This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Plaza Bank Reports Continued Positive Results For The Quarter Ended March 31, 2010

Plaza Bank (OTCBB:PZBW) is again pleased to report its second consecutive positive quarterly earnings. The Bank reported net income of $37 thousand for the quarter ending March 31, 2010. Combined with the quarterly profit for the 4 th quarter of 2009, Plaza Bank has recorded profits of $157 thousand for the past six months.

Total assets increased $33.7 million during the last twelve months to $128.2 million at March 31, 2010. Net loans increased $1.9 million to $83.0 million during the same period. This was a slight increase, reflective of the slowdown in the current economy. Overall deposits increased 60.1% or $43 million to $115.4 million while core deposits increased 31.7% or $10.3 million over the same period in 2009. Net Loan to deposit ratio is at 72% reflecting a stronger liquidity position during these times.

Net interest income increased to $1.6 million before provisions for loan losses for the quarter ended March 31, 2010, an increase from $1.3 million for the same period in 2009. Operating expenses remained flat for the quarter ended March 31, 2010.

Plaza Bank is very proud of its recent profitability during these difficult times. The past year, 2009, was a year of change for many banks as the industry tries to withstand the affects of the sliding economy on profitability and capital. As the economy begins to improve, Plaza Bank is well positioned to take advantage of the improvement. We have identified our problem loans and have adequately reserved for them at a loan loss reserve of 4.04%, almost twice the national average. This conservative approach will serve us well in the long run.

The economy, particularly in the Northwest, is still not in a strong recovery position. Plaza Bank will continue to monitor and manage its loan portfolio closely during these times.

President & CEO Carlos Guangorena states, “while the past few years have been difficult we are proud of our performance during the past six months as the Bank achieved profitability and controlled its asset quality.”

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs