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Pacific West Bank (PWBO) news stock charts

Pacific West Bank (PWBO/PWBO.OB) Investment Summary:

Pacific West Bank provides banking products and services to small- to medium-sized businesses and individuals in West Linn, Oregon. It engages in generating deposits and originating loans. The company’s deposit products include checking accounts, interest checking accounts, savings accounts, money market accounts, certificates of deposits, sweep accounts, and individual retirement accounts. Its loan portfolio comprises home equity lines of credit, home mortgage loans, secured consumer auto loans, professional lines of credit, overdraft protection, working capital lines of credit, commercial real estate term loans, equipment term loans, construction loans, government guaranteed loans, and lan...
www.bankpacificwest.com

PACIFIC WEST BANK (PWBO:OTC Bulletin Board Market)

LAST $2.35 USD
CHANGE TODAY 0.00 0.00%
VOLUME 0.0
As of 4:30 PM 12/31/09 All times are local (Market data is delayed by at least 15 minutes).

Snapshot of PACIFIC WEST BANK (PWBO)

OPEN
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PREVIOUS CLOSE
$2.35
DAY HIGH
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DAY LOW
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52 WEEK HIGH
04/13/09 - $6.00
52 WEEK LOW
11/30/09 - $2.00
MARKET CAP
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AVERAGE VOLUME 10 D
0.0
EPS TTM
--
SHARES OUTSTANDING
0.0
PWBO Does Not Pay Dividends
P/E TTM
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K = Thousands  M = Millions  B = Billions

Key developments for PACIFIC WEST BANK (PWBO)

Pacific West Bank Appoints Greg Froman as Chief Credit Officer and Executive Vice President

Greg Froman has joined Pacific West Bank as chief credit officer and executive vice president. Froman will manage all facets of the bank's credit administration and loan production functions.

Pacific West Bank Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2009

Pacific West Bank reported unaudited earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported interest and fee income of $982,000, net interest income of $620,000, net interest income after provision for loan losses of $545,000, loss before provision for income taxes of $56,000, net loss of $35,000, or $0.04 per diluted share compared to interest and fee income of $1,018,000, net interest income of $619,000, net interest income after provision for loan losses of $559,000, income before provision for income taxes of $18,000, net income of $11,000, or $0.01 per diluted share for the same period last year. The company reported return on average assets in negative of 0.19% and return on average equity in negative of 1.82% compared to return on average assets of 0.07% and return on average equity of 0.57% for the same period last year. The current quarter loss was primarily due to a decline in net interest margin and an increase in noninterest expense. For the nine months, the company reported interest and fee income of $2,947,000, net interest income of $1,773,000, net interest income after provision for loan losses of $852,000, loss before provision for income taxes of $976,000, net loss of $593,000, or $0.78 per diluted share compared to interest and fee income of $2,762,000, net interest income of $1,681,000, net interest income after provision for loan losses of $1,501,000, income before provision for income taxes of $97,000, net income of $59,000, or $0.08 per diluted share for the same period last year. The company reported return on average assets in negative of 1.13% and return on average equity in negative of 10.50% compared to return on average assets of 0.15% and return on average equity of 1.03% for the same period last year. The year-to-date loss was primarily due to a significant increase in the provision for loan losses, a decline in net interest margin and an increase in noninterest expense.

Pacific West Bank Announces Executive Changes

Doug Leeding, Chief Executive Officer of Pacific West Bank announced his retirement from the bank he helped found in 2004. Leeding has been involved in local banking for 34 years. His retirement is part of the bank's strategic management succession plan implemented in 2008. He will continue to serve the bank in an advisory capacity through the end of the year and remain on the Board of Directors. Steve Gray was promoted from President to President and Chief Executive Officer. Gray became President in mid-2008 after serving as Chairman of the Board and has worked with Leeding toward a smooth transition. Both Leeding and Gray are charter founders of the local bank. Gray's previous business experience includes working as an auditor with an international CPA firm and serving as Corporate Controller at Microsoft. Gray is a past officer and board member of several West Linn community organizations.

Pacific West Bank financial resources

otc, otcbb, pinksheet, PWBO, ob Pacific West Bank

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More Recent Financial News About Pacific West Bank

Pacific West Bank Reports Third Quarter 2009 Financial Results

Quote: The year-to-dateincrease in noninterest expense is primarily due to increased ongoingoperating expenses resulting from the relocation of our main office inWest Linn and the opening of a branch office in Lake Oswego, as well assignificantly higher FDIC deposit insurance assessments.BANK RESTATES SECOND QUARTER 2009 FINANCIAL RESULTSAs a result of an ongoing regulatory examination, the Bank restated itssecond quarter 2009 financial results to reflect the followingadjustments:Restated financial sta...
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Pacific West Bank Reports Third Quarter 2009 Financial Results

Quote: The year-to-dateincrease in noninterest expense is primarily due to increased ongoingoperating expenses resulting from the relocation of our main office inWest Linn and the opening of a branch office in Lake Oswego, as well assignificantly higher FDIC deposit insurance assessments.BANK RESTATES SECOND QUARTER 2009 FINANCIAL RESULTSAs a result of an ongoing regulatory examination, the Bank restated itssecond quarter 2009 financial results to reflect the followingadjustments:Restated financial sta...
Read article

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