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 third
quarter of 2010.
“We are pleased to announce a profit of $663,000 for the third quarter
of 2010,” stated Chairman, Mark
D. Mordell. “This is our fifth consecutive profitable quarter as we
continue to pursue our goal of sustained profitability. Our strategy of
combining moderate growth with controlled expenses and a well maintained
loan loss reserve continues to produce positive results.”
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Financial Results
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In thousands (unaudited)
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9/30/10
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9/30/09
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% Change
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12/31/09
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% Change
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Total Assets
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$341,235
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$285,232
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20%
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$307,936
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11%
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Loans
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$214,323
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$209,011
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3%
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$203,604
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5%
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Deposits
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$308,098
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$256,166
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20%
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$278,318
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11%
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Shareholder's Equity
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$30,676
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$27,464
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12%
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$28,018
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9%
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Common Shares
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2,602
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2,602
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0%
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2,602
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0%
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Quarter Ending
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Quarter Ending
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Year-to-Date
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Year-to-Date
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9/30/10
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9/30/09
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9/30/10
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9/30/09
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Net Income (Loss)
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$663
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$531
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$1,618
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($1,237)
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Earnings (Loss) Per Share
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$0.22
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$0.20
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$0.52
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($0.48)
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“We continue to pursue lending opportunities in our market and our loan
portfolio has started to grow,” said Kenneth
D. Brenner, the Company’s Chief Executive Officer. “Our positive
earnings trend improves our ability to lend and attract quality
personnel and clients to our Bank.”
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
Steve Leen, 650-843-2204
Chief Financial Officer