Pacific Alliance Bank (PFBN)

[Enterprising Investor]

Pacific Alliance Bank Announces period ending September 30, 2014 Results (11/17/14)

ROSEMEAD, Calif.--(BUSINESS WIRE)--Pacific Alliance Bank (PFBN) operating results for the period ending September 30, 2014 are as follows:

The Bank posted a net income of $134 thousand or $0.05 per share in the 3rd quarter of 2014, compared with a net income of $335 thousand or $0.15 per share for the same period in 2013. The Bank posted a net income of $684 thousand or $0.23 per share for year to date ended September 30, 2014, compared with a net income of $853 thousand or $0.38 per share for the same period in 2013.

Total Assets increased by $82.2 million to $212.1 million, a 63.3% growth from $129.9 million at September 30, 2013.

Loans outstanding increased by $51.7 million to $155.6 million, a 49.8% growth from $103.9 million at September 30, 2013.

Deposits outstanding increased by $59.1 million to $168.1 million, a 54.3% growth from $109.0 million at September 30, 2013.

The Bank provided $330 thousand for loan loss provision in the 3rd quarter. Allowance for loan losses to total gross loans is at 2.03% as of September 30, 2014.

As of September 30, 2014, Non–accrual loans totaled $2.2 million.

The Bank continues to be categorized as “well-capitalized” under the regulatory guidelines, with Tier 1 leverage capital ratio of 12.1%, Tier 1 risk-based capital ratio of 13.8%, and Total risk-based capital ratio of 15.0%.

The Bank’s ROA as of September 30, 2014 is 0.51% and ROE is 4.50%. For the same period in 2013, ROA is 0.87% and ROE is 7.10%.

Pacific Alliance Bank continues its mission of delivering business value, serving small to mid-size businesses, owners, and key employees who seek a personal bank ready to meet their banking needs with customized services.

Pacific Alliance Bank is a full-service FDIC insured community bank, headquartered at 8400 E. Valley Blvd., Rosemead, California 91770. Pacific Alliance Bank opened a new branch on May 6, 2014. The address is 18253 Colima Road, #101, Rowland Heights, California 91748. For more information, contact Ms. Patricia Yang [phone] or [e-mail] and visit http://www.pacificalliancebank.com.

http://www.businesswire.com/news/home/20141117006291/en/Pacific-Alliance-Bank-Announces-period-September-30#.VGpQ7_nF98E