Overview

* CalPrivate Bank ( PBAM ) Q3 net income rises 2.6% yr/yr to $9.7 mln

* Diluted EPS for Q3 was $1.65, down from $1.77 in prior quarter

* Core deposits increased 5.8% from prior quarter, brokered deposits decreased 65.7% yr/yr

Outlook

* Company notes strong pipelines going into the fourth quarter

* CalPrivate Bank ( PBAM ) focuses on expanding relationships and opening new branches

* Company maintains a disciplined approach to lending amid slow loan growth

Result Drivers

* INTEREST INCOME REVERSAL - Q3 results affected by $1.3 mln reversal of interest income from loans placed on nonaccrual

* CORE DEPOSIT GROWTH - Core deposits increased by $121.1 mln or 5.8% from prior quarter, reflecting strategic focus

* CREDIT LOSS PROVISION - Provision for credit losses rose to $1.8 mln, driven by increased reserves for nonaccrual loans

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $1.65

Q3 Net $9.70

Income mln

Q3 Net $29.33

Interest mln

Income

Q3 Basic $1.67

EPS

Q3 $13.80

Pretax mln

Profit

Q3 $1.79

Provisio mln

n for

Credit

Losses

Press Release:

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)