Private Bancorp of America, Inc. Announces Strong Net Income and Earnings Per Share for First Quarter 2025

Financial Performance - The company reported a net income of $10.6 million, or $1.80 per diluted share, for Q1 2025, slightly down from $10.7 million, or $1.82 per diluted share, in the prior quarter, but up from $7.9 million, or $1.36 per diluted share, in Q1 2024 [2][6] - Total deposits reached $2.19 billion as of March 31, 2025, an increase of $57.7 million or 2.7% from December 31, 2024, and a 15.1% increase year over year [6][16] - Core deposits were $2.05 billion, up $154.6 million or 8.2% from the prior quarter, and increased 27.5% year over year [6][16] Asset Quality - The allowance for loan losses was $26.4 million, or 1.27% of loans held-for-investment (HFI), down from 1.31% at the end of the previous quarter [18] - Criticized and classified loans totaled $40.8 million, or 1.96% of total loans, up from $24.7 million, or 1.18% of total loans, in the prior quarter [6][18] Operational Efficiency - Noninterest expense was $14.1 million for Q1 2025, slightly down from $14.2 million in the prior quarter, with an efficiency ratio of 47.90% compared to 48.34% in the prior quarter [12] - The company continues to focus on improving productivity through technology investments and streamlined processes [4][13] Market Position and Recognition - The bank was recognized as 1 for both Return on Assets (ROA) and Return on Equity (ROE) among banks with less than $5 billion in assets [7] - It was also ranked as the 1 SBA 504 Community Bank Lender in the United States and received a Bauer 5 Star Rating [7] Interest Income and Margin - Net interest income for Q1 2025 totaled $27.7 million, an increase of $0.3 million or 1.2% from the prior quarter, and a 21.8% increase from Q1 2024 [8][31] - The net interest margin was 4.61% for Q1 2025, down from 4.67% in the prior quarter but up from 4.31% in Q1 2024 [9][34] Liquidity and Capital Ratios - Total available liquidity was $2.1 billion, representing 192.8% of uninsured deposits as of March 31, 2025 [17] - The bank's capital ratios exceeded the levels established for "well capitalized" institutions, with a Tier I risk-based capital ratio of 11.75% [21]