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!

The Private Bank Of California Reports December 31, 2012 Results

Stocks in this article: PBCA

The Private Bank of California (the “Bank”) (OTCBB: PBCA) announced its unaudited financial results for the year and quarter ended December 31, 2012.

2012 Financial Highlights:

  • Net income available to common shareholders totaled $621,000 for the quarter ended December 31, 2012 ($.16 per diluted common share), compared to $380,000 for the same period in the prior year. Net income available to common shareholders totaled $2,139,000 for the year ended December 31, 2012 ($.56 per diluted common share), up 41% from 1,521,000 for 2011.
                                2012             2011
Income before income taxes $ 2,414,000 $ 1,963,000
Provision for income taxes   175,000   1,000
Net income 2,239,000 1,962,000
Preferred stock dividends   100,000   441,000
Net income available to common shareholders $ 2,139,000 $ 1,521,000
  • Net interest income totaled $4,452,000 for the quarter ended December 31, 2012, an improvement of 10% from the same period in the prior year. Year-to-date 2012 net interest income totaled $17,772,000, a 17% increase over the prior year.
  • The Bank achieved record levels of total assets, loans and deposits in 2012 at the same time it invested in the franchise by opening its Orange County Office and increased its operational and risk management staff. As a result, the Bank’s full-time equivalent employee headcount increased from 68 to 83.
  • Total assets grew to $712 million during 2012, up $115 million or 19% from December 31, 2011, a new record for the Bank.
  • Total deposits rose $85 million or 17% during 2012 to $582 million and total loans rose $72 million or 24% to $374 million, record levels for both.
  • Total nonaccrual loans were $6.5 million at December 31, 2012, representing less than 2% of total loans outstanding. The Bank had no earning loans past due 90 days or more at December 31, 2012.
  • The allowance for credit losses was $6.5 million or 1.75% of total loans outstanding at December 31, 2012, compared to $5.3 million or 1.76% at year-end 2011. The allowance is roughly equal to the Bank’s non-performing asset totals at December 31, 2012.
  • Capital ratios remain strong, continuing to significantly exceed all regulatory guidelines for “well-capitalized” financial institutions:




Tier 1 leverage ratio 7,06 % 5.00 %
Tier 1 risk-based capital ratio 12.83 % 6.00 %
Total risk-based capital ratio 14.08 10.00 %

“After a mid-year lull, our projected growth for assets and loans finally materialized and we are very proud of our performance in 2012,” stated Chief Executive Officer David R. Misch.

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 17,883.30 +78.50 0.44%
S&P 500 2,072.27 +1.62 0.08%
NASDAQ 4,774.7930 +9.4130 0.20%

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