BBBC Beach Business Bank featured news, full reports, and detailed charts
Beach Business Bank (BBBC/BBBC.OB) Wrap Up:
Beach Business Bank provides banking services to individuals, professionals, entrepreneurs, and small to mid-sized businesses in the United States. It primarily engages in generating deposits and originating loans. The company offers checking and savings, money market, personal savings, certificates of deposit, and individual retirement accounts. Beach Business Bank also provides a range of loans, primarily focusing on commercial loans for businesses; real estate loans for business properties; consumer loans; and small business administration loans. In addition, it offers cash management solutions, leasing, online banking, and online bill paying services. Further, the company serves personal...Beach Business Bank (BBBC:OTC Bulletin Board Market)
Snapshot of Beach Business Bank (BBBC)
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OPEN
$4.50
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PREVIOUS CLOSE
$4.35
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DAY HIGH
$4.65
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DAY LOW
$4.50
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52 WEEK HIGH
02/13/09 - $6.00
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52 WEEK LOW
01/23/09 - $3.75
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MARKET CAP
0.0
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AVERAGE VOLUME 3 mo
851.0
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DILUTED EPS TTM
--
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SHARES OUTSTANDING
0.0
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BBBC Does Not Pay Dividends
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P/E TTM
NM
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BBBC Top Compensated Officers
Executives, Board Directors
Key developments for Beach Business Bank (BBBC)
Beach Business Bank announced unaudited earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net interest income of $2,041,000 against $716,000 a year ago. Loss before provision & taxes was $1,045,000 against income before provision & taxes of $71,000 a year ago. Net loss was $5,895,000 against net income of $41,000 a year ago. Negative return on average assets was 9.08% against positive return on average assets of 0.08% a year ago. Negative return on average equity was 58.12% against positive return on average equity of 0.49% a year ago. For the nine months, the company reported net interest income of $6,411,000 against $6,422,000 a year ago. Loss before provision & taxes was $773,000 against $1,692,000 a year ago. Net loss was $5,693,000 against $3,666,000 a year ago. Negative return on average assets was 2.30% against 1.69% a year ago. Negative return on average equity was 14.24% against 10.07% a year ago. Book value per common share as on September 30, 2009 was $7.10.
Beach Business Bank announced financial results for the second quarter and six months ended June 30, 2009. During the quarter, the bank recorded after tax earnings of $99,000, compared to net loss of $4.045 million for the same period of last year. The bank reported income before provision and taxes of $144,000 on net interest income of $2.155 million compared to loss before provision and taxes of $2.215 million on net interest income of $1.912 million for the same period of last year. The bank reported return on average assets of 0.16% and return on average equity of 0.97% compared to return on average assets of negative 7.38% and return on average equity of negative 42.84% for the same period of last year. Book value per common share was $8.57 as of June 30, 2009 compared to book value per common share of $8.35 as of June 30, 2008. For the six months, the bank recorded after tax earnings of $202,000, compared to net loss of $3.838 million for the same period of last year. The bank reported income before provision and taxes of $272,000 on net interest income of $4.370 million compared to loss before provision and taxes of $1.968 million on net interest income of $4.211 million for the same period of last year. The bank reported return on average assets of 0.08% and return on average equity of 0.51% compared to return on average assets of negative 1.74% and return on average equity of negative 10.19% for the same period of last year. The bank had net charge-offs of $28,325 in the second quarter of 2009.
Beach Business Bank announced earnings results for the first quarter March 31, 2009. For the quarter, the bank reported net income of $103,000 and net income applicable to common stock of $48,000 on net interest income of $2,214,000 compared to net income of $207,000 and net income applicable to common stock of $207,000 on net interest income of $2,299,000 for the same period last year. Return on average assets was 0.18% compared to 0.38% and return on average equity was 1.07% compared to 2.21% reported for the same period a year ago.
BBBC Competitors
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Industry Analysis
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| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 3.8x |
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| Price/Book | -- | Not Meaningful |
| Price/Cash Flow | -- | Not Meaningful |
| TEV/Sales | -- | Not Meaningful |
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More Recent News About Beach Business Bank
More news for BBBC
Beach Business Bank Announces Results for the Quarter and Increased Provisions
MANHATTAN BEACH, CA--(Marketwire - 10/30/09) - Beach Business Bank (OTC.BB:BBBC - News) (the "Bank") reported special charges to earnings to bolster reserves during the quarter ending September 30, 2009. This action was taken in response to the continuing stress in the general economy. At the same time, the Bank showed significant growth in Liquidity and core deposits from the same date last year. Provisions for loan losses of $4,850,000 and charges for OREO reserves and expenses and other credit-related charges of $900,000, resulted in a net loss for the first nine months of the year of ($5.69) million or ($1.41) per common share, compared to loss after provisions of ($3.66) million or ($0.91) per common share in the same period of the prior year. Total deposits of $211.7 million included core deposits (defined as checking, money market, savings accounts, and retail certificates of deposit in amounts less than $100,000) of $183.7 million (86.8%) at September 30, 2009, compared to total deposits of $176.2 million, and core deposits of $135.7 million (77.0%) at September 30, 2008. Gross loans amounted to $193.5 million at September 30, 2009, compared to $187.5 million at September 30, 2008. Non-interest bearing demand deposits totaled $31.6 million at September 30, 2009, compared to $23.7 million at September 30, 2008. Total new loan commitments in the quarter amounted to $10.4 million and $26.8 million for the year to date, and more than $556 million in the period of a little more than 5 years that the Bank has been serving ...Click here to read the whole Article (external link)
Beach Business Bank Chairman Appointed to FDIC Advisory Committee
MANHATTAN BEACH, CA--(Marketwire - 09/18/09) - Beach Business Bank (OTC.BB:BBBC - News) (the "Bank") is pleased to announce that the Federal Deposit Insurance Corporation (FDIC) has appointed the Bank's chairman, Jim Gray, as one of only 14 members on its Advisory Committee on Community Banking, which was established by the FDIC Board of Directors in May. The Advisory Committee members represent a cross-section of community bankers from around the nation, including a member from academia. The Advisory Committee will provide the FDIC with advice and recommendations on a broad range of policy issues that have particular impact on small community banks from around the nation. On September 18, 2009, FDIC Chairman Sheila Bair was quoted as saying, "I look forward to working with the Advisory Committee members on this important endeavor to get valuable contributions and viewpoints to help community banks -- large and small -- to continue to weather the challenging business environment."The 14 individuals selected for the Advisory Committee represent a full spectrum of interests and perspectives on community banking. The FDIC received more than 200 applications from interested individuals to participate on the committee.The committee's first meeting is scheduled for Thursday, October 15, 2009, at FDIC headquarters in Washington, D.C. The committee will meet at least two times a year with Members serving a two-year term.For more information on the Advisory Committee on Community Banking, please visit the FDIC's Web si...Click here to read the whole Article (external link)
Beach Business Bank Reports Earnings for the Second Quarter
MANHATTAN BEACH, CA--(Marketwire - 07/22/09) - Beach Business Bank (OTC.BB:BBBC - News) (the "Bank") is pleased to report its results of operations for the second quarter of 2009. During the quarter, the Bank recorded after tax earnings of $99,000, compared to $103,000 for the prior quarter. The financial results demonstrated 0.75% growth in net loans over the previous quarter, and 13.41% growth in net loans over the same quarter of the prior year. Total new loan commitments in the quarter amounted to approximately $7.5 million. Non-interest bearing demand deposits totaled $30.3 million at quarter end, an increase of 0.9% over the prior quarter end, and an increase of 23.82% over the same period in 2008."We are pleased to report a profitable second quarter and for the year to date. We are gratified to see our growth in core deposits has continued. In view of the troubled economic environment, we strive to be a continual source of stability to our clients as we fulfill all of their banking needs," commented Jim Gray, the Co-Chairman of the Bank's Board of Directors.Robert Franko, President and Chief Executive Officer of the Bank, commented, "We have been particularly pleased with recent new activity at The Doctors Bank(SM) division of the Bank. Since our founding, physicians and dentists have been key deposit and loan clients. They look to The Doctors Bank as a reliable financial partner in this uncertain time."Total assets increased 18.68%, or $38.7 million, to $245.6 million at quarter-end, as compared t...Click here to read the whole Article (external link)
Beach Business Bank Reports Earnings for the First Quarter
Expired Yahoo - Document Has Expired/iw/090427/0494976.html Options that might be of interest: Go to the Yahoo! home page. Go to the Yahoo! Finance home page. Go to the Yahoo! Loan Center. Go to the Yahoo! Insurance Center. Other resources: Message Boards - Stock Chat - Finance Clubs ...Click here to read the whole Article (external link)
Maggie Hender Joins Beach Business Bank
Expired Yahoo - Document Has Expired/iw/090415/0491509.html Options that might be of interest: Go to the Yahoo! home page. Go to the Yahoo! Finance home page. Go to the Yahoo! Loan Center. Go to the Yahoo! Insurance Center. Other resources: Message Boards - Stock Chat - Finance Clubs ...Click here to read the whole Article (external link)
Beach Business Bank Reports Earnings for the Fourth Quarter
MANHATTAN BEACH, CA--(MARKET WIRE)--Jan 29, 2009 -- Beach Business Bank (OTC BB:BBBC.OB - News) (the "Bank") is pleased to report its results of operations for the fourth quarter of 2008 and the year ended December 31, 2008.During the quarter, the Bank recorded after tax earnings of $290,000, an increase of $118,000 from the prior quarter. The financial results demonstrated 6.1% growth in net loans over the previous quarter, and 3.7% growth in net loans over the same quarter of the prior year. Total new loan commitments in the quarter amounted to more than $24 million. Non-interest bearing demand deposits totaled $31.8 million at quarter end, an increase of 34.4% over the prior quarter end, and an increase of 63.0% over the same period in 2007."While we find these economic conditions to be unprecedented in recent memory," commented Jim Gray, the co-chairman of the Bank's board of directors, "we are very pleased to be able to report improved quarterly earnings for the fourth quarter of 2008. We are also pleased that our loan portfolio grew during this very challenging quarter. We continue to be a source of strength to our business clients."Robert Franko, president and chief executive officer of the Bank, commented, "We have also seen a meaningful increase in our demand deposit base, now that 100% of the Bank's demand deposit balances are insured by the FDIC under the Transaction Account Guarantee Program. We are pleased to report that the Bank qualified for the US Treasury Capital Purchase Plan ("CPP"). The CPP positions us to be even more flexible in providing loans to small businesses in the communities that we serve. ...Click here to read the whole Article (external link)
Beach Business Bank Receives Preliminary Approval for TARP Capital Purchase Program
MANHATTAN BEACH, CA--(MARKET WIRE)--Dec 29, 2008 -- Beach Business Bank (OTC BB:BBBC.OB - News) (the "Bank") is pleased to announce that the US Treasury Department ("Treasury") has preliminarily approved the Bank's application to participate in the Capital Purchase Program in the approximate amount of $6 million. The Bank is in the process of completing the associated purchase documentation and expects that the sale of preferred shares and warrants to the Treasury will be completed sometime during the month of January 2009, subject to final acceptance by the Treasury.Beach Business Bank is headquartered at 1230 Rosecrans Avenue, Lobby Level, in Manhattan Beach, and has a second full-service office at 180 E. Ocean Blvd. in Long Beach, CA. For more information on the Bank, please visit www.beachbusinessbank.com or call 866-862-3878 or 310-536-2260; in Long Beach, call 562-435-8600."Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:The financial information in this press release is based on our unaudited financial results. Certain statements in this press release, including statements regarding the anticipated development and expansion of the Bank's business, and the intent, belief, and current expectations of the Bank, its directors, or its officers, are "forward-looking" st...Click here to read the whole Article (external link)