PACIFIC MERCANTILE BANCORP PMBC Income Statement

Pacific mercantile bancorp (PMBC)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Interest income:
Loans, including fees
59,348	57,626	48,957	38,580	36,717	36,344	33,819	35,934	38,947	45,887	47,482
Securities available for sale and stock
1,065	1,160	1,237	1,578	-	-	-	-	-	-	-
Securities available for sale and stock
-	-	-	-	1,710	1,613	1,599	2,214	3,949	4,564	3,661
Interest-bearing deposits with financial institutions
5,264	3,756	1,379	842	370	333	233	278	211	468	501
Total interest income
65,677	62,542	51,573	41,000	38,797	38,290	35,651	38,426	43,107	50,919	51,644
Interest expense:
Deposits
14,282	12,070	6,958	4,820	4,559	4,817	4,421	6,941	9,737	15,483	22,316
Borrowings
1,839	1,550	873	657	710	1,012	896	1,108	1,321	2,598	7,567
Total interest expense
16,121	13,620	7,831	5,477	5,269	5,829	5,317	8,049	11,058	18,081	29,883
Net interest income
49,556	48,922	43,742	35,523	33,528	32,461	30,334	30,377	32,049	32,838	21,761
Provision for loan and lease losses
9,150	0	0	19,870	0	1,500	4,505	1,950	-833	8,288	23,673
Net interest income after provision for loan and lease losses
40,406	48,922	43,742	15,653	33,528	30,961	25,829	28,427	32,882	24,550	-1,912
Noninterest income
Service fees on deposits and other banking services
1,782	1,549	1,347	1,093	-	-	-	-	-	-	-
Total other-than-temporary impairment of securities
-	-	-	-	-	-	-	-131	41	95	829
Less: portion of other-than-temporary impairment losses recognized in other comprehensive loss
-	-	-	-	-	-	-	208	128	191	-704
Net impairment loss recognized in earnings
-	-	-	-	-	-	-	77	169	286	125
Service fees on deposits and other banking services
-	-	-	-	918	896	801	895	997	1,207	1,486
Gain (Loss) on Investments
0	48	-4	0	0	-	-	-	-	-	-
Mortgage banking (including net gains on sales of loans held for sale)
-	-	-	-	-	-	-	-	-	3,741	917
Net gains on sale of securities available for sale
-	-	-	-	-	-	44	2,123	405	1,530	2,308
Net gain on sale of Small Business Administration loans
1,029	0	0	40	0	2,074	0	0	0	-	-
Net gain (loss) on sale of other assets
-42	-4	-37	-527	-58	0	-	-	-	-	-
Net (loss) gain on sale of other real estate owned
-	-	-	-	-	-	-	-	158	-64	-72
Other noninterest income
2,819	3,042	3,068	2,331	1,826	1,400	348	821	713	643	1,008
Total noninterest income
5,588	4,635	4,374	2,937	2,686	4,370	1,193	3,762	2,104	6,771	5,522
Noninterest expense
Salaries and employee benefits
23,411	23,749	22,977	21,817	22,002	22,571	19,585	14,960	11,805	15,345	15,845
Occupancy
2,553	2,388	2,605	3,061	2,871	2,499	2,234	1,844	1,971	2,668	2,713
Equipment and depreciation
1,884	1,802	1,687	1,802	1,652	1,541	1,609	1,421	1,177	1,277	1,268
Data processing
2,184	1,681	1,479	1,271	1,035	931	786	745	665	684	815
FDIC expense
427	927	1,073	950	1,250	1,336	1,769	2,319	2,226	3,753	2,391
Other real estate owned expense, net
69	123	0	-70	-	-	-	-	-	-	-
Other real estate owned expense, net
-	-	-	-	365	1,962	3,233	6,982	3,126	2,772	2,233
Professional fees
3,982	2,468	4,215	4,046	2,514	2,434	2,936	4,328	3,864	4,752	3,917
Provision for (recovery of) contingencies
-	-	-	-	-	-	-	14	-	-	-
Provision for (recovery of) contingencies
-	-	-	-	-	-	-	-	1,625	550	628
Mortgage related loan expense
-	-	-	-	-	-	-	-	-	484	-
Business development
803	946	729	795	488	262	340	671	77	-	-
Loan related expense
639	769	456	375	414	532	355	258	-	-	-
Advertising
-	-	-	-	-	-	-	-	100	-	-
Insurance
245	248	221	291	341	484	578	508	471	-	-
Other operating expense
1,982	1,869	2,316	2,063	2,392	2,256	2,921	2,420	2,587	4,032	3,441
Total noninterest expense
38,179	36,970	37,758	36,401	35,324	36,808	36,346	36,470	29,694	36,317	33,251
Income (loss) before income taxes
7,815	16,587	10,358	-17,811	890	-1,477	-9,324	-4,281	5,292	-4,996	-29,641
Income tax provision (benefit)
2,135	-10,800	-91	16,832	-11,551	-608	5,600	-6,920	-6,425	8,958	-12,333
Net (loss) income from continuing operations
-	-	-	-	-	-869	-14,934	2,639	11,717	-	-
Income from discontinued operations before income taxes
-	-	-	-	-	1,937	-7,721	10,971	-93	-	-
Income tax provision
-	-	-	-	-	711	-439	3,956	-8	-	-
Net income from discontinued operations
-	-	-	-	-	1,226	-7,282	7,015	-85	-	-
Net income (loss) allocable to common shareholders
5,680	27,339	10,449	-34,643	12,441	357	-22,216	9,654	11,632	-13,954	-17,308
Accumulated dividends on preferred stock
-	-	-	-	-	-	-	-	-	-	61
Dividends on preferred stock
-	-	-	-	927	0	0	-	-	-	-
Inducements for exchange of the preferred stock
-	-	-	-	512	0	0	-	-	-	-
Net income allocable to common shareholders
-	-	-	-	11,002	-806	-23,298	8,696	11,192	-15,029	-17,369
Basic income (loss) per common share:
Net (loss) income from continuing operations (in dollars per common share)
-	-	-	-	-	-0.11	-0.88	0.11	0.99	-	-
Net income (loss) allocable to common shareholders (in dollars per share)
0.24	1.17	0.45	-1.51	0.54	-0.04	-1.28	0.57	0.99	-1.44	-1.66
Diluted income (loss) per common share:
Net (loss) income from continuing operations (in dollars per common share)
-	-	-	-	-	-0.11	-0.88	0.15	0.99	-	-
Net income (loss) allocable to common shareholders (in dollars per share)
0.24	1.16	0.45	-1.51	0.53	-0.04	-1.28	0.55	0.98	-1.44	-1.66
Weighted average number of common shares outstanding:
Basic (in shares)
22,811	22,788	23,072	22,802	20,516	19,230	18,240	15,386	11,361	10,434	10,434
Diluted (in shares)
23,631	23,527	23,312	22,959	20,675	19,230	18,240	17,674	11,371	10,434	10,434