- 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 is a full-service FDIC insured community bank, headquartered at 8400 E. Valley Blvd., Rosemead, California 91770. Pacific Alliance Bank has an additional full-service branch located at 18253 Colima Road, #101, Rowland Heights, California 91748. For more information, contact Ms. Patricia Yang at (626) 626-8808 or email@example.com and visit http://www.pacificalliancebank.com.This document may include forward-looking information, which is subject to the "safe harbor" created by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act and the Private Securities Litigation Reform Act of 1995. When the Bank uses or incorporates by reference in this document the words "anticipate," "estimate," "expect," "project," "intend," "commit," "believe" and similar expressions, the Bank intends to identify forward-looking statements. Our actual results may differ materially from those projected in any forward-looking statements, as they will depend on many factors about which we are unsure, including many factors which are beyond our control.