank Mr. McKinney for his contributions to the Bank." Mr. Doiguchi added "I am happy to announce that Margaret Torres has joined the Bank as Executive Vice President and Chief Financial Officer. Margaret has had a distinguished banking career, most notably with Heritage Oaks Bank where she was part of the management team that took the bank from approximately $135 million to $1billion in asset size. That expertise is very important in Pan Pacific Bank's strategic growth plan."

Pan Pacific Bank

Pan Pacific Bank is focused on meeting the banking needs of business and individuals in Alameda and Santa Clara counties that are its primary service areas. The Bank was founded July 2005 and is located at 47065 Warm Springs Blvd, Fremont, California. The bank is an SBA / USDA lender and offers a variety of banking products to include loans, deposits, remote capture, and other cash management services. For information concerning this press release please contact Wayne Doiguchi, CEO or Margaret A. Torres, CFO at 510 809 8888.

Our web address is www.panpacificbank.com.

Forward-Looking Statements

This release may contain forward-looking statements, such as, among others, statements about plans, expectations and goals concerning growth and improvement. Forward-looking statements are subject to risks and uncertainties. Such risks and uncertainties may include, but are not necessarily limited to fluctuations in interest rates, inflation, government regulations and general economic conditions, including the real estate market in our primary service area and more generally in California and other factors beyond the Bank's control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. Readers should not place undue reliance on the forward-looking statements, which reflect management's view only as of the date hereof. Pan Pacific Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

For information concerning this press release,
please contact Wayne Doiguchi, CEO or
Margaret A. Torres, CFO at 510 809 8888

http://www.prnewswire.com/news-releases/pan-pacific-bank-announces-five-consecutive-profitable-quarters-208642231.html

[56Chevy]

PPS as of 3/1/2013 was $2

[56Chevy]

....2,517,500 shares of common stock were offered to accredited investors for aggregate gross proceeds of $5,035,000 before expenses. Shares were offered to certain accredited investors and institutions for $2.00 per share.

Nearly one year later since the private placement, shares are trading in the same + or - $2 range, however this bank has just completed it's 4th consecutive profittable qtr since that placement and deserves a much closer look. Getting in at the same price as an accredited investor is an excellent situation to have for retail investors...that opportunity still exists and the bank has only gotten stronger.

[Enterprising Investor]

PPFC Announces Four Consecutive Profitable Quarters (1/17/13)

FREMONT, Calif., Jan. 17, 2013 /PRNewswire/ -- Pan Pacific Bank (OTCBB:PPFC) announced unaudited financial results for the quarter ended December 31, 2012. Total assets of $113.3 million, loans of $82.3 million, and deposits of $98.3 million, at December 31, 2012. Chief Executive Officer Wayne Doiguchi commented, "Pan Pacific Bank is pleased to report $330,468 in profits for the fourth quarter of 2012, bringing our total 2012 year profits to $922,527. This is four consecutive profitable quarters."

CEO Wayne Doiguchi added, "The bank has enjoyed significant improvement in its overall asset quality and experienced only 10 basis points in Net Charge Offs during the 2012 year. Our strong 2012 earnings were in part due to the sale of $14.5 million in Government Guaranteed Loans at a premium. Had the bank retained these loans, our year end loan balances would have been $96.8 million or a 12.8% growth over year end 2011."

Net income for the twelve months ended December 31, 2012, was $922,527 or $.203 per diluted share compared with a net loss of $(1,262,976), or $(.605) per diluted share for the twelve months ended December 31, 2011. Net income for the quarter ended December 31, 2012, was $330,468 or $.068 per diluted share compared with a net loss of $(543,748), or $(.153) per diluted share, for the quarter ended December 31, 2011. Net income improved in the twelve months of 2012 primarily due to an increase in net interest income of $895,337, an increase in non-interest income of $1,207,712 driven by a $1,175,914 gain on sale of loans, offset by an increase in non-interest expense of $621,661 and a decrease in the provision for loan loss of $709,117, compared with the twelve months of 2011.

Total assets increased $1.0 million, or 0.9%, to $113.3 million at December 31, 2012 compared with $112.3 million at December 31, 2011. Net loans decreased $3.5 million, or -4.2%, to $80.5 million at December 31, 2012, compared with $84.1 million at December 31, 2011. Total deposits decreased $1.5 million, or -1.5%, to $98.3 million at December 31, 2012, compared with $99.9 million at December 31, 2011.

Stockholders' equity increased $2.3 million, or 19.1%, to $14.3 million at December 31, 2012 compared with $12.0 million at December 31, 2011. This increase was due primarily to the recent successful capital raise and rights offering of $1.3 million and earnings for 2012 of $922,527. Tangible book value remained at $2.92 for period ending December 31, 2012 and 2011.

Pan Pacific Bank

Pan Pacific Bank is focused on meeting the banking needs of business and individuals in Alameda and Santa Clara counties, that are its primary service areas. The Bank was founded July 2005 and is located at 47065 Warm Springs Blvd, Fremont, California. The bank is an SBA / USDA lender and offers a variety of banking products to include loans, deposits, remote capture, and other cash management services. For information concerning this press release please contact Wayne Doiguchi CEO or Dale McKinney CFO at 510 809 8888.
Our web address is www.panpacificbank.com

http://www.prnewswire.com/news-releases/pan-pacific-bank-announces-four-consecutive-profitable-quarters-187262691.html

[Enterprising Investor]

How a Small California Bank Attracted the Capital to Fight Another Day (12/20/12)

Sierra Vista Bank (SVBA) fits the profile of a bank seller. It is fighting the temptation — at least for now.

The Folsom, Calif., bank has assets of just $78 million and had reached a crossroads, but its leaders decided to seek more capital instead of packing it in, Chief Executive Gregory Patton says. "Our board considered everything. Should we sell? Should we look locally for a merger-of-equals partner?"

The economy and new regulatory demands are making it tougher for banks of Sierra Vista's size to survive, and many will look to sell out, experts say. Patton concurs and says Sierra Vista, which has had good luck raising funds, may still look to sell at some point — he just wants his bank to make that decision from a position of strength.

"There are going to be changes, and there is going to be consolidation. There are reasons for banks to talk to each other," Patton says. "We are going to have to make some decisions, but we want those to be opportunistic."

Those decisions could include Sierra Vista even being a buyer, Patton says.

The bank is poised to receive $1.7 million from Taylor International Fund, a Chicago hedge fund. The equity agreement, scheduled to close in the second quarter, was priced at $2 per share, or 66% of its book value. Sierra Vista also raised more than $2 million in a public offering at the same terms in September.

The new funds could fuel growth and make the bank a more attractive M&A target someday.

Sierra Vista's strategy essentially gives it more room to figure out what it wants to do, says Adam Fiedor, a principal at St. Charles Capital in Denver. More small banks, particularly those that still have some credit issues, may explore the same strategy. Even though the capital is raised at a discount to book, it gives the shareholders a better chance at an eventual sale for a premium.

"Without the capital, the bank is perhaps forced to sell at a low valuation. This gives the existing shareholders a second life," says Fiedor, who is not involved with Sierra Vista. "It allows them time to work out nonperforming assets, improve profitability and perhaps grow. It creates a runway to get them to a premium book value."

The new capital would give the bank enough room to double its balance sheet and would allow it to raise its lending limits. Demand is increasing, too, Patton says.

"This gets our capital to a point where we can be part of the conversation," Patton says. "We think the sun is about to come back out. The economy is stabilizing, things are coming up a bit, and companies are maybe looking at new markets and new employees."

The new capital could help clean up legacy issues.

The bank was chartered in March 2007. Banks that were chartered around the downturn have taken divergent rides; some have found a golden opportunity to flourish as seasoned banks ached. Other de novos have sputtered. Sierra Vista managed to find trouble.

"We opened in March and we had $15 million in capital and management wanted to get some of that rolling, so they did participations," says Patton, who joined in December 2007. "Those values changed drastically. …We also lost some money in some commercial deals that were tied to the construction."

Its problems even included the building that houses the bank's headquarters in a commercial strip center. The property is now part of the bank's $2 million in other real estate owned.

"We pay ourselves our own rent," Patton says.

Sierra Vista reported losses of $524,000 through Sept. 30, partly because of writedowns to prepare for the capital raises. It made $159,000 last year.

The bank had $2.2 million of nonperforming loans at the end of the third quarter. Despite the initial wave of problems that the company has been sorting out for the last few years, it had no new problem loans in the pipeline.

Three years ago the board raised roughly $2 million to deal with the problems. The bank also has a memorandum of understanding with the regulators.

Curing the regulatory issues could have been the motivating factor for raising the additional equity, says Kamal Mustafa, the chairman and chief executive of Invictus Consulting Group, who was unfamiliar with Sierra Vista.

"I don't think any bank wants to sell under an enforcement action," Mustafa says. "That's where the vultures circle."

Though Sierra Vista's strategy could gain popularity, the tough part is finding the investors, Fiedor says.

Stephen Taylor, the chairman of Taylor International, says Sierra Vista attracted him because he sees an opportunity to gain market share as other banks consolidate. He describes his firm as one that targets opportunities that others might look over. Small community banks are one of those, because larger investors say small equity deals take as much work as large ones.

"It is flip to say, but nobody from New York is going to fly to California for a $4 million deal," Taylor says. He has a similar investment 100 miles away in the $114 million-asset Pan Pacific Bank in Fremont. (Combining the two was not a motivation for the infusions, he says.)

"The obituary for small and mid-sized banks has been written prematurely. Sure, there are sound economic reasons for economies of scale, but I think it is premature," Taylor says. "Both of these banks could be attractive targets, but I think they also could have a healthy future independently, if they wanted."

http://www.americanbanker.com/issues/177_243/how-small-california-bank-attracted-capital-to-fight-another-day-1055326-1.html?zkPrintable=1&nopagination=1

[vpagano]

Still under the $2 capital raise price right? I'm intrigued and buying a basket of these tiny regional banks has already paid off, always room for one more maybe!

[56Chevy]

HOW HEALTHY IS THIS BANK?

http://banktracker.investigativereportingworkshop.org/banks/california/fremont/pan-pacific-bank/

* Pan Pacific Bank did not take TARP money.

[56Chevy]

PPS as of 12/3/2012 $1.95

[Enterprising Investor]

PPFC Announces Three Consecutive Profitable Quarters (10/18/12)

FREMONT, Calif., Oct. 18, 2012 /PRNewswire/ -- Pan Pacific Bank (OTCBB:PPFC) announced unaudited financial results for the quarter ended September 30, 2012. Total assets of $114.1 million, gross loans of $93.6 million, and deposits of $99.6 million, at September 30, 2012. Chief Executive Officer Wayne Doiguchi commented, "Pan Pacific Bank is pleased to report $169 thousand in profits for the third quarter of 2012, bringing our total year to date 2012 profits to $592 thousand. This is three consecutive profitable quarters."

Net income for the nine months ending September 30, 2012, was $592 thousand or $.133 per diluted share compared with a net loss of $(719) thousand, or $(.451) per diluted share for the nine months ended September 30, 2011. Net income for the quarter ended September 30, 2012, was $169 thousand or $.035 per diluted share compared with a net loss of $(303) thousand, or $(.191) per diluted share, for the quarter ended September 30, 2011. Net income improved in the first nine months of 2012 primarily due to an increase in net interest income of $750 thousand, an increase in non-interest income of $747 thousand driven by a $750 thousand gain on sale of loans, offset by an increase in non-interest expense of $512 thousand and a decrease in the provision for loan loss of $326 thousand, compared with the first nine months of 2011.

Total assets increased $8.7 million, or 8.3%, to $114.1 million at September 30, 2012 compared with $105.4 million at September 30, 2011. Net loans increased $18.7 million, or 25.6%, to $91.6 million at September 30, 2012, compared with $72.9 million at September 30, 2011. Total deposits increased $2.5 million, or 2.6%, to $99.6 million at September 30, 2012, compared with $97.1 million at September 30, 2011. Total non-performing loans and loans over 90 days past due as a percentage of capital and reserves (Texas Ratio) declined from 23.4% as of September 30, 2011 to 9.1% as of September 30, 2012.

Stockholders' equity increased $6.0 million, or 76.1%, to $13.9 million at September 30, 2012 compared with $7.9 million at September 30, 2011. This increase was due primarily to the recent successful capital raise of $5.9 million.

Mr. Doiguchi added "The Bank is sad to announce the sudden passing of Joe Ching, President of Pan Pacific Bank. We will all miss his positive spirit and the significant contributions he made toward the success of Pan Pacific Bank. His influence and relationships will continue to endure in the years ahead. Joe was a long time banker who cultivated business and professional relationships that significantly impacted our community."

Pan Pacific Bank

Pan Pacific Bank is focused on meeting the banking needs of business and individuals in Alameda and Santa Clara counties, that are its primary service areas. The Bank was founded July 2005 and is located at 47065 Warm Springs Blvd, Fremont California. The bank is a SBA / USDA lender and offers a variety of banking products to include loans, deposits, remote capture, and other cash management services. For information concerning this press release please contact Wayne Doiguchi CEO or Dale McKinney CFO at 510 809 8888.

Our web address is www.panpacificbank.com.

Forward-Looking Statements

This release may contain forward-looking statements, such as, among others, statements about plans, expectations and goals concerning growth and improvement. Forward-looking statements are subject to risks and uncertainties. Such risks and uncertainties may include, but are not necessarily limited to fluctuations in interest rates, inflation, government regulations and general economic conditions, including the real estate market in our primary service area and more generally in California and other factors beyond the Bank's control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. Readers should not place undue reliance on the forward-looking statements, which reflect management's view only as of the date hereof. Pan Pacific Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

For information concerning this press release,
please contact Wayne Doiguchi CEO or
Dale McKinney CFO at 510 809 8888.

http://www.prnewswire.com/news-releases/pan-pacific-bank-announces-three-consecutive-profitable-quarters-174741441.html

[56Chevy]

PPS as of 10/3/2012 $1.925

[56Chevy]

Thanx for this 2Qrt update EI. I'm sure the financial improvements brought smiles all around for management...but the removal of the consent order just put a cherry on the top of this report! Way to go Pan Pacific!

The Bank also announced that regulatory agencies have removed the consent order put in place in April 2010. The order was replaced with a memorandum of understanding. This informal agreement is less restrictive and primarily calls for the leverage capital ratio to be at least 10%, the total risk based capital ratio be at least 12%, and continued reduction of adversely classified assets.

"These accomplishments are the result of very hard work by our employees and furthers our efforts to build franchise value for our shareholders," stated Chief Executive Officer, Wayne Doiguchi.

[Enterprising Investor]

PPFC Announces Second Quarter Profits (7/19/12)

FREMONT, Calif., July 19, 2012 /PRNewswire/ -- Pan Pacific Bank (PPFC.OB) announced unaudited financial results for the quarter ended June 30, 2012. Total assets of $117.2, loans of $89.4, and deposits of $103.9 million, at June 30, 2012, each represent record levels for the Bank. Chief Executive Officer Wayne Doiguchi commented, "Pan Pacific Bank is pleased to report $75 thousand in profits for the second quarter of 2012, bringing our total year to date 2012 profits to $423 thousand."

Subsequent to the second quarter, on July 9, 2012, the bank completed its capital campaign by closing a rights offering that was 100% subscribed plus 20% oversubscribed, with $1,200,000 in total subscriptions, representing 600,000 shares of new stock. Total gross capital raised during the entire campaign, which included a private placement and the rights offering, was $6,612,825 or 3,306,413 shares.

The Bank also announced that regulatory agencies have removed the consent order put in place in April 2010. The order was replaced with a memorandum of understanding. This informal agreement is less restrictive and primarily calls for the leverage capital ratio to be at least 10%, the total risk based capital ratio be at least 12%, and continued reduction of adversely classified assets.

"These accomplishments are the result of very hard work by our employees and furthers our efforts to build franchise value for our shareholders," stated Chief Executive Officer, Wayne Doiguchi.

Net income for the six months ending June 30, 2012, was $423 thousand or $.10 per diluted share compared with a net loss of $(416) thousand, or $(.261) per diluted share for the six months ended June 30, 2011. Net income for the quarter ended June 30, 2012, was $75 thousand or $.017 per diluted share compared with a net loss of $(261) thousand, or $(.164) per diluted share, for the quarter ended June 30, 2011. Net income improved in the first six months of 2012 primarily due to an increase in net interest income of $402 thousand, an increase in non-interest income of $661 thousand driven by a $673 thousand gain on sale of loans, offset by an increase in non-interest expense of $342 thousand and provision for loan loss of $118 thousand, compared with the first six months of 2011.

Total assets increased $25.3 million, or 27.6%, to $117.2 million at June 30, 2012 compared with $91.9 million at June 30, 2011. Net loans increased $13.7 million, or 18.6%, to $87.4 million at June 30, 2012, compared with $73.7 million at June 30, 2011. Total deposits increased $20.5 million, or 24.6%, to $103.9 million at June 30, 2012, compared with $83.4 million at June 30, 2011.

Stockholders' equity increased $4.5 million, or 55.2%, to $12.8 million at June 30, 2012 compared with $8.2 million at June 30, 2011. This increase was due primarily to the recent successful capital raise of $4.9 million and excludes the capital raised through the closing of the July rights offering.

Pan Pacific Bank

Pan Pacific Bank is focused on meeting the banking needs of business and individuals in Alameda and Santa Clara counties, that are its primary service areas. The Bank was founded July 2005 and is located at 47065 Warm Springs Blvd, Fremont California. The bank is a SBA / USDA lender and offers a variety of banking products to include loans, deposits, remote capture, and other cash management services. For information concerning this press release please contact Wayne Doiguchi CEO or Dale McKinney CFO at 510 810 8888. Our web address is www.panpacificbank.com.

http://finance.yahoo.com/news/pan-pacific-bank-announces-second-141400700.html

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