Pacific West Bancorp Q2 Net Income Surges 190% on Fee Income, Loan Growth
PWBK sits 66% above its 52-week low of $7.45 on light trading volume (0.1× avg).
Summary
Pacific West Bancorp reported Q2 net income of $450,000, a 190% jump from the prior quarter, driven by a 79% surge in non-interest income from depository network fees and service charges. Loan interest income also grew as borrowers renewed at market rates, while merger expenses partially offset gains. Total assets rose 16% year-over-year to $420 million, with deposits up 19%. The stock is trading near its 52-week high of $12.80, reflecting improving fundamentals. No forward guidance was provided, leaving the trajectory dependent on sustained fee income and loan repricing.
At the time of this announcement, PWBK was trading at $12.35 on OTC in the Finance sector, with a market capitalization of approximately $33.4M. The 52-week trading range was $7.45 to $12.80. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.