PVBK Pacific Valley Bank featured news, full reports, and detailed charts
Pacific Valley Bank (PVBK/PVBK.OB) Wrap Up:
Pacific Valley Bank provides various banking products and services. It offers checking and savings deposits, as well as provides commercial real estate loans, construction and land loans, agricultural loans, one to four family residential loans, commercial and industrial loans, government guaranteed loans, and consumer loans. The company also provides gift cards, credit cards, notary public, and other customary bank services. It serves small and medium sized businesses, agriculture related businesses, non-profit organizations, professionals, and individuals. As of December 31, 2007, Pacific Valley Bank operated five branches in Salinas, King City, Hollister, and Monterey. The company was fou...www.pacificvalleybank.com
41 Employees
Founded in 2004
Pacific Valley Bank (PVBK:OTC Bulletin Board Market)
LAST $6.90 USD
CHANGE TODAY +0.85 14.05%
VOLUME 1.0K
As of 3:43 PM 11/20/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of Pacific Valley Bank (PVBK)
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OPEN
$6.90
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PREVIOUS CLOSE
$6.05
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DAY HIGH
$6.90
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DAY LOW
$6.90
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52 WEEK HIGH
03/11/09 - $10.01
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52 WEEK LOW
12/30/08 - $2.50
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MARKET CAP
0.0
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AVERAGE VOLUME 3 mo
25.0
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DILUTED EPS TTM
--
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SHARES OUTSTANDING
0.0
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PVBK Does Not Pay Dividends
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P/E TTM
NM
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PVBK Top Compensated Officers
No compensation data is available at this time for the top officers at this company.
Executives, Board Directors
Key developments for Pacific Valley Bank (PVBK)
Pacific Valley Bank Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2009
08/14/2009
Pacific Valley Bank reported unaudited earnings results for the second quarter and six months ended June 30, 2009. The Bank recorded a net loss of $1,212,000 or $0.49 per share for the quarter ended June 30, 2009 as compared to a net loss of $552,000 or $0.29 per share in the same quarter last year. Net interest income was lower $179,000 as a decrease in yields on earning assets coupled with a higher level of nonaccrual loans more than offset a favorable $59,000 decrease in interest expense due mostly to lower rates paid on interest-bearing liabilities. Net interest income before allowance for loan losses for the quarter ended June 30, 2009 was $1,474,000 which was a decrease of $179,000 from the quarter ended June 30, 2008. Interest income for the quarter ended June 30, 2009 was $2,389,000 which was a decrease of $238,000 from the year earlier period. Interest was down for all classes of earning assets mostly due to lower yields earned on those assets. For the first half of 2009, the Bank had a net loss of $2,432,000 or $1.00 per share as compared to a net loss of $1,030,000 or $0.53 per share in 2008. Year-to-date net interest income increased $89,000 as lower rates paid on interest-bearing liabilities more than offset a decrease in interest income. For the six-month period ended June 30, 2009, the net interest income was $3,178,000 for an increase of $89,000 from the year earlier period. For the six-month periods interest income was $4,988,000 in 2009 and $5,186,000 in 2008. The decrease in yields offset the gains from higher average balances.
Pacific Valley Bank Reports Restated Earnings Results for the First Quarter of 2009
08/3/2009
Pacific Valley Bank reported restated earnings results for the first quarter of 2009. For the quarter, the Bank will recognize a loss of $1,220,300 or $0.52 per share for the first quarter of 2009 as compared to previously reported earnings of $129,700 or $0.06 per basic share.
Pacific Valley Bank Announces Changes to Board of Directors
06/2/2009
Pacific Valley Bank annual meeting of shareholders held May 28, 2009, the shareholders elected three new board members and five continuing members to serve on the Board for the next year. The new members are Mr. Anthony M. Cosentino, Mr. Guillermo Nieto, Sr. and Mr. Peter K. Shah. All three are long time residents of Monterey County and were original founders of the Bank. The outgoing directors are Mr. Steven D. Bassi, Mr. Louis H. Huntington, Jr., Mr. Jon R. Moore, Mr. Guillermo Nieto, Jr. and Mr. Ben A. Tinkey.
PVBK Competitors
| Company | Last | Change | |
| No competitor information is available for PVBK. | |||
| Market data is delayed at least 20 minutes. | |||
Industry Analysis
| Valuation | PVBK | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 3.8x |
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| Price/Book | 1.0x |
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| Price/Cash Flow | -- | Not Meaningful |
| TEV/Sales | -- | Not Meaningful |
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PVBK |
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PVBK transactions
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Target |
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Private Placement
August 21, 2009 |
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More Recent News About Pacific Valley Bank
More news for PVBK
Pacific Valley Bank Announces $2.0 Million Private Placement Offering of Common Stock
SALINAS, CA--(Marketwire - 08/21/09) - Pacific Valley Bank (OTC.BB:PVBK - News) announces that its Board of Directors today authorized a private placement offering ("Offering") for up to $2.0 million, with an over subscription option equal to 20% over the offering maximum, of the Bank's shares of common stock (the "Common Stock") to accredited investors, in order to increase the Bank's capital which will (i) allow for growth, (ii) enhance the Bank's capital position, (iii) increase the Bank's lending limits, and (iv) may be used for other general corporate purposes. The Offering is subject to receipt of all necessary regulatory approvals, including the issuance of a stock permit from the California Department of Financial Institutions. Pacific Valley Bank expects to commence the Offering before the end of the third quarter 2009. An offering price of $7.00 per share has been independently established by the Board of Directors, who took into consideration several factors, including the book value of the Bank's Common Stock, the Bank's results of operations, analysis of historical growth and growth potential of the Bank in the Bank's market area, assessment of the Bank's management, information received from consultants to the Bank, its financial condition and stock prices of peer banks.The Offering is for a maximum of up to 285,715 shares, with an over subscription option equal to 20% over the maximum number of shares (the "Shares") of the Common Stock, no par value.About Pacific Valley BankPacific Valley Bank...Click here to read the whole Article (external link)
Pacific Valley Bank Reports Its Unaudited Financial Results for the 2nd Quarter Ended June 30, 2009
SALINAS, CA--(Marketwire - 08/14/09) - Pacific Valley Bank (OTC.BB:PVBK - News) today announced its unaudited financial results for the quarter and the six months ended June 30, 2009. The Bank recorded a net loss of $1,212,000 or $0.49 per share for the quarter ended June 30, 2009 as compared to a net loss of $552,000 or $0.29 per share in the same quarter last year. Net interest income was lower $179,000 as a decrease in yields on earning assets coupled with a higher level of nonaccrual loans more than offset a favorable $59,000 decrease in interest expense due mostly to lower rates paid on interest-bearing liabilities. The provision for loan losses decreased $416,000 from the second quarter of 2008. However, this favorable variance was more than offset by an $865,000 increase in noninterest expenses. The Bank incurred approximately $1,009,000 of nonrecurring and abnormal recurring expenses related to the relocation of its headquarters in Salinas, a write down of an OREO property, the accrual of the special FDIC insurance assessment and a change in timing of the accrual for ongoing FDIC insurance premiums. For the first half of 2009, the Bank had a net loss of $2,432,000 or $1.00 per share as compared to a net loss of $1,030,000 or $0.53 per share in 2008. Year-to-date net interest income increased $89,000 as lower rates paid on interest-bearing liabilities more than offset a decrease in interest income. The Bank provided $1,584,000 for the allowance for loan losses an increase of $751,000 over 2008. Overall the Bank has ...Click here to read the whole Article (external link)
Pacific Valley Bank Announces Restatement of 1st Quarter 2009 Earnings
SALINAS, CA--(Marketwire - 08/03/09) - Pacific Valley Bank (OTC.BB:PVBK - News) today announced that it will restate its 1st quarter 2009 financial statements following a recent regulatory examination. Prior to the examination, in May 2009, as part of its ongoing review of the Bank's loan portfolio management determined that there was deterioration in the performance and credit worthiness in several specific loans and the portfolio in general due to the continuing weakness in the local and national economy. Based on this review the Bank recorded a provision of $1,500,000 to the allowance for loan losses. The Bank calculated this provision in accordance with its loan policies, its allowance for loan loss methodology and generally accepted accounting principles.Following a recent regulatory examination conducted in June 2009, the Bank's regulatory agencies concluded that they did not have any issues as to the amount of the allowance for loan losses at May 31, 2009. The regulatory agencies believed that due to certain performance issues in the loan portfolio, management should have recorded $1,350,000 of the provision in the first quarter of 2009. They recommended that management consider accelerating the recording of this amount back into the first quarter. Although the Bank believes it correctly recognized the increase in its allowance in the second quarter in accordance with Generally Accepted Accounting Principles, the Bank has agreed to recognize $1,350,000 of the increase in the allowance for loan losses in the first...Click here to read the whole Article (external link)
Pacific Valley Bank Announces Changes to Board of Directors
Expired Yahoo - Document Has Expired/iw/090602/0507164.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)
Pacific Valley Bank Reports Its Financial Results for the 1st Quarter Ended March 31, 2009
Expired Yahoo - Document Has Expired/iw/090501/0496740.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)
Pacific Valley Bank Announces Additions to Senior Management
Pacific Valley Bank (OTC.BB: PVBK) Rodney Braga, Chairman of the Board of Directors, today announced additions to the management team at Pacific Valley Bank. "We are delighted to be able to announce that David B. Warner has been appointed CEO and a member of the Board of Directors, effective March 1, 2009, and that Tom Van der Ploeg has joined us as Executive Vice President and Chief Credit Officer, effective February 15, 2009. In conjunction with these additions, we are equally pleased to confirm that Ben Tinkey, one of the founders of the Bank and member of the original management team, will continue to serve as President.""We believe that Pacific Valley Bank now has one of the strongest management teams among the banks headquartered on the Central Coast, and we are confident about our ability to continue to build a strong and resourceful bank," added Mr. Braga.Mr. Warner's banking career began with an extended period in Asia as an officer of the First National Bank of Chicago, serving in Singapore, Hong Kong and South Korea. More recently, he has been involved in community banking in both northern and southern California. From October 2004 to April 2008 he was an organizer, Director, President and CEO of Premier Business Bank in Los Angeles. Mr. Warner presided over the bank as it grew to total assets of $88 million in the 20th month of operations. Concurrently, from May 2004 to April 2005, he was a Director of Redwood Empire Bancorp in Santa Rosa. Prior to his engagement with Premier Business Bank, he served on the Board of Directors and later as President and CEO of Pacific Union Bank Los Angeles, from May 2002-May 2004. Pacific Union Bank had assets of $1.0 billion when it was sold in April 2004. Mr. Warner has been assisting Pacific Valley Bank since November 2008 as a consultant.Mr. Ben Tinkey has deep roots in the local...Click here to read the whole Article (external link)
Pacific Valley Bank Announces an Increase in Capital and Reports Its Unaudited Financial Results for the Year Ended December 31, 2008
Pacific Valley Bank (OTC.BB: PVBK) announced today the completion of a private placement of common stock that has raised $3,954,000 in new capital. The new shares have been purchased by directors and management of the Bank. "When the private placement was initially announced in November 2008, the goal was to raise $2,350,000. We are extremely pleased that the Bank has been able to exceed the original target for supplementing the capital of the Bank," said Ben Tinkey, President. "And we are delighted that our Board has demonstrated its commitment to our success through their increased investment in the Bank." With the initial tranche of the private placement completed in the fourth quarter of 2008, the Bank had total capital at December 31, 2008 of $18,203,000, which resulted in a Tier 1 Capital to Average Assets Ratio of 9.17% and Total Risk Based Capital to Risk Weighted Assets Ratio of 12.06%. Pacific Valley Bank also released its unaudited financial results for the year ended December 31, 2008. The Bank reported total assets of $192,725,000 at December 31, 2008, an increase of $31,940,000 (19.9%) from year end 2007. Loans totaled $153,510,000 at December 31, 2008, an increase of $45,745,000 (42.4%) from year end 2007. The loan growth occurred primarily in the first half of the year as management chose to limit loan growth in the second half of the year in light of the broad economic slowdown. Deposits totaled $155,189,000 at December 31, 2008, an increase of $15,987,000 (11.5%) from year end 2007."We are grateful for the strong community support of Pacific Valley Bank which allowed us to achieve our target level of loans and continue to steadily build our deposit base through this challenging and difficult period for our local communities and the nation's economy," said Ben Tinkey.The Bank incurred a net loss of $2,352,000 in 2008 a...Click here to read the whole Article (external link)
Pacific Valley Bank Announces Additions to Senior Management
Pacific Valley Bank (OTC.BB: PVBK) Rodney Braga, Chairman of the Board of Directors, today announced additions to the management team at Pacific Valley Bank. "We are delighted to be able to announce that David B. Warner has been appointed CEO and a member of the Board of Directors, effective March 1, 2009, and that Tom Van der Ploeg has joined us as Executive Vice President and Chief Credit Officer, effective February 15, 2009. In conjunction with these additions, we are equally pleased to confirm that Ben Tinkey, one of the founders of the Bank and member of the original management team, will continue to serve as President.""We believe that Pacific Valley Bank now has one of the strongest management teams among the banks headquartered on the Central Coast, and we are confident about our ability to continue to build a strong and resourceful bank," added Mr. Braga.Mr. Warner's banking career began with an extended period in Asia as an officer of the First National Bank of Chicago, serving in Singapore, Hong Kong and South Korea. More recently, he has been involved in community banking in both northern and southern California. From October 2004 to April 2008 he was an organizer, Director, President and CEO of Premier Business Bank in Los Angeles. Mr. Warner presided over the bank as it grew to total assets of $88 million in the 20th month of operations. Concurrently, from May 2004 to April 2005, he was a Director of Redwood Empire Bancorp in Santa Rosa. Prior to his engagement with Premier Business Bank, he served on the Board of Directors and later as President and CEO of Pacific Union Bank Los Angeles, from May 2002-May 2004. Pacific Union Bank had assets of $1.0 billion when it was sold in April 2004. Mr. Warner has been assisting Pacific Valley Bank since November 2008 as a consultant.Mr. Ben Tinkey has deep roots in the local...Click here to read the whole Article (external link)
Pacific Valley Bank Announces an Increase in Capital and Reports Its Unaudited Financial Results for the Year Ended December 31, 2008
Pacific Valley Bank (OTC.BB: PVBK) announced today the completion of a private placement of common stock that has raised $3,954,000 in new capital. The new shares have been purchased by directors and management of the Bank. "When the private placement was initially announced in November 2008, the goal was to raise $2,350,000. We are extremely pleased that the Bank has been able to exceed the original target for supplementing the capital of the Bank," said Ben Tinkey, President. "And we are delighted that our Board has demonstrated its commitment to our success through their increased investment in the Bank." With the initial tranche of the private placement completed in the fourth quarter of 2008, the Bank had total capital at December 31, 2008 of $18,203,000, which resulted in a Tier 1 Capital to Average Assets Ratio of 9.17% and Total Risk Based Capital to Risk Weighted Assets Ratio of 12.06%. Pacific Valley Bank also released its unaudited financial results for the year ended December 31, 2008. The Bank reported total assets of $192,725,000 at December 31, 2008, an increase of $31,940,000 (19.9%) from year end 2007. Loans totaled $153,510,000 at December 31, 2008, an increase of $45,745,000 (42.4%) from year end 2007. The loan growth occurred primarily in the first half of the year as management chose to limit loan growth in the second half of the year in light of the broad economic slowdown. Deposits totaled $155,189,000 at December 31, 2008, an increase of $15,987,000 (11.5%) from year end 2007."We are grateful for the strong community support of Pacific Valley Bank which allowed us to achieve our target level of loans and continue to steadily build our deposit base through this challenging and difficult period for our local communities and the nation's economy," said Ben Tinkey.The Bank incurred a net loss of $2,352,000 in 2008 a...Click here to read the whole Article (external link)
Pacific Valley Bank Reports Its Financial Results for the 3rd Quarter and Nine Months Ended September 30, 2008
SALINAS, CA--(MARKET WIRE)--Dec 8, 2008 -- Pacific Valley Bank (OTC BB:PVBK.OB - News) released its unaudited 2008 third quarter financial results. Summary of Pacific Valley Bank's Financial Results for the 3rd Quarter and Nine Months ended September 30, 2008The Bank reported total assets of $193,130,000 at September 30, 2008, an increase of $1,101,000 from June 30, 2008. Loans totaled $160,539,700 at quarter end, an increase of $2,416,300 from June 30, 2008. Deposits totaled $151,142,100, an increase of $929,700 from June 30, 2008.Since December 31, 2007, assets have increased by $32,345,900 (20.1%). Included in this change is a 49% increase in loans of $52,774,900, which was funded by a decrease in cash and investments of $16,382,000, an increase in deposits of $11,939,700 and an increase in borrowings of $21,300,000.The Bank incurred a net loss of $67,700 in the third quarter of 2008, which was an improvement of $873,700 over the third quarter loss of $941,400 in 2007. The loss per share was $0.04 as compared to $0.49 in the third quarter of 2007. The significant decrease in the net loss for the third quarter was due to an improvement in net interest income of $509,300, a reduction of $123,400 in the provision for loan losses, an improvement in noninterest income due mostly to a sale of SBA loans that generated $200,200 in non-interest income, and staff reductions that helped to stabilize overall non-interest expenses at prior year levels.For the nine-month periods ended September 30, 2008 and 2007, the net ...Click here to read the whole Article (external link)
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