• Total assets increased to $1.1 billion up 7% for the quarter and 26% year-over-year
• Total loans increased to $885.6 million up 8% for the quarter and up 28% year-over-year
• Total deposits increased to $850.3 million up 3% for the quarter and up 22% year-over-year
• Record fourth quarter earnings of $2.0 million, or $0.35 per diluted share
• Net interest income for the year increased 43%

LA JOLLA, Calif., Jan. 29, 2020 (GLOBE NEWSWIRE) -- Private Bancorp of America, Inc. (OTCQX:PBAM), (“Company”) and CalPrivate Bank (“Bank”) announced unaudited financial results for the fourth quarter and year ending December 31, 2019. For the full year 2019, the Company reported a net loss of $428,000 or $0.08 per diluted share. The net loss for the year was due to the $9.5 million pre-tax loan charge-off reported in the third quarter of 2019. 

The Company reported net income of $2.0 million or $0.35 per diluted share for the quarter ended December 31, 2019 compared with a net loss of $5.0 million or $0.89 per diluted share in the third quarter of 2019 and net income of $1.0 million or $0.20 per diluted share for the fourth quarter of 2018. Net interest income was $11.1 million for the fourth quarter of 2019 representing a $103,000 or 1%, increase compared to the third quarter of 2019 and a $2.3 million or 26% increase, compared to the same period in 2018. Net interest margin for the fourth quarter was 4.47% compared with 4.67% for the third quarter and 4.52% for the same period in 2018. The yield on earning assets for the quarter was 5.44% compared with 5.63% in the third quarter and 5.33% for the same period in 2018 reflecting the impact of changes in the Federal Funds Rate, and an increase in loan yields year-over-year. The cost of total funding sources was 1.04% for the quarter compared with 1.04% in the third quarter and 0.88% for the same period in 2018. The increase in funding costs compared to the fourth quarter of 2018 was partially attributable to the increased cost from the subordinate debt issued during the second quarter of 2019.   

Non-interest income was $1.0 million for the fourth quarter of 2019 representing a $437,000 or 75% increase compared to the third quarter of 2019 and a $460,000 increase, or 82% increase compared to the same period in 2018. The quarterly increase is primarily due to increased gains from SBA loan sales and gain-on-sale of investment securities. The increase compared to the same period in 2018 is due to the increase in SBA loan sales and other non-interest income. 

Non-interest expense was $8.6 million for the fourth quarter of 2019 representing a $369,000 decrease, or 4%, compared to the third quarter of 2019 and a $1.6 million, or 23% increase, compared to the same period in 2018. The decrease was caused by downward adjustments to bonus and commission accruals, offset by increases to professional and other expenses related to increased legal costs, regulatory assessments and expenses related to unfunded commitments. The increase compared to 2018 was due to increases in salaries and benefits, data processing costs, professional services and other expenses due to increased headcount, legal fees and expense related to unfunded commitments. 

The Company increased total assets to $1.1 billion at December 31, 2019 representing an increase of $66 million or 7% compared to the third quarter of 2019 and $218.8 million or 26% compared to the same period in 2018. Total loans increased $64.6 million, or 8%, from the third quarter to $885.6 million at December 31, 2019 and increased $191 million, or 28%, from the fourth quarter of 2018. The Allowance for Loan Losses increased $708 thousand to $8.6 million in the quarter with a resulting coverage ratio of 0.97% compared to $7.9 million or 0.96% at the third quarter of 2019 and $6.3 million or 0.90% at the fourth quarter of 2018. 

Tom Wornham, President and CEO of the Company and CEO of the Bank said, “Our growth continues to come from all around our Coastal Southern California footprint and across all of our business lines. We are very appreciative of the support of our clients and shareholders; as well as the hard work of our Team Members who are successfully implementing our organic growth strategy. While we are very disappointed we incurred our only significant loan loss since the merger in 2013, we are proud that without this event PBAM would have reported record earnings in 2019.”   

Rick Sowers, President of the Bank added, “We are more than half way through our 36-month growth strategy that we communicated to our investors. We have experienced tremendous growth and I am proud of our Team. Our focus remains on continuing to improve our operating leverage, continually providing an exceptional client experience and getting the most out of the investments we have made.” 

 “The company continued to grow based on prior and current investments in infrastructure, talent and technology. The focus on client experience and corporate culture resulted in the strengthening of the franchise through broader and deeper client relationships and exceptional Team Member engagement,” said Selwyn Isakow, Chairman of PBAM and the Bank. “The company remains well capitalized and reported no past due or delinquent loans at the end of the year. We remain committed to providing our shareholders with solid long-term returns.” 

About Private Bancorp of America, Inc.

Private Bancorp of America, Inc. (OTCQX: PBAM), is the holding company for CalPrivate Bank. CalPrivate Bank provides a Distinctly Different banking experience through unparalleled service and creative funding solutions to high net worth individuals, professionals, locally owned businesses and real estate entrepreneurs. Customers are serviced through offices in Coronado, San Diego, La Jolla, Newport Beach, El Segundo and Beverly Hills as well as efficient electronic banking offerings. The Bank also offers various portfolio and government guaranteed lending programs, including SBA and cross-border Export-Import Bank programs. CalPrivate Bank is an SBA Preferred Lender.

Investor Relations Contact

Thomas V. Wornham
President/CEO
Private Bancorp of America, Inc.
(858) 875-6900

Safe Harbor Paragraph

This press release includes forward-looking statements that involve inherent risks and uncertainties. Private Bancorp of America, Inc. cautions readers that a number of important factors could cause actual results to differ materially from those in the forward‐looking statements. These factors include loan losses, economic conditions and competition in the geographic and business areas in which Private Bancorp of America, Inc. operates, our ability to successfully integrate and develop business through the addition of new personnel and facilities and merged banks, whether our efforts to expand loan, product and service offerings will prove profitable, the effects of the bank mergers and acquisitions in our markets, system failures and internet security, inflation, fluctuations in interest rates, legislation and governmental regulation. You should not place undue reliance on forward‐looking statements and we undertake no obligation to update those statements whether as a result of changes in underlying factors, new information, future events or otherwise.

PRIVATE BANCORP OF AMERICA, INC.
CONSOLIDATED BALANCE SHEET
(Unaudited)
(Dollars in thousands)
	December 31, 2019				September 30, 2019				Dollar change			Percentage change			December 31, 2018				Dollar change			Percentage change
Assets
Cash and due from banks	$	34,551			$	29,480			$	5,071		17.2	%			24,140			$	10,411		43.1	%
Interest-bearing deposits at Federal Reserve Bank		74,561				58,373				16,188		27.7	%			18,964				55,597		293.2	%
Total cash and due from banks		109,112				87,853		1		21,259		24.2	%			43,104				66,008		153.1	%
Interest-bearing time deposits with other institutions		2,256				2,255				1		0.0	%			2,751				(495	)	-18.0	%
Investment securities available for sale		51,215				73,209				(21,994	)	-30.0	%			98,170				(46,955	)	-47.8	%
Loans		885,556				820,989				64,567		7.9	%			694,531				191,025		27.5	%
Allowance for loan losses		(8,601	)			(7,893	)			(708	)	9.0	%			(6,252	)			(2,349	)	37.6	%
Net loans		876,955				813,096				63,859		7.9	%			688,279				188,676		27.4	%
Federal Home Loan Bank stock, at cost		4,060				4,060				0		0.0	%			3,310				750		22.7	%
Right of use asset		6,452				6,877				(425	)	-6.2	%			0				6,452		0.0	%
Premises and equipment, net		3,165				2,947				218		7.4	%			2,223				942		42.4	%
Other intangible assets		1,080				978				102		10.5	%			884				196		22.2	%
Deferred tax asset		5,966				4,576				1,390		30.4	%			4,409				1,557		35.3	%
Accrued interest receivable		2,703				2,569				134		5.2	%			2,527				176		7.0	%
Other assets		3,022				1,565				1,457		93.1	%			1,507				1,515		100.5	%
Total assets	$	1,065,986			$	999,985			$	66,001		6.6	%		$	847,164			$	218,822		25.8	%
Liabilities and Shareholders' Equity
Liabilities
Noninterest bearing	$	268,116			$	266,205			$	1,911		0.7	%		$	226,119			$	41,997		18.6	%
Interest Bearing		582,139				557,800				24,339		4.4	%			470,344				111,795		23.8	%
Total deposits		850,255				824,005				26,250		3.2	%			696,463				153,792		22.1	%
FHLB borrowings		90,000				55,000				35,000		63.6	%			55,000				35,000		63.6	%
Other borrowings		17,932				17,930				2		0.0	%			7,909				10,023		126.7	%
Accrued interest payable and other liabilities		12,120				9,779				2,341		23.9	%			4,241				7,879		185.8	%
Total liabilities		970,307				906,714				63,593		7.0	%			763,613				206,694		27.1	%
Shareholders' equity
Common stock		69,159				68,804				355		0.5	%			58,373				10,786		18.5	%
Additional paid-in capital		3,048				2,997				51		1.7	%			3,083				(35	)	-1.1	%
Retained earnings		22,904				20,917				1,987		9.5	%			23,363				(459	)	-2.0	%
Accumulated other comprehensive income		568				553				15		2.7	%			(1,268	)			1,836		-144.8	%
Total stockholders' equity		95,679				93,271				2,408		2.6	%			83,551				12,128		14.5	%
Total liabilities and stockholders' equity	$	1,065,986			$	999,985			$	66,001		6.6	%		$	847,164			$	218,822		25.8	%

PRIVATE BANCORP OF AMERICA, INC.
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
(Dollars in thousands, except per share amounts)
		For the three months ended
		December 31, 2019			September 30, 2019				Dollar change			Percentage change			December 31, 2018				Dollar change			Percentage change
Interest Income
Loans		$	12,733		$	12,497			$	236		1.9	%		$	9,459			$	3,274		34.6	%
Investment securities			485			544				(59	)	-10.8	%			747				(262	)	-35.1	%
Deposits in other financial institutions			254			181				73		40.3	%			127				127		100.0	%
Total interest income			13,472			13,222				250		1.9	%			10,333				3,139		30.4	%
Interest Expense
Deposits			1,825			1,605				220		13.7	%			860				965		112.2	%
Borrowings			575			648				(73	)	-11.3	%			710				(135	)	-19.0	%
Total interest expense			2,400			2,253				147		6.5	%			1,570				830		52.9	%
Net interest income			11,072			10,969				103		0.9	%			8,763				2,309		26.3	%
Provision for credit losses			708			9,737				(9,029	)	-92.7	%			863				(155	)	-18.0	%
Net interest income after provision for credit losses			10,364			1,232				9,132		741.2	%			7,900				2,464		31.2	%
Noninterest income:
Service charges on deposit accounts			138			137				1		0.7	%			96				42		43.8	%
Net gain on sale of loans			432			163				269		165.0	%			410				22		5.4	%
Gain on sale of investment securities			190			125				65		52.0	%			(13	)			203		-1561.5	%
Other noninterest income			261			159				102		64.2	%			68				193		283.8	%
Total noninterest income			1,021			584				437		74.8	%			561				460		82.0	%
Noninterest expense:
Salary and employee benefits			5,427			6,341				(914	)	-14.4	%			4,741				686		14.5	%
Occupancy and equipment			832			793				39		4.9	%			620				212		34.2	%
Data processing			631			588				43		7.3	%			541				90		16.6	%
Professional services			726			639				87		13.6	%			350				376		107.4	%
Other expenses			946			570				376		66.0	%			688				258		37.5	%
Total noninterest expense			8,562			8,931				(369	)	-4.1	%			6,940				1,622		23.4	%
Income (loss) before provision for income taxes			2,823			(7,115	)			9,938		-139.7	%			1,521				1,302		85.6	%
Provision for income taxes			857			(2,081	)			2,938		-141.2	%			474				383		80.8	%
Net income (loss)		$	1,966		$	(5,034	)		$	7,000		-139.1	%		$	1,047			$	919		87.8	%
Net income available to common shareholders		$	1,931		$	(4,950	)		$	6,881		-139.0	%			1,025			$	906		88.4	%
Earnings per share
Basic earnings (loss) per share		$	0.36		$	(0.91	)		$	1.27		-139.7	%		$	0.21			$	0.15		74.6	%
Diluted earnings (loss) per share		$	0.35		$	(0.89	)		$	1.24		-139.3	%		$	0.20			$	0.15		75.8	%
Average shares outstanding			5,414,056			5,465,278				(51,222	)	-0.9	%			4,970,090				443,966		8.9	%
Diluted average shares outstanding			5,492,930			5,563,931				(71,001	)	-1.3	%			5,147,858				345,072		6.7	%

PRIVATE BANCORP OF AMERICA, INC.
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
(Dollars in thousands, except per share amounts)
		For the twelve months ended
		December 31, 2019				December 31, 2018				Dollar change			Percentage change
Interest Income
Loans		$	47,182				30,219			$	16,963		56.1	%
Investment securities			2,303				2,698				(395	)	-14.6	%
Deposits in other financial institutions			695				704				(9	)	-1.3	%
Total interest income			50,180				33,621				16,559		49.3	%
Interest Expense
Deposits			5,977				2,405				3,572		148.5	%
Borrowings			2,438				1,967				471		23.9	%
Total interest expense			8,415				4,372				4,043		92.5	%
Net interest income			41,765				29,249				12,516		42.8	%
Provision for credit losses			11,830				1,731				10,099		583.4	%
Net interest income after provision for credit losses			29,935				27,518				2,417		8.8	%
Noninterest income:
Service charges on deposit accounts			485				258				227		88.0	%
Net gain on sale of loans			1,249				1,670				(421	)	-25.2	%
Gain on sale of investment securities			341				(4	)			345		-8625.0	%
Other noninterest income			688				441				247		56.0	%
Total noninterest income			2,763				2,365				398		16.8	%
Noninterest expense:
Salary and employee benefits			22,889				15,943				6,946		43.6	%
Occupancy and equipment			2,941				2,310				631		27.3	%
Data processing			2,233				1,902				331		17.4	%
Professional services			2,121				1,248				873		70.0	%
Other expenses			3,099				2,632				467		17.7	%
Total noninterest expense			33,283				24,035				9,248		38.5	%
Income (loss) before provision for income taxes			(585	)			5,848				(6,433	)	-110.0	%
Provision for income tax			(157	)			1,712				(1,869	)	-109.2	%
Net income (loss)		$	(428	)		$	4,136			$	(4,564	)	-110.3	%
Net income available to common shareholders		$	(420	)		$	4,073			$	(4,493	)	-110.3	%
Earnings per share
Basic earnings (loss) per share		$	(0.08	)		$	0.82			$	(0.90	)	-109.7	%
Diluted earnings (loss) per share		$	(0.08	)		$	0.80			$	(0.88	)	-110.1	%
Average shares outstanding			5,241,325				4,959,314				282,011		5.7	%
Diluted average shares outstanding			5,320,200				5,136,987				183,213		3.6	%

		PRIVATE BANCORP OF AMERICA, INC.
		Consolidated average balance sheet, interest, yield and rates
		(Unaudited)
		(Dollars in thousands)
		For the three months ended
		December 31, 2019									September 30, 2019									December 31, 2018
		Average Balance			Interest			Average Yield/Rate			Average Balance			Interest			Average Yield/Rate			Average Balance			Interest			Average Yield/Rate
Interest-Earnings Assets:
Deposits in other financial institutions		$	66,186		$	254		1.52	%		$	35,658		$	181		2.01	%		$	24,810		$	127		2.03	%
Investment securities			70,647			485		2.75	%			79,842			544		2.73	%			102,746			747		2.88	%
Loans			845,199			12,733		5.98	%			816,281			12,497		6.07	%			640,963			9,459		5.85	%
Total interest-earning assets			982,032			13,472		5.44	%			931,781			13,222		5.63	%			768,519			10,333		5.33	%
Noninterest-earning assets			36,912									39,083									24,752
Total Assets		$	1,018,944								$	970,864								$	793,271
Interest-Bearing Liabilities
Interest-bearing transaction accounts		$	56,061		$	130		0.92	%		$	37,644		$	69		0.73	%		$	17,890		$	9		0.20	%
Money market			389,499			1,009		1.03	%			372,008			959		1.02	%			306,361			530		0.69	%
Savings deposits			10,078			6		0.24	%			7,099			5		0.28	%			6,385			4		0.25	%
Certificates of deposit			114,699			680		2.35	%			100,705			572		2.25	%			70,416			317		1.79	%
Total Interest-Bearing Deposits			570,337			1,825		1.27	%			517,456			1,605		1.23	%			401,052			860		0.85	%
FHLB advances			56,814			306		2.14	%			63,301			376		2.36	%			97,918			605		2.45	%
Other borrowings			17,931			269		6.00	%			17,929			272		6.07	%			7,907			105		5.27	%
Total Interest-Bearing Liabilities			74,745			575		3.05	%			81,230			648		3.16	%			105,825			710		2.66	%
Noninterest-bearing deposits			271,892									261,365									199,588
Total Funding Sources			916,974			2,400		1.04	%			860,051			2,253		1.04	%			706,465			1,570		0.88	%
Noninterest-bearing liabilities			10,506									12,422									4,200
Shareholders' equity			91,464									98,391									82,606
Total Liabilities and Shareholders' Equity		$	1,018,944								$	970,864								$	793,271
Net interest spread								4.40	%								4.59	%								4.45	%
Net interest income					$	11,072								$	10,969								$	8,763
Net interest margin								4.47	%								4.67	%								4.52	%

	Condensed Balance Sheets
	(Dollars in thousands, except per share amounts)
	Dec 31, 2019				Sep 30, 2019				Jun 30, 2019				Mar 31, 2019				Dec 31, 2018
Assets
Cash and due from banks	$	111,368			$	90,108			$	45,337			$	37,998			$	45,855
Investment securities		51,215				73,209				84,752				85,852				98,170
Loans		885,556				820,989				795,345				713,408				694,531
Allowance for loan losses		(8,601	)			(7,893	)			(7,637	)			(6,641	)			(6,252	)
Net loans		876,955				813,096				787,708				706,767				688,279
Right of use asset		6,452				6,877				7,271				6,951				-
Premises and equipment, net		3,165				2,947				2,669				2,416				2,223
Other assets and interest receivable		16,831		-		13,748		-		12,810		-		12,554		-		12,637
Total assets	$	1,065,986			$	999,985			$	940,547			$	852,538			$	847,164
Liabilities and Shareholders' Equity
Liabilities
Noninterest Bearing	$	268,116			$	266,205			$	247,153			$	263,255			$	226,119
Interest Bearing		582,139				557,800				485,011				443,572				470,344
Total Deposits		850,255				824,005				732,164				706,827				696,463
Borrowings		107,932				72,930				99,929				47,832				62,909
Accrued interest payable and other liabilities		12,120				9,779				10,599				11,777				4,240
Total liabilities		970,307				906,714				842,692				766,436				763,612
Shareholders' equity
Common stock		69,159				68,804				68,740				58,576				58,373
Additional paid-in capital		3,048				2,997				2,823				3,062				3,083
Retained earnings		22,904				20,917				25,997				24,952				23,364
Accumulated other comprehensive income		568				553				295				(488	)			(1,268	)
Total shareholders' equity		95,679				93,271				97,855				86,102				83,552
Total liabilities and shareholders' equity	$	1,065,986			$	999,985			$	940,547			$	852,538			$	847,164
Book value per common share	$	17.15			$	16.84			$	17.60			$	16.90			$	16.41
Tangible book value per common share	$	16.96			$	16.66			$	17.44			$	16.72			$	16.23
	Regulatory Capital Ratios (PBAM) 1
	Dec 31, 2019				Sep 30, 2019				Jun 30, 2019				Mar 31, 2019				Dec 31, 2018
Tier 1 leverage ratio		9.17	%			9.54	%			10.69	%			9.97	%			10.39	%
Tier 1 risk-based capital ratio		9.86	%			10.24	%			11.10	%			11.10	%			11.36	%
Common equity Tier 1 ratio		9.86	%			10.24	%			11.10	%			11.10	%			11.36	%
Total risk-based capital ratio		12.71	%			13.09	%			14.10	%			12.01	%			12.25	%
Tangible equity / tangible assets		8.88	%			9.24	%			10.32	%			10.00	%			9.74	%
1 Preliminary ratios for December 31, 2019

	Condensed Statements of Income
	(Dollars in thousands, except per share amounts)
	Dec 31, 2019				Sep 30, 2019				Jun 30, 2019				Mar 31, 2019				Dec 31, 2018
Interest income	$	13,472			$	13,222			$	12,169			$	11,317			$	10,333
Interest expense		2,400				2,253				2,076				1,686				1,570
Net interest income		11,072				10,969				10,093				9,631				8,763
Provision for credit losses		708				9,737				996				389				863
Net interest income after provision for credit losses		10,364				1,232				9,097				9,242				7,900
Noninterest income		1,021				584				606				552				561
Salary and employee benefits		5,427				6,341				5,892				5,229				4,741
Occupancy and equipment		832				793				641				674				620
Data processing		631				588				490				524				541
Professional services		726				639				364				392				350
Other expenses		946				570				854				730				688
Total noninterest expense		8,562				8,931				8,241				7,549				6,940
Income before provision for income taxes		2,823				(7,115	)			1,462				2,245				1,521
Income taxes		857				(2,081	)			411				656				474
Net income	$	1,966			$	(5,034	)		$	1,051			$	1,589			$	1,047
Net income available to common shareholders	$	1,931			$	(4,950	)		$	1,031			$	1,559			$	1,025
Earnings per share
Basic earnings per share	$	0.36			$	(0.91	)		$	0.21			$	0.31			$	0.21
Diluted earnings per share	$	0.35			$	(0.89	)		$	0.20			$	0.30			$	0.20
Average shares outstanding		5,414,056				5,465,278				5,027,437				4,996,811				5,042,921
Diluted average shares outstanding		5,492,930				5,563,931				5,133,305				5,114,096				5,160,206
	Performance Ratios
	Dec 31, 2019				Sep 30, 2019				Jun 30, 2019				Mar 31, 2019				Dec 31, 2018
ROAA		0.77	%			-2.06	%			0.47	%			0.76	%			0.52	%
ROAE		8.53	%			-20.30	%			4.85	%			7.60	%			5.03	%
ROTE		8.01	%			-20.50	%			4.90	%			7.72	%			5.09	%
Net interest margin		4.47	%			4.67	%			4.70	%			4.77	%			4.52	%
Net interest spread		4.40	%			4.59	%			4.62	%			4.71	%			4.45	%
Efficiency ratio		70.80	%			77.30	%			77.03	%			74.13	%			74.43	%
Noninterest expense / average assets		3.33	%			3.65	%			3.68	%			3.61	%			3.47	%

	Average Balances
	(Dollars in thousands)
	Dec 31, 2019				Sep 30, 2019				Jun 30, 2019				Mar 31, 2019				Dec 31, 2018
Total assets	$	1,018,944			$	970,864			$	897,120			$	847,900			$	793,271
Earning assets	$	982,032			$	931,781			$	861,599			$	818,630			$	768,519
Total loans	$	845,199			$	816,281			$	748,846			$	701,715			$	640,963
Total deposits	$	842,229			$	778,821			$	718,579			$	690,384			$	600,640
Total equity	$	91,464			$	98,391			$	86,964			$	84,827			$	82,606
	Loan Balances by Type
	(Dollars in thousands)
	Dec 31, 2019				Sep 30, 2019				Jun 30, 2019				Mar 31, 2019				Dec 31, 2018
Real estate - investor owned	$	245,658			$	247,953			$	245,068			$	235,185			$	234,540
Real estate - owner occupied		225,778				192,739				175,112				136,484				122,258
Real estate - multifamily		68,308				68,536				67,839				69,083				62,388
Real estate - single family		59,487				59,782				56,783				58,334				59,685
Commercial business		243,438				204,166				201,892				173,027				180,602
Land and construction		32,151				37,918				37,966				32,987				24,679
Consumer		6,172				5,585				7,035				5,107				5,255
Total loans held for investment		880,992				816,679				791,695				710,207				689,407
Loans held for sale		4,564				4,310				3,650				3,201				5,124
Total loans, including loans held for sale		885,556				820,989				795,345				713,408				694,531
Allowance for loan losses		(8,601	)			(7,893	)			(7,637	)			(6,641	)			(6,252	)
Net loans	$	876,955			$	813,096			$	787,708			$	706,767			$	688,279
	Deposits by Type
	(Dollars in thousands)
	Dec 31, 2019				Sep 30, 2019				Jun 30, 2019				Mar 31, 2019				Dec 31, 2018
Non interest bearing DDA	$	268,116			$	266,205			$	247,153			$	263,255			$	226,119
Interest bearing DDA		112,397				47,805				29,583				23,195				21,079
Savings & MMA		350,563				394,128				363,803				325,880				344,776
Retail CD		6,989				7,132				7,025				4,135				7,651
Jumbo CD		112,191				108,735				84,600				90,362				96,838
Total deposits	$	850,255			$	824,005			$	732,164			$	706,827			$	696,463
	Asset Quality
	(Dollars in thousands)
	Dec 31, 2019				Sep 30, 2019				Jun 30, 2019				Mar 31, 2019				Dec 31, 2018
Total Loans	$	885,556			$	820,989			$	795,345			$	713,408			$	694,531
30-89 day past due loans	$	-			$	-			$	155			$	-			$	-
90+ day past due loans	$	-			$	-			$	-			$	-			$	-
Nonaccrual loans	$	-			$	-			$	-			$	-			$	-
NPAs / Assets		0.00	%			0.00	%			0.00	%			0.00	%			0.00	%
NPLs / loans & OREO		0.00	%			0.00	%			0.00	%			0.00	%			0.00	%
Net quarterly charge-offs	$	-			$	9,481			$	-			$	-			$	-
Net charge-offs/avg loans (annualized)		0.00	%			4.65	%			0.00	%			0.00	%			0.00	%
Allowance for loan losses to loans		0.97	%			0.96	%			0.96	%			0.93	%			0.90	%
Allowance for loan losses to nonaccrual loans	NM				NM				NM				NM				NM

 

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