Pacific Alliance Bank Announces Period Ending June 30, 2015 Results

ROSEMEAD, Calif.--(BUSINESS WIRE)-- Pacific Alliance Bank (PFBN) operating results for the period ending June 30, 2015 are as follows:

• The Bank posted a net income of $464.8 thousand or $0.16 per share in the 2nd quarter of 2015, compared with a net income of $443.5 thousand or $0.15 per share for the same quarter in 2014. The YTD net income as of June 2015 is $1,062 thousand or $0.36 per share, compared to YTD net income of $691 thousand or $0.24 per share last June 2014.
• Total Assets increased by $56.7 million to $241.6 million, a 30.67% growth from $184.9 million at June 30, 2014.
• Loans outstanding increased by $51.6 million to $186.9 million, a 38.1 % growth from $135.3 million at June 30, 2014.
• Deposits outstanding increased by $54.2 million to $195.6 million, a 38.4% growth from $141.4 million at June 30, 2014.
• Total loan loss provision as of June 30, 2015 amounted to $421 thousand. Allowance for loan losses to total gross loans is at 2.01% as of June 30, 2015.
• There are no impaired loans on the SBA loan unguaranteed portion in the 2nd quarter. As of June 30, 2015, non–accrual loans totaled $2.01 million.
• The Bank continues to be categorized as “well-capitalized” under the regulatory guidelines, with common equity tier 1 capital ratio of 12.68%, tier 1 capital ratio of 12.68%, total capital ratio of 13.94%, and tier 1 leverage ratio of 10.7%.
• The Bank’s ROA as of June 30, 2015 is 0.96% and ROE is 8.84%. For the same period in 2014, ROA is 0.64% and ROE is 5.87%. The increase in ROA and ROE is mainly attributable to the increase in interest income generated from loans.

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 (626) 626-8808 or [email protected] 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.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150806006382/en/

Pacific Alliance Bank
Patricia Yang, 626-626-8808
Public Relations
[email protected]

Source: Pacific Alliance Bank

You May Also Be Interested In

• Brain-Body Therapy Partners With Mother Model Management to Bring Mental Wellness Support to Models
• CJ Foods' Korean Spirits Brand jari Sweeps Top Honors at Leading Global Spirits Competitions
• AEVEX Announces Multi-Year Marketing Partnership with the Washington Commanders