2023-04-21 05:10:19 ET
- Private Bancorp of America press release ( OTCQX:PBAM ): Q1 GAAP EPS of $1.57 beats by $0.45 .
- Revenue of $23.64M (+16.7% Y/Y) misses by $0.13M .
- The allowance for loan losses was 1.30% of loans HFI as of March 31, 2023 compared to 1.21% at December 31, 2022. The increase primarily resulted from the adoption of CECL.
- The provision for loan losses for the first quarter of 2023 was $73 thousand, compared to $60 thousand for the prior quarter and $142 thousand for the first quarter of 2022.
- Tangible book value per share was $26.30 as of March 31, 2023, up from $25.06 at December 31, 2022.
For further details see:
Private Bancorp of America GAAP EPS of $1.57 beats by $0.45, revenue of $23.64M misses by $0.13M