As of July 31, 2012, Premier Commercial Bancorp was acquired by California United Bank. Premier Commercial Bancorp operates as the holding company for Premier Commercial Bank, N.A. and Premier Commercial Bank Arizona, N.A., which provides personal and business banking services in California and Arizona. It accepts personal and business checking accounts, interest-bearing checking, money market accounts, savings accounts, individual retirement accounts, SEP, and time certificates of deposits. The company’s loan products include consumer installment loans, home equity lines of credit, single-family residential construction loans, single family residential tract loans, investment and re-sale, c...
2400 East Katella Avenue
Anaheim, CA 92806
Founded in 2001
Premier Commercial Bancorp Announces Earnings Results for the First Quarter Ended March 31, 2015; Reports Net Charge-Offs for the First Quarter of 2015
Apr 22 15
Premier Commercial Bancorp announced earnings results for the first quarter ended March 31, 2015. The Bank reported net income of $529,000, or $0.09 per diluted share for the first quarter of 2015 compared to a net profit of $258,000, or $0.05 per diluted share for the first quarter of 2014. Net interest income at $3.0 million for first quarter 2015 increased $141,000, or 4.9% when compared to the $2.9 million for fourth quarter 2014 and increased $316,000, or 11.6%, compared to the $2.7 million for first quarter 2014. The increase in net interest income and net interest margin was primary the result of the fourth quarter 2014 deleveraging of high cost FHLB debt from lower yielding cash and securities. ROE and ROA for first quarter 2015 were 6.97% and 0.65%, respectively, compared to 3.62% and 0.31% for first quarter 2014.
For first quarter 2015, the Bank had $91,000 in loan charge-offs and $23,000 in recoveries, or $68,000 in net charge-offs.