PPFC News Alert Pan Pacific Bank CA (PPFC) 2.7000 02/15/2015
Post# of 64074
Posted On: 02/15/2015 9:59:43 AM
Pan Pacific Bank CA (PPFC) 2.7000 $PPFC
Pan Pacific Bank Announces 2014 as Year of Growth, Continued Profitability
Business Wire - Thu Feb 05, 11:21AM CST
Pan Pacific Bank (OTCBB: PPFC) today announced its unaudited financial results for the year ended December 31, 2014, including total assets of $120.1 million, net loans of $86.7 million and deposits of $99.5 million. "Pan Pacific Bank is pleased to report a year of progress and profitability. Total assets, net loans and total deposits grew 9.3%, 13.7% and 9.3%, respectively, on a year over year basis," said Wayne Doiguchi, Pan Pacific Bank's CEO. "For the quarter ended December 31, 2014 and the same period in 2013, net after tax earnings were $63 thousand and $99 thousand, respectively. For the years ended 2014 and 2013, net after tax earnings were $3,049 thousand and $254 thousand, respectively. During 2014, Bank management determined that it is more likely than not that the deferred tax asset (DTA) will be realized. Therefore, the second quarter and fourth quarter tax expense includes a benefit or income of $2,740 thousand and $117 thousand, respectively related to the reversal of the valuation allowance for deferred tax assets."
Genelle Wrzesinski Joins Pan Pacific Bank As SVP of Operations and Administration
Business Wire - Thu Jan 29, 11:00AM CST
Pan Pacific Bank (OTCBB
PFC) today announced that Genelle Wrzesinski, an executive with a 40-plus year track record of successful operational leadership, recently joined the Bank as Senior Vice President and Operations Administrator.
Richard Hagarty Joins Pan Pacific Bank as EVP and Chief Credit Officer
Business Wire - Thu Dec 04, 11:01AM CST
Pan Pacific Bank (OTCBB PFC) today announced that well-known and respected bank executive Richard "Dick" Hagarty recently joined the Bank as Executive Vice President and Chief Credit Officer. Mr. Hagarty brings nearly 40 years of experience to the Bay Area community banking industry.
Pan Pacific Bank Announces Expansion to San Jose
Business Wire - Wed Nov 12, 11:00AM CST
Pan Pacific Bank (OTCBB PFC) today announced its expansion into San Jose with the opening of its downtown branch at 300 Park Avenue, Suite 100. Founded in 2005 and headquartered in Fremont, California, the bank will offer a full suite of business banking services to the surrounding community.
Pan Pacific Bank Announces Year-To-Date Growth in Net Loans 15.5%
Business Wire - Wed Oct 22, 8:02AM CDT
Pan Pacific Bank (OTCBB: PPFC) today announced its unaudited financial results for the quarter ended September 30, 2014, including total assets of $119.1 million, net loans of $88.1 million and deposits of $99.0 million. "Pan Pacific Bank is pleased to report continued positive earnings with net after-tax earnings for the three and nine months ending September 30, 2014, of $56,468 and $2,983,071, respectively," said Wayne Doiguchi, Pan Pacific Bank's CEO. "During the second quarter, Bank management determined that it is more likely than not that the deferred tax asset (DTA) will be realized. Therefore, the second quarter tax expense includes a benefit or income of $2,740,245 related to the reversal of the valuation allowance for deferred tax assets."
Pan Pacific Bank Names Sally Pera to Board of Directors
Business Wire - Tue Sep 30, 11:01AM CDT
Pan Pacific Bank (OTCBB PFC) today announced that renowned Silicon Valley business connector and executive Sally Pera has joined its Board of Directors. The appointment of Ms. Pera, currently CEO of the Association for Corporate Growth - Silicon Valley (ACGSV), brings the number of Pan Pacific board members to nine.
Pan Pacific Bank Announces Recapture of $2.7M Income Related to DTA, Plans for New Branch in San Jose, CA
PR Newswire - Mon Jul 14, 8:35AM CDT
Pan Pacific Bank (OTCBB: PPFC) today announced its unaudited financial results for the quarter ended June 30, 2014, including total assets of $110.3 million, net loans of $82.7 million and deposits of $88.3 million. "Pan Pacific Bank is pleased to report continued positive earnings with net after-tax earnings for the three and six months ending June 30, 2014, of $2,852,637 and $2,926,602, respectively," said Wayne Doiguchi, Pan Pacific Bank's CEO. "During the quarter, Bank management determined that it is more likely than not that the deferred tax asset (DTA) will be realized. Therefore, the second quarter tax expense includes a benefit or income of $2,740,245 related to the reversal of the valuation allowance for deferred tax assets."
Pan Pacific Bank Announces 2014 as Year of Growth, Continued Profitability
Business Wire - Thu Feb 05, 11:21AM CST
Pan Pacific Bank (OTCBB: PPFC) today announced its unaudited financial results for the year ended December 31, 2014, including total assets of $120.1 million, net loans of $86.7 million and deposits of $99.5 million. "Pan Pacific Bank is pleased to report a year of progress and profitability. Total assets, net loans and total deposits grew 9.3%, 13.7% and 9.3%, respectively, on a year over year basis," said Wayne Doiguchi, Pan Pacific Bank's CEO. "For the quarter ended December 31, 2014 and the same period in 2013, net after tax earnings were $63 thousand and $99 thousand, respectively. For the years ended 2014 and 2013, net after tax earnings were $3,049 thousand and $254 thousand, respectively. During 2014, Bank management determined that it is more likely than not that the deferred tax asset (DTA) will be realized. Therefore, the second quarter and fourth quarter tax expense includes a benefit or income of $2,740 thousand and $117 thousand, respectively related to the reversal of the valuation allowance for deferred tax assets."
Genelle Wrzesinski Joins Pan Pacific Bank As SVP of Operations and Administration
Business Wire - Thu Jan 29, 11:00AM CST
Pan Pacific Bank (OTCBB
PFC) today announced that Genelle Wrzesinski, an executive with a 40-plus year track record of successful operational leadership, recently joined the Bank as Senior Vice President and Operations Administrator. Richard Hagarty Joins Pan Pacific Bank as EVP and Chief Credit Officer
Business Wire - Thu Dec 04, 11:01AM CST
Pan Pacific Bank (OTCBB
PFC) today announced that well-known and respected bank executive Richard "Dick" Hagarty recently joined the Bank as Executive Vice President and Chief Credit Officer. Mr. Hagarty brings nearly 40 years of experience to the Bay Area community banking industry. Pan Pacific Bank Announces Expansion to San Jose
Business Wire - Wed Nov 12, 11:00AM CST
Pan Pacific Bank (OTCBB
PFC) today announced its expansion into San Jose with the opening of its downtown branch at 300 Park Avenue, Suite 100. Founded in 2005 and headquartered in Fremont, California, the bank will offer a full suite of business banking services to the surrounding community. Pan Pacific Bank Announces Year-To-Date Growth in Net Loans 15.5%
Business Wire - Wed Oct 22, 8:02AM CDT
Pan Pacific Bank (OTCBB: PPFC) today announced its unaudited financial results for the quarter ended September 30, 2014, including total assets of $119.1 million, net loans of $88.1 million and deposits of $99.0 million. "Pan Pacific Bank is pleased to report continued positive earnings with net after-tax earnings for the three and nine months ending September 30, 2014, of $56,468 and $2,983,071, respectively," said Wayne Doiguchi, Pan Pacific Bank's CEO. "During the second quarter, Bank management determined that it is more likely than not that the deferred tax asset (DTA) will be realized. Therefore, the second quarter tax expense includes a benefit or income of $2,740,245 related to the reversal of the valuation allowance for deferred tax assets."
Pan Pacific Bank Names Sally Pera to Board of Directors
Business Wire - Tue Sep 30, 11:01AM CDT
Pan Pacific Bank (OTCBB
PFC) today announced that renowned Silicon Valley business connector and executive Sally Pera has joined its Board of Directors. The appointment of Ms. Pera, currently CEO of the Association for Corporate Growth - Silicon Valley (ACGSV), brings the number of Pan Pacific board members to nine. Pan Pacific Bank Announces Recapture of $2.7M Income Related to DTA, Plans for New Branch in San Jose, CA
PR Newswire - Mon Jul 14, 8:35AM CDT
Pan Pacific Bank (OTCBB: PPFC) today announced its unaudited financial results for the quarter ended June 30, 2014, including total assets of $110.3 million, net loans of $82.7 million and deposits of $88.3 million. "Pan Pacific Bank is pleased to report continued positive earnings with net after-tax earnings for the three and six months ending June 30, 2014, of $2,852,637 and $2,926,602, respectively," said Wayne Doiguchi, Pan Pacific Bank's CEO. "During the quarter, Bank management determined that it is more likely than not that the deferred tax asset (DTA) will be realized. Therefore, the second quarter tax expense includes a benefit or income of $2,740,245 related to the reversal of the valuation allowance for deferred tax assets."
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