Pacific Alliance Bank Announces Period Ending September 30, 2016 Results

Pacific Alliance Bank (PFBN) operating results for the period ending September 30, 2016 are as follows:
  • The Bank posted a net income of $1.67 million or $0.55 per share for the 9-months ended September 30, 2016, compared with a net income of $2.57 million or $0.88 per share for the same period in 2015.
  • Total Assets increased by $17.4 million to $275.7 million, a 6.75% growth from $258.3 million at September 30, 2015.
  • Loans outstanding increased by $9.7 million to $199.2 million, a 5.11% growth from $189.5 million at September 30, 2015.
  • Deposits outstanding increased by $32.7 million to $243.2 million, a 15.55% growth from $210.5 million at September 30, 2015.
  • No loan loss provision was provided in the period ended September 30, 2016. Allowance for loan losses to total gross loans was at 1.89% at September 30, 2016.
  • There were no impaired loans on the SBA loan unguaranteed portion at September 30, 2016 and non-accrual loans totaled $183,000.
  • The Bank continues to be categorized as "well-capitalized" under the regulatory guidelines, with common equity tier 1 capital ratio of 13.10%, tier 1 capital ratio of 13.10%, total capital ratio of 14.35% and tier 1 leverage ratio of 11.05%.
  • The Bank's ROA as of September 30, 2016 is 0.87% and ROE is 7.81%. For the same period in 2015, ROA is 1.47% and ROE is 13.94%. The decrease in ROA and ROE was mainly attributable to the bank being required to record provisions for income taxes effective 2016.

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