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 fourth
quarter of 2010.
“We are pleased to announce earnings of $606,000 for the fourth quarter
of 2010. Our goal has been to reach sustainable profitability and this
is our sixth consecutive profitable quarter,” stated Chairman, Mark
D. Mordell. “Our year-to-date earnings
of $2.2 million are a significant improvement over the previous year,
making 2010 our most profitable year ever.”
Financial Results
In thousands (unaudited)
|
| |
| |
| |
| |
| | |
|
12/31/10
| |
|
12/31/09
| |
% Change
|
|
Total Assets
| | |
$
|
316,789
| |
$
|
307,936
| |
3
|
%
|
|
Loans
| | |
$
|
208,542
| |
$
|
203,604
| |
2
|
%
|
|
Deposits
| | |
$
|
284,688
| |
$
|
278,318
| |
2
|
%
|
|
Shareholders' Equity
| |
$
|
30,354
| |
$
|
28,018
| |
8
|
%
|
|
Common Shares
| | | |
2,602
| | |
2,602
| |
0
|
%
|
|
| |
Quarter Ending
|
|
Quarter Ending
|
|
Year-to-Date
|
|
Year-to-Date
|
| |
|
12/31/10
| |
|
12/31/09
| |
|
12/31/10
| |
12/31/09
|
|
|
Net Income (Loss)
|
$
|
606
| |
$
|
679
| |
$
|
2,224
| |
($559
|
)
|
|
Earnings (Loss) Per Share
|
$
|
0.16
| |
$
|
0.26
| |
$
|
0.79
| |
($0.21
|
)
|
“We continue to pursue lending opportunities in our market even as we
maintain our careful underwriting,” said Kenneth
D. Brenner, the Company’s Chief Executive Officer. “Our strategy of
moderate growth combined with controlled expenses and a well maintained
loan loss reserve continues to produce results.”
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: The Private Bank of the Peninsula
Contact:
The Private Bank of the Peninsula
Steve Leen, Chief Financial
Officer, 650-843-2204