PALO ALTO, Calif.--(BUSINESS WIRE)--
Peninsula Bank Holding Co., the parent company of The Private Bank of
the Peninsula, today announced its unaudited results for the second
quarter of 2010.
“We are pleased to announce a profitable second quarter in 2010 and our
fourth consecutive profitable quarter,” stated Chairman, Mark
D. Mordell. “Our strategy of
combining focused, quality growth with controlled expenses and a well
maintained loan loss reserve is clearly producing results.”
Financial Results
|
In thousands (unaudited)
|
|
|
|
| |
6/30/10
|
| |
6/30/09
|
|
% Change
| |
| |
12/31/09
|
|
% Change
| |
|
Total Assets
| |
$
|
324,442
| |
$
|
273,903
| |
18
|
%
| |
$
|
307,936
| |
5
|
%
|
|
Loans
| |
$
|
207,070
| |
$
|
210,384
| |
-2
|
%
| |
$
|
203,604
| |
2
|
%
|
|
Deposits
| |
$
|
292,774
| |
$
|
245,836
| |
19
|
%
| |
$
|
278,318
| |
5
|
%
|
|
Shareholders’ Equity
| |
$
|
29,738
| |
$
|
26,797
| |
11
|
%
| |
$
|
28,018
| |
6
|
%
|
|
Common Shares
| | |
2,602
| | |
2,602
| |
0
|
%
| | |
2,602
| |
0
|
%
|
|
|
Quarter Ending
|
|
Quarter Ending
|
|
Year-to-Date
|
|
Year to Date
|
| | |
6/30/10
| |
6/30/09
| | | |
6/30/10
| |
6/30/09
| |
|
Net Income (Loss)
| |
$
|
526
| |
($2,111
|
)
| |
$
|
955
| |
($1,769
|
)
|
|
Earnings (Loss) Per Share
| |
$
|
0.17
| |
($0.81
|
)
| |
$
|
0.30
| |
($0.68
|
)
|
“We continue to pursue lending opportunities in our market and have
ample capacity to make loans. Our careful underwriting and increased
payoffs from an improving market have caused a reduction in our loan
portfolio,” said Kenneth
D. Brenner, the Company’s Chief Executive Officer. “Our positive
earnings trend owes much to the loan underwriting enhancements that we
began in early 2008 and the operating efficiencies we have developed
over the last three years.”
About the Bank
The Private Bank of the Peninsula, a subsidiary of Peninsula Bank
Holding Co. (OTCBB:PBKH), is headquartered in Palo Alto, California. The
Private Bank focuses on the banking needs of businesses and individuals
primarily in the Greater San Francisco Bay Area. The Bank’s experienced
senior management team provides personalized, relationship-based
service, giving clientele access to senior level decision-makers. The
Bank specializes in the following markets: commercial & industrial,
asset based, real estate construction, commercial real estate, and real
estate bridge financing.
Source: Peninsula Bank Holding Co.
Contact:
Peninsula Bank Holding Co.
Steve Leen, 650-843-2204
Chief
Financial Officer