Private Bancorp of America, Inc. (NASDAQ: PBAM) reported unaudited financial results for the three months ended September 30, 2026, in a press release filed with the SEC. For the third quarter of 2026, the company recorded net income of $11.4 million, or $1.97 per diluted share. This figure represents a decrease from the prior quarter's $13.1 million, or $2.27 per share, but an increase compared to the $9.7 million, or $1.65 per share, reported in the same period of 2025.
The company reported a return on average assets of 1.65% and a return on average tangible common equity of 15.62% for the third quarter. Total assets stood at $2.75 billion as of September 30, 2026, an increase of $39.9 million from the prior quarter. This growth was driven by a $54.0 million increase in loans held-for-investment and a $30.6 million increase in available-for-sale investment securities, partially offset by a $49.1 million decrease in cash and cash equivalents.
Loans held-for-investment totaled $2.19 billion, an increase of $54.0 million since June 30, 2026. The company’s net interest margin for the quarter was 5.05%. Noninterest income was $1.4 million, while noninterest expense totaled $18.4 million, resulting in an efficiency ratio of 51.68%. The provision for credit losses for the quarter was $1.3 million, and the effective tax rate was 28.3%.
As of September 30, 2026, criticized loans totaled $71.9 million, or 3.29% of total loans, an increase from the prior quarter. The allowance for loan losses was $31.7 million, or 1.45% of loans held-for-investment. Total deposits were $2.41 billion, with core deposits increasing by $31.8 million. The company noted that the NASDAQ Uplisting was completed on July 30, 2026, with approximately $0.9 million in expenses associated with the event recorded during the quarter.
