PACIFIC MERCANTILE BANCORP PMBC Income Statement

Pacific mercantile bancorp (PMBC)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest income:
Loans, including fees
13,787	15,196	15,046	14,586	14,520	14,895	13,898	14,788	14,045	13,029	13,386	11,544	10,998	9,880	9,998	9,254	9,448	9,357	9,166	9,175	9,019	9,714	9,185	8,652	8,793	8,844	8,422	8,266	8,287	5,900	10,769	9,887	9,378	8,489	10,005	10,291	10,162	11,368	11,725
Securities available for sale and stock
261	256	257	260	292	359	265	262	274	308	304	283	342	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Securities available for sale and stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	356	369	349	390	389	558	373	396	397	403	417	419	423	387	370	543	402	392	877	672	879	1,125	1,273	790	1,074
Interest-bearing deposits with financial institutions
721	825	1,464	1,620	1,355	1,141	1,055	864	696	475	335	305	264	229	244	212	157	113	98	80	79	95	82	79	77	31	32	75	95	-54	203	74	55	85	59	41	26	147	132
Total interest income
14,769	16,277	16,767	16,466	16,167	16,395	15,218	15,914	15,015	13,812	14,025	12,132	11,604	10,613	10,598	9,835	9,954	9,860	9,653	9,813	9,471	10,205	9,664	9,134	9,287	9,294	8,877	8,728	8,752	6,389	11,374	10,353	10,310	9,246	10,943	11,457	11,461	12,305	12,931
Interest expense:
Deposits
2,965	3,277	3,628	3,753	3,624	3,339	3,171	3,082	2,478	2,166	1,845	1,571	1,376	1,308	1,240	1,186	1,086	1,148	1,142	1,144	1,125	1,203	1,204	1,225	1,185	932	976	1,148	1,365	1,162	1,829	1,898	2,052	2,268	2,465	2,507	2,497	3,822	4,119
Borrowings
331	457	396	494	492	455	358	385	352	376	175	165	157	154	169	169	165	133	200	180	197	322	149	283	258	250	214	209	223	268	286	311	243	307	298	358	358	564	594
Total interest expense
3,296	3,734	4,024	4,247	4,116	3,794	3,529	3,467	2,830	2,542	2,020	1,736	1,533	1,462	1,409	1,355	1,251	1,281	1,342	1,324	1,322	1,525	1,353	1,508	1,443	1,182	1,190	1,357	1,588	1,430	2,115	2,209	2,295	2,575	2,763	2,865	2,855	4,386	4,713
Net interest income
11,473	12,543	12,743	12,219	12,051	12,601	11,689	12,447	12,185	11,270	12,005	10,396	10,071	9,151	9,189	8,480	8,703	8,579	8,311	8,489	8,149	8,680	8,311	7,626	7,844	8,112	7,687	7,371	7,164	4,959	9,259	8,144	8,015	6,671	8,180	8,592	8,606	7,919	8,218
Provision for loan and lease losses
6,200	3,750	2,100	0	3,300	0	0	0	0	0	0	0	0	0	10,730	8,720	420	0	0	0	0	0	450	600	450	3,355	0	0	1,150	0	500	1,850	-400	-	-	-	-	1,688	4,600
Net interest income after provision for loan and lease losses
5,273	8,793	10,643	12,219	8,751	12,601	11,689	12,447	12,185	11,270	12,005	10,396	10,071	9,151	-1,541	-240	8,283	8,579	8,311	8,489	8,149	8,680	7,861	7,026	7,394	4,757	7,687	7,371	6,014	4,959	8,759	6,294	8,415	7,504	8,180	8,592	8,606	6,231	3,618
Noninterest income
Service fees on deposits and other banking services
522	478	463	443	398	373	382	407	387	-	346	332	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total other-than-temporary impairment of securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-156	0	0	25	5	131	-54	-41	139	1,912
Less: portion of other-than-temporary impairment losses recognized in other comprehensive loss
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	156	0	0	52	-5	-77	117	93	-87	-1,712
Net impairment loss recognized in earnings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	77	0	54	63	52	52	200
Service fees on deposits and other banking services
-	-	-	-	-	-	-	-	-	-	-	-	308	-	279	267	255	242	230	234	212	263	207	218	208	203	206	196	196	208	209	245	233	234	239	251	273	278	313
Gain (Loss) on Investments
-	-	0	0	-	0	0	0	48	-4	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Mortgage banking (including net gains on sales of loans held for sale)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,168	8,450	4,531	-	1,425	1,328	839	1,113	1,061
Net gains on sale of securities available for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	21	0	23	0	937	0	1,186	0	365	29	11	780	198
Net gain on sale of Small Business Administration loans
0	164	265	300	300	0	0	0	0	-	-	-	-	0	0	0	40	0	0	0	0	657	257	474	686	0	0	0	0	-	-	-	-	-	-	-	-	-	-
Net gain (loss) on sale of other assets
6	0	-6	-11	-25	0	0	0	-4	-23	-16	0	2	-527	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (loss) gain on sale of other real estate owned
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13	0	-	-	-560	130	-19	-48	0	99	107	-5	-59
Income from other real estate owned
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1	-	-	-	-	-	-	-	-	-	-	-
Other noninterest income
567	728	620	654	817	956	733	729	624	675	634	1,099	660	500	775	597	459	442	332	382	670	318	390	292	400	430	262	-471	127	150	197	301	173	71	248	214	180	178	392
Total noninterest income
1,095	1,370	1,342	1,386	1,490	1,329	1,115	1,136	1,055	1,009	964	1,431	970	265	1,054	864	754	626	562	616	882	1,238	854	984	1,294	619	502	-274	346	-21,342	9,951	9,126	6,027	-3,335	2,223	1,858	1,358	2,292	1,705
Noninterest expense
Salaries and employee benefits
6,069	6,163	6,070	5,737	5,441	5,864	5,809	5,916	6,160	5,807	5,796	5,662	5,712	4,897	5,727	5,506	5,687	5,342	5,329	5,423	5,908	6,002	5,545	5,420	5,604	5,277	4,791	5,150	4,367	-4,537	7,349	6,531	5,617	-453	4,273	4,008	3,977	3,703	3,707
Occupancy
671	640	639	647	627	589	591	590	618	647	659	654	645	729	794	793	745	729	730	752	660	657	643	610	589	582	566	597	489	-161	684	669	652	110	594	637	630	673	666
Equipment and depreciation
452	483	460	480	461	461	438	457	446	439	430	400	418	427	502	450	423	421	408	430	393	409	400	363	369	377	415	392	425	43	460	520	398	84	378	358	357	295	302
Data processing
645	566	574	526	518	497	412	380	392	416	377	345	341	329	340	287	315	275	269	255	236	260	220	200	251	197	192	199	198	183	187	180	195	180	154	168	163	156	178
Customer expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	79
FDIC expense
193	-95	165	193	164	190	189	266	282	213	294	262	304	275	229	251	195	230	329	339	352	348	336	359	293	285	391	547	546	568	592	545	614	505	539	380	802	1,256	808
FDIC rebate
-	-	189	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other real estate owned expense, net
0	0	0	1	68	131	-16	8	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other real estate owned expense, net
-	-	-	-	-	-	-	-	-	-	-	0	-	-	0	0	-70	136	68	59	102	148	640	313	861	-517	388	1,245	2,117	2,213	1,068	1,877	1,824	1,214	716	822	374	439	557
Professional fees
861	878	1,118	1,190	796	428	655	636	749	1,115	958	1,032	1,110	1,612	1,110	774	550	604	538	744	628	756	439	665	574	296	430	845	1,365	669	1,030	1,403	1,226	666	1,156	1,081	961	1,227	1,067
Provision for (recovery of) contingencies
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-23	-279	-260	-	-	-	-	-	900	-	-	-	-
Mortgage related loan expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	733	925	318	-	157	168	103	-	-
Provision for (recovery of) contingencies
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	80	0	339	-	-	-	-	-	-
Office supplies
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	224	-	-
Business development
172	169	197	241	196	190	257	315	184	233	139	214	143	276	199	201	119	-91	225	198	156	-139	138	169	94	-401	285	327	129	-	162	-	-	-	-	-	87	-	-
Loan related expense
125	209	122	122	186	235	181	183	170	262	-5	177	22	112	152	73	38	75	100	170	69	240	79	129	84	-	0	80	-	-	-	-	-	-	-	-	-	-	-
Advertising
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	30	-	178	-	-	-	-	-	-	-	-
Insurance
63	65	58	61	61	61	62	62	63	36	62	62	61	70	69	76	76	78	87	88	88	86	120	141	137	138	145	147	148	-	-	-	-	-	-	-	-	-	-
Insurance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	127	-	-	-	-	-	-	-	-
Other operating expense
469	525	483	509	465	490	424	486	469	941	466	454	455	539	565	482	477	890	469	509	524	813	469	409	565	1,026	705	471	719	-423	757	1,032	1,054	114	909	958	606	899	982
Total noninterest expense
9,720	9,792	9,697	9,707	8,983	9,136	9,002	9,299	9,533	10,109	9,176	9,262	9,211	9,266	9,687	8,893	8,555	8,689	8,552	8,967	9,116	9,580	9,029	8,778	9,421	8,067	8,285	9,721	10,273	-2,856	13,407	13,682	12,237	3,054	9,776	8,580	8,284	8,648	8,346
Income (loss) before income taxes
-3,352	371	2,288	3,898	1,258	4,794	3,802	4,284	3,707	2,170	3,793	2,565	1,830	150	-10,174	-8,269	482	516	321	138	-85	338	-314	-768	-733	-2,691	-96	-2,624	-3,913	-13,527	5,303	1,738	2,205	1,115	627	1,870	1,680	-125	-3,023
Income tax provision (benefit)
-991	-141	700	1,200	376	383	-98	-11,085	0	-241	37	64	49	-159	20,352	-3,559	198	-11,551	0	0	0	-608	0	0	0	7,159	0	0	-1,559	-5,629	1,944	-4,058	823	-	-225	630	-	-	8,960
Net (loss) income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	946	-314	-768	-733	-9,860	-96	-2,624	-2,354	-	-	-	-	-	-	-	-	-	-
Income from discontinued operations before income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	52	-71	772	1,184	-5,013	-1,005	-518	-1,185	-	-	-	-	-	-	-	-	-	-
Income tax provision
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	711	0	0	0	-69	0	0	-370	-	-	-	-	-	-	-	-	-	-
Net income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-659	-71	772	1,184	-4,944	-1,005	-518	-815	-	-	-	-	-	-	-	-	-	-
Net income (loss) allocable to common shareholders
-2,361	440	1,630	2,728	882	4,363	3,900	15,369	3,707	-	3,756	-	-	-	-	-	-	12,067	321	138	-85	287	-385	4	451	-14,804	-1,101	-3,142	-3,169	-883	3,359	5,796	1,382	7,860	852	1,240	1,680	-125	-11,983
Accumulated dividends on preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	241	-	-	-	121	316	312	327	221
Dividends on preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	309	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inducements for exchange of the preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	512	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income allocable to common shareholders
-	-	-	-	-	-	-	-	-	-	-	2,501	1,781	-	-30,526	-4,710	284	12,067	-500	-171	-394	36	-693	-304	155	-15,054	-1,375	-3,404	-3,465	-1,132	3,118	5,562	1,148	8,169	731	924	1,368	-452	-12,204
Basic income (loss) per common share:
Net (loss) income from continuing operations (in dollars per common share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.03	-0.03	-0.06	-0.05	-0.55	-0.02	-0.15	-0.16	-	-	-	-	-	-	-	-	-	-
Net income (loss) allocable to common shareholders (in dollars per share)
-0.10	0.01	0.07	0.12	0.04	0.18	0.17	0.66	0.16	0.10	0.16	0.11	0.08	0.02	-1.33	-0.21	0.01	0.60	-0.03	-0.01	-0.02	0.01	-0.04	-0.02	0.01	-0.82	-0.07	-0.18	-0.21	-0.06	0.19	0.35	0.09	0.71	0.06	0.09	0.13	-0.04	-1.17
Diluted income (loss) per common share:
Net (loss) income from continuing operations (in dollars per common share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.03	-0.03	-0.06	-0.05	-0.55	-0.02	-0.15	-0.16	-	-	-	-	-	-	-	-	-	-
Net income (loss) allocable to common shareholders (in dollars per share)
-0.10	0.01	0.07	0.12	0.04	0.18	0.17	0.65	0.16	0.10	0.16	0.11	0.08	0.02	-1.33	-0.21	0.01	0.59	-0.03	-0.01	-0.02	0.01	-0.04	-0.02	0.01	-0.82	-0.07	-0.18	-0.21	-0.07	0.18	0.35	0.09	0.71	0.06	0.08	0.13	-0.04	-1.17
Weighted average number of common shares outstanding:
Basic (in shares)
23,475	23,444	23,356	22,619	21,824	21,786	22,996	23,213	23,156	22,870	23,092	23,186	23,138	22,377	22,996	22,962	22,873	22,851	19,823	19,773	19,617	19,231	19,291	19,254	19,146	18,401	18,923	18,905	16,732	16,700	16,669	15,778	12,396	12,303	12,273	10,434	10,434	10,434	10,434
Diluted (in shares)
23,475	23,707	23,656	23,616	23,547	23,510	23,598	23,558	23,442	23,383	23,331	23,296	23,238	22,871	22,996	22,962	23,005	23,486	19,823	19,773	19,616	19,231	19,291	19,254	19,146	18,401	18,923	18,905	16,732	23,122	19,170	15,977	12,428	10,617	12,315	12,097	10,456	10,434	10,434