Private Bancorp of America, Inc. (PBAM)

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AI: Fair-priced

Issuer and security verified against SEC filingsPrivate Bancorp of America, Inc. is the parent company of CalPrivate Bank. Its common stock trades on the Nasdaq Global Select Market under PBAM.

FACT: The company's SEC Form 10-Q filed September 4, 2026 identifies CIK 0001705284, issuer Private Bancorp of America, Inc., common stock with no par value, trading symbol PBAM, and exchange The Nasdaq Stock Market LLC. The October 16, 2026 company earnings announcement confirms that Nasdaq trading began July 30, 2026, following effectiveness of its Form 10 registration statement on July 29. The company's operating subsidiary is CalPrivate Bank, a California commercial bank serving business and private banking customers. INFERENCE: Nasdaq listing may improve liquidity, institutional accessibility and price discovery, but does not independently establish intrinsic value.

Valuation near 1.70 times tangible book valueAt $85.99 per share, PBAM trades at approximately 1.70 times its September 30, 2026 tangible book value of $50.56 per share.

FACT: The October 16 company earnings release reports tangible book value per share of $50.56, compared with $49.57 at June 30, 2026 and $44.11 at September 30, 2025. Tangible book value increased approximately 14.6% year over year. The October 23 closing price was $85.99. CALCULATION: $85.99 / $50.56 = 1.701, representing a roughly 70.1% premium to tangible book value. INFERENCE: This is a meaningful premium to tangible equity, but potentially defensible for a bank producing mid-teens returns on tangible common equity. The valuation is not an obvious bargain; the premium assumes continued profitability, asset quality and tangible book value growth. No independently verified peer valuation comparison is incorporated.

Strong profitability supports the valuationThird-quarter diluted EPS was $1.97, net interest margin was 5.05%, and return on average tangible common equity was 15.62%.

FACT: The October 16, 2026 earnings announcement reports third-quarter net income of $11.4 million versus $9.7 million a year earlier, representing approximately 17.5% year-over-year growth. Diluted EPS increased from $1.65 to $1.97, approximately 19.4%. Quarterly net interest income reached $34.1 million, up 16.3% year over year. Return on average assets was 1.65%. Core deposits reached $2.36 billion, up 7.8% year over year, and loans held for investment reached $2.19 billion, up 5.0%. CALCULATION: Annualizing third-quarter EPS gives $7.88 and an indicative price-to-earnings ratio of 10.91 at $85.99. INFERENCE: An approximately 10.9-times annualized earnings multiple is reasonable for a profitable regional bank, although this is not a trailing-twelve-month or forward consensus multiple. Quarterly EPS fell from $2.27 in the second quarter, so annualization may misrepresent sustainable earnings. The 5.05% net interest margin supports the valuation, but its decline from 5.18% sequentially warrants monitoring.

Credit and funding risks limit upsideHigher criticized loans, commercial real estate exposure, uninsured deposits and rising securities losses temper the otherwise attractive earnings valuation.

FACT: Criticized loans increased from $58.0 million at June 30, 2026 to $71.9 million at September 30, representing 3.29% of total loans. Nonperforming assets increased from 1.50% to 1.58% of total assets. The allowance for loan losses was $31.7 million, or 1.45% of loans held for investment. Third-quarter provision expense was $1.3 million, compared with a $0.2 million reversal in the preceding quarter. The company's available-for-sale securities portfolio carried a $17.7 million pretax unrealized loss, versus $8.9 million at June 30. Uninsured deposits, adjusted for specified collateralized and fiduciary accounts, represented 52.8% of total deposits; reported available liquidity was $2.4 billion, or 191.8% of adjusted uninsured deposits. INFERENCE: Credit deterioration, commercial real estate concentrations and sensitivity to funding conditions could pressure earnings and tangible equity. At approximately 1.70 times tangible book and 10.9 times annualized third-quarter earnings, the shares appear fairly priced rather than clearly undervalued or overvalued. This qualitative verdict is conditional on credit costs remaining manageable and profitability staying near current levels; it is not a formal discounted cash flow valuation or an independently established price target.

AI: News

October 16, 2026 — Private Bancorp reports strong third-quarter earningsPrivate Bancorp reported $11.4 million in third-quarter net income and diluted EPS of $1.97, up from $9.7 million and $1.65 respectively in the year-earlier quarter.

FACT: The company announced unaudited third-quarter results on October 16, 2026. Core deposits increased 7.8% year over year to $2.36 billion, loans held for investment increased 5.0% to $2.19 billion, and net interest income rose 16.3% to $34.1 million. Net interest margin improved year over year to 5.05%, although it declined sequentially from 5.18%. Management reported continued loan production and strong lending pipelines, while acknowledging an increase in criticized assets. Third-quarter results included approximately $0.9 million of Nasdaq uplisting expenses, $0.6 million of other real estate owned impairment expense and a credit-loss provision affected by the adoption of a new CECL model. INFERENCE: Earnings growth and margin strength are positive for valuation, but higher operating expenses and credit concerns make future quarterly performance important.

July 30, 2026 — PBAM begins trading on the Nasdaq Global Select MarketPrivate Bancorp of America completed its Nasdaq uplisting, expanding its access to public equity markets.

FACT: The company's October 16, 2026 announcement confirms that its Form 10 registration statement became effective July 29, 2026, and PBAM common stock began Nasdaq Global Select Market trading July 30, 2026. The company reported approximately $0.9 million of listing-related expenses during the third quarter and $1.4 million year to date. Chairman Selwyn Isakow discussed increased trading volume, potential future Russell 2000 index inclusion and additional strategic flexibility. INFERENCE: A national exchange listing may broaden the shareholder base and improve trading liquidity. Russell 2000 inclusion remained a possibility described by management, not a confirmed event. This news item uses the October 16 retrospective company disclosure as its primary source rather than an independently verified July 30 announcement.

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Revenue

2022

2023

2024

2025

Net income

2022

2023

2024

2025

Free cash flow

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Total cash / debt

CashTotal debt

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Financial statements

	2025	2024	2023	2022
Revenue	$125.2M	$106.9M	$95.2M	$85.4M
Net income	$40.7M	$35.8M	$40.9M	$24.7M
Net profit margin	32.49%	33.51%	42.90%	28.95%
Basic EPSper basic share	$7.03	$6.24	$7.18	$4.41
Diluted EPSper diluted share	$6.92	$6.15	$7.11	$4.33

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Owners

Reported shareholders

Reference date Jun 30, 2026

5.48%of listed shares

BANC FUNDS CO LLC313.86K shares · Jun 30, 2026

View holders

Top 13 reported holders of PBAM
Holder	% owned
BANC FUNDS CO LLC	5.48%313.86K shares
PARKS JAMES R	≈2.28%130.29K shares
Sowers Richard L.	≈1.48%84.51K shares
Siena Capital Partners GP, LLC	1.09%62.4K shares
KENNEDY CAPITAL MANAGEMENT LLC	0.33%18.86K shares
Schlaybaugh Rex E. Jr.	≈0.27%15.24K shares
STEWART CORY D	≈0.15%8.87K shares
PL Capital Advisors, LLC	0.12%7K shares
Csanka Leda Ann	≈0.10%5.86K shares
Pouraghabagher Setareh	≈0.10%5.79K shares
EMERALD MUTUAL FUND ADVISERS TRUST	0.06%3.68K shares
Lonowski Kathy	≈<0.01%313 shares
ISAKOW SELWYN	—— shares

Percentages use 5.73M shares of this listed class outstanding on Jun 30, 2026. ≈ compares the latest reported holding with a share total from a different date; it is not a confirmed current stake.

Gray completes the 100% scale. Reported positions may overlap; holders have different reporting dates.

Source: SEC Form 13F ↗Updated Oct 21, 2026 · Quarterly data

Insider buys & sells

Oct 1, 2024–Sep 30, 2026

Buys0$0.00 disclosed value

Sells (SEC code S)0$0.00 disclosed value

No insider transactions transactions were reported in the stored SEC coverage.

Review ownership filings at SEC.gov ↗

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Private Bancorp of America, Inc. (PBAM)

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