Monday, 02 November 2026 09:00 AM
Earnings
SAN FRANCISCO, CA / ACCESS Newswire / November 2, 2026 / Bank of San Francisco ("the Bank") (OTCQX:BSFO) today reported unaudited net income of $2.3 million, or $1.04 per diluted share for the three months ended September 30, 2026, compared to $1.7 million, or $0.76 per diluted share for the three months ended June 30, 2026, and $1.8 million, or $0.86 per diluted share for the three months ended September 30, 2025. For the nine months ended September 30, 2026, the Bank reported net income of $5.9 million, or $2.74 per diluted share, compared to $4.6 million, or $2.14 per diluted share, for the nine months ended September 30, 2025.
"We are pleased with the Bank's performance through the first nine months of 2026," said William Keller, Chief Executive Officer. "As we approach $1 billion in assets, we see the accelerating benefits of our relationship-focused strategy reflected in the continued growth of loans, deposits, and earnings. As a result, we are reporting our best earnings per share profitability in almost five years, and pre-tax, pre-provision results that are substantially above prior periods while maintaining strong asset quality, a solid capital position, and a commitment to the personal service that sets Bank of San Francisco apart."
Financial Highlights
- Total assets were $930.4 million at September 30, 2026, an increase of $66.9 million, or 8% from June 30, 2026, and an increase of $232.0 million, or 33% from September 30, 2025.
- Net income for the quarter ended September 30, 2026, totaled $2.3 million, an increase of $603,000, or 36% from the quarter ended June 30, 2026, and an increase of $425,000, or 23% from the quarter ended September 30, 2025. Net income for the nine months ended September 30, 2026, totaled $5.9 million, an increase of $1.4 million, or 30% from the nine months ended September 30, 2025.
- Pre-tax, pre-provision income for the quarter ended September 30, 2026, totaled $3.7 million, an increase of $751,000, or 25% from the quarter ended June 30, 2026, and an increase of $760,000, or 26% from the quarter ended September 30, 2025. Pre-tax, pre-provision income for the nine months ended September 30, 2026, totaled $9.7 million, an increase of $2.3 million, or 31% from the nine months ended September 30, 2025.
"Relationship deposits, net of reductions in brokered deposits, increased $74.4 million during the quarter across all parts of the Bank. Our Laurel Village branch, which opened in January, grew by $18.7 million to $46.2 million, Private Banking grew by $27.5 million to $212.6 million, and Commercial Banking grew by $28.2 million to $489.8 million. It is especially rewarding to see the many long-term relationships our team has built continue to contribute to the Bank's growth," said Margaret Mak, Founder, Private Banking. "The loan mix continues to shift slightly toward commercial real estate as accelerated payoffs of legacy mortgages have limited net mortgage growth, while mortgage production remained strong. Year to date, mortgage originations totaled approximately $71 million, with 62% generated by Private Banking. These mortgages are true relationship loans. In aggregate, every dollar of mortgage and home equity lending has generated approximately 41 cents in deposits."
Balance Sheet Highlights
- Total deposits were $805.1 million at September 30, 2026, an increase of $64.4 million, or 9% from June 30, 2026, and an increase of $199.1 million, or 33% from September 30, 2025.
- Non-interest-bearing demand deposits were $263.9 million at September 30, 2026, an increase of $20.2 million, or 8% from June 30, 2026, and an increase of $25.5 million, or 11% from September 30, 2025. Non-interest-bearing deposits accounted for 32.77% of total deposits at September 30, 2026, compared to 32.89% at June 30, 2026, and 39.33% at September 30, 2025.
- Interest-bearing deposits were $541.3 million at September 30, 2026, an increase of $44.2 million, or 9% from June 30, 2026, and an increase of $173.6 million, or 47% from September 30, 2025. The total cost of deposits for the quarter ended September 30, 2026, was 1.58%, an increase of 0.19% from the quarter ended June 30, 2026, and an increase of 0.31% from the quarter ended September 30, 2025.
- Total loans were $737.9 million at September 30, 2026, an increase of $42.1 million, or 6% from June 30, 2026, and an increase of $156.5 million, or 27% from September 30, 2025. Unused commitments in the current quarter decreased $9.3 million from June 30, 2026, with increased client utilization during the quarter.
- Commercial real estate loans were $353.8 million at September 30, 2026, an increase of $25.5 million, or 8% from June 30, 2026, and an increase of $87.4 million, or 33% from September 30, 2025. Residential mortgage loans were $318.4 million at September 30, 2026, an increase of $23.2 million, or 8% from June 30, 2026, and an increase of $52.0 million, or 20% from September 30, 2025.
- The allowance for credit losses increased by $515,000 from June 30, 2026, consistent with the increase in outstanding loan balances for the quarter ended September 30, 2026.
- Non-performing loans represented 0.08% of total assets at September 30, 2026, compared to 0.07% at June 30, 2026, and compared to 0.12% at September 30, 2025.
"Growth brings opportunity, but it also requires preparation, and over the past year, we have invested in our team, technology, and operations to more effectively and efficiently serve our clients. A sound operating and risk management foundation complements our strong capital base and excellent credit quality," said Bill Ward, President and Chief Operating Officer. "As we enter our next stage of growth and operating leverage continues to improve, we expect investments to grow more slowly than revenues as evidenced by our improving efficiency ratio, which decreased from 64.9% to 60.7% in the quarter, and from 64.8% to 62.9% year to date."
Income Statement Highlights
- Net interest income for the quarter ended September 30, 2026, totaled $9.0 million, an increase of $723,000, or 9% from the quarter ended June 30, 2026, and an increase of $1.6 million, or 21% from the quarter ended September 30, 2025. Net interest income for the nine months ended September 30, 2026, totaled $25.5 million, an increase of $4.8 million, or 23% from the nine months ended September 30, 2025.
- Net interest margin (NIM) for the quarter ended September 30, 2026, was 4.03%, compared to 4.30% for the quarter ended June 30, 2026, and 4.33% for the quarter ended September 30, 2025. NIM for the nine months ended September 30, 2026, was 4.23%, compared to 4.22% for the nine months ended September 30, 2025.
- Non-interest income for the quarter ended September 30, 2026, totaled $409,000 including $221,000 of non-recurring income.
- Non-interest expense for the quarter ended September 30, 2026, totaled $5.7 million, an increase of $255,000, or 5% from the quarter ended June 30, 2026, and an increase of $1.1 million, or 24% from the quarter ended September 30, 2025. Non-interest expense for the nine months ended September 30, 2026, totaled $16.4 million, an increase of $2.8 million, or 20% from the nine months ended September 30, 2025.
Capital Highlights
- Total shareholders' equity was $89.3 million at September 30, 2026, an increase of $2.4 million, or 3% from June 30, 2026, and an increase of $8.7 million, or 11% from September 30, 2025.
- Book value per share was $40.15 at September 30, 2026, an increase of $0.94, or 2% from June 30, 2026, and an increase of $2.98, or 8% from September 30, 2025.
- The Bank remained well capitalized, with all capital ratios exceeding regulatory requirements, including a Tier 1 Leverage Ratio of 9.94%, Tier 1 Risk-Based Capital and Common Equity Tier 1 Ratios of 14.10%, and a Total Risk-Based Capital Ratio of 15.36%.
# # #
Non-GAAP Financial Measure
To supplement our financial statements, which are prepared and presented in accordance with GAAP, we use pre-tax, pre-provision income, a non-GAAP financial measure calculated by adding the provision for credit losses and income tax expense back to net income. This measure has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for an analysis of our results under GAAP.
We believe pre-tax, pre-provision income gives management and investors additional information about the performance of our business operations and allows comparison between periods when the provision for credit losses and income taxes vary independently of business performance.
About Bank of San Francisco
Bank of San Francisco is an independent commercial and private bank built on personal relationships. Founded and headquartered in San Francisco since 2005, the Bank serves individuals, families, businesses, and nonprofits that value direct access to experienced bankers and a single point of contact across their financial lives.
With deep community roots and a broad reach, the Bank delivers high-touch service and quick decisions, supporting clients wherever life and business take them. Growth is fueled by referrals and the long-term loyalty of clients, colleagues, and community partners. Bank of San Francisco is a member of the FDIC and is an Equal Housing Lender. NMLS ID: 403437. Learn more at www.bankbsf.com.
Forward-Looking Statements
This press release contains certain forward-looking statements that involve risks and uncertainties, including statements relating to new products and anticipated growth. Forward-looking statements are those that are not statements of historical fact and may be identifiable by use of the words "believe," "expect," "intend," "anticipate," "plan," "estimate," "project," or similar expressions. These statements are based on current expectations, estimates and projections about Bank of San Francisco's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties may affect the operations, performance, development, growth, capital needs and results of operations of Bank of San Francisco, and include, but are not limited to, local and national economic conditions; interest rate changes; inflation and monetary policy; changes in the financial performance and/or condition of our loan and deposit clients; changes in the levels of performing and nonperforming assets and charge-offs; timely implementation by Bank of San Francisco of new products and technology enhancements; the impact of competitive products, services and pricing; acts of war, terrorism or civil unrest; the soundness or failure of other financial institutions that may directly or indirectly affect the Bank; potential deposit withdrawals triggered by client concerns following the failures of or risks at other depository institutions; the effect of the COVID-19 pandemic and other infectious illness outbreaks that may arise in the future; natural disasters, such as earthquakes; clients' requirements and preferences; federal, state and local legislation and regulatory developments; the ability to retain or increase market share, retain or grow client relationships and control expenses; changes in regulatory or generally accepted accounting principles and other similar matters. Readers are cautioned not to place undue reliance on forward-looking statements, which are subject to influence by the foregoing risk factors and unanticipated future events. Actual results, accordingly, may differ materially from management's expectations. Bank of San Francisco undertakes no obligation to update such forward-looking statements except as required by law.
| Bank of San Francisco |
| Balance Sheets (Unaudited) |
| ($000, except share and per share amounts) |
| For the Periods Ended | Year Over Year Change | |||||||||||||||||||||||||||
| 9/30/2026 | 6/30/2026 | 3/31/2026 | 12/31/2025 | 9/30/2025 | $ | % | ||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||
Cash and due from banks | $ | 8,052 | $ | 5,502 | $ | 7,129 | $ | 10,899 | $ | 6,604 | $ | 1,448 | 22 | % | ||||||||||||||
Interest bearing deposits in banks | 130,515 | 118,488 | 84,997 | 60,827 | 74,188 | 56,327 | 76 | % | ||||||||||||||||||||
Total cash and cash equivalents | 138,567 | 123,990 | 92,126 | 71,726 | 80,792 | 57,775 | 72 | % | ||||||||||||||||||||
Securities available-for-sale, at fair value | 40,388 | 30,043 | 25,887 | 26,025 | 25,038 | 15,350 | 61 | % | ||||||||||||||||||||
Loans, net of deferred costs/fees | 737,937 | 695,805 | 637,010 | 623,030 | 581,443 | 156,494 | 27 | % | ||||||||||||||||||||
Allowance for credit losses | (8,814 | ) | (8,299 | ) | (7,749 | ) | (7,659 | ) | (7,518 | ) | (1,296 | ) | 17 | % | ||||||||||||||
Loans, net of allowance for credit losses | 729,123 | 687,506 | 629,261 | 615,371 | 573,925 | 155,198 | 27 | % | ||||||||||||||||||||
Premises and equipment, net | 2,865 | 2,935 | 3,036 | 2,590 | 1,632 | 1,233 | 76 | % | ||||||||||||||||||||
Accrued interest receivable & other assets | 19,474 | 19,078 | 17,200 | 17,342 | 17,021 | 2,453 | 14 | % | ||||||||||||||||||||
Total Assets | $ | 930,417 | $ | 863,552 | $ | 767,510 | $ | 733,054 | $ | 698,408 | $ | 232,009 | 33 | % | ||||||||||||||
Liabilities & Shareholders' Equity | ||||||||||||||||||||||||||||
Non-interest bearing deposits | $ | 263,850 | $ | 243,621 | $ | 276,352 | $ | 265,492 | $ | 238,330 | $ | 25,520 | 11 | % | ||||||||||||||
Interest bearing deposits | 541,259 | 497,078 | 393,651 | 372,073 | 367,669 | 173,590 | 47 | % | ||||||||||||||||||||
Total deposits | 805,109 | 740,699 | 670,003 | 637,565 | 605,999 | 199,110 | 33 | % | ||||||||||||||||||||
FHLB advances | 24,000 | 24,000 | - | - | - | 24,000 | n/m | |||||||||||||||||||||
Accrued interest payable and other liabilities | 12,005 | 11,990 | 12,389 | 12,432 | 11,795 | 210 | 2 | % | ||||||||||||||||||||
Total Liabilities | 841,114 | 776,689 | 682,392 | 649,997 | 617,794 | 223,320 | 36 | % | ||||||||||||||||||||
Common stock | 30,283 | 29,869 | 29,614 | 29,490 | 29,261 | 1,022 | 3 | % | ||||||||||||||||||||
Retained earnings | 59,452 | 57,191 | 55,534 | 53,521 | 51,309 | 8,143 | 16 | % | ||||||||||||||||||||
Accumulated other comprehensive (loss) income | (432 | ) | (197 | ) | (30 | ) | 46 | 44 | (476 | ) | -1082 | % | ||||||||||||||||
Total Shareholders' Equity | 89,303 | 86,863 | 85,118 | 83,057 | 80,614 | 8,689 | 11 | % | ||||||||||||||||||||
Total Liabilities & Shareholders' Equity | $ | 930,417 | $ | 863,552 | $ | 767,510 | $ | 733,054 | $ | 698,408 | $ | 232,009 | 33 | % | ||||||||||||||
Book Value per Common Share | $ | 40.15 | $ | 39.21 | $ | 38.94 | $ | 37.94 | $ | 37.17 | $ | 2.98 | 8 | % | ||||||||||||||
Total Common Shares Outstanding | 2,223,964 | 2,215,113 | 2,185,966 | 2,188,985 | 2,168,841 | 55,123 | 3 | % | ||||||||||||||||||||
Capital Ratios | ||||||||||||||||||||||||||||
Tier 1 Leverage ratio | 9.94 | % | 10.92 | % | 11.27 | % | 11.16 | % | 11.54 | % | -1.60 | % | -14 | % | ||||||||||||||
Tier 1 RBC ratio | 14.10 | % | 14.36 | % | 15.59 | % | 16.14 | % | 17.08 | % | -2.98 | % | -17 | % | ||||||||||||||
Common Equity Tier 1 RBC ratio | 14.10 | % | 14.36 | % | 15.59 | % | 16.14 | % | 17.08 | % | -2.98 | % | -17 | % | ||||||||||||||
Total Risk-Based Capital (RBC) ratio | 15.36 | % | 15.61 | % | 16.84 | % | 17.39 | % | 18.34 | % | -2.98 | % | -16 | % | ||||||||||||||
Other Ratios | ||||||||||||||||||||||||||||
Non-interest bearing to Total Deposits | 32.77 | % | 32.89 | % | 41.25 | % | 41.64 | % | 39.33 | % | -6.56 | % | -17 | % | ||||||||||||||
Loan to Deposit ratio | 91.66 | % | 93.94 | % | 95.08 | % | 97.72 | % | 95.95 | % | -4.29 | % | -4 | % | ||||||||||||||
Loan to Funding ratio | 89.00 | % | 90.99 | % | 95.08 | % | 97.72 | % | 95.95 | % | -6.95 | % | -7 | % | ||||||||||||||
Allowance for Credit Losses to Total Loans | 1.19 | % | 1.19 | % | 1.22 | % | 1.23 | % | 1.29 | % | -0.10 | % | -8 | % | ||||||||||||||
ACL to Nonperforming Loans | 1150.61 | % | 1319.08 | % | 1190.05 | % | 1099.23 | % | 868.68 | % | 281.93 | % | 32 | % | ||||||||||||||
Nonperforming Assets to Total Assets | 0.08 | % | 0.07 | % | 0.08 | % | 0.09 | % | 0.12 | % | -0.04 | % | -33 | % | ||||||||||||||
n/m - Not Meaningful
Bank of San Francisco
Statement of Income (Unaudited)
($000, except share and per share amounts)
| Three Months Ended | Year Over Year Change | |||||||||||||||||||||
| 9/30/2026 | 6/30/2026 | 3/31/2026 | 12/31/2025 | 9/30/2025 | $ | % | ||||||||||||||||
Interest Income | ||||||||||||||||||||||
Interest on loans, including fees | $ | 10,503 | $ | 9,632 | $ | 8,874 | $ | 8,904 | $ | 8,048 | $ | 2,455 | 31 | % | ||||||||
Interest on deposits in banks | 1,198 | 771 | 751 | 968 | 1,021 | 177 | 17 | % | ||||||||||||||
Interest on investment securities | 544 | 331 | 246 | 247 | 208 | 336 | 162 | % | ||||||||||||||
Other interest income | 108 | 43 | 181 | 79 | 77 | 31 | 40 | % | ||||||||||||||
Total interest income | 12,353 | 10,777 | 10,052 | 10,198 | 9,354 | 2,999 | 32 | % | ||||||||||||||
Interest Expense | ||||||||||||||||||||||
Deposits interest expense | 3,105 | 2,385 | 1,858 | 2,054 | 1,936 | 1,169 | 60 | % | ||||||||||||||
Other interest expense | 255 | 122 | - | - | - | 255 | n/m | |||||||||||||||
Total interest expense | 3,360 | 2,507 | 1,858 | 2,054 | 1,936 | 1,424 | 74 | % | ||||||||||||||
Net interest income | 8,993 | 8,270 | 8,194 | 8,144 | 7,418 | 1,575 | 21 | % | ||||||||||||||
Provision for credit losses | 530 | 680 | 200 | 300 | 330 | 200 | 61 | % | ||||||||||||||
Net interest income after provision | 8,463 | 7,590 | 7,994 | 7,844 | 7,088 | 1,375 | 19 | % | ||||||||||||||
Non-Interest Income | ||||||||||||||||||||||
Service charges on deposits | 87 | 99 | 103 | 129 | 111 | (24 | ) | -22 | % | |||||||||||||
Other non-interest income | 322 | 27 | 49 | 80 | 15 | 307 | 2047 | % | ||||||||||||||
Total non-interest income | 409 | 126 | 152 | 209 | 126 | 283 | 225 | % | ||||||||||||||
Non-Interest Expense | ||||||||||||||||||||||
Salaries and employee benefits expense | 3,547 | 3,439 | 3,345 | 3,258 | 2,720 | 827 | 30 | % | ||||||||||||||
Occupancy | 425 | 437 | 402 | 372 | 366 | 59 | 16 | % | ||||||||||||||
Information Technology and Equipment | 420 | 428 | 391 | 342 | 340 | 80 | 24 | % | ||||||||||||||
Other operating expense | 1,313 | 1,146 | 1,140 | 1,087 | 1,181 | 132 | 11 | % | ||||||||||||||
Total non-interest expense | 5,705 | 5,450 | 5,278 | 5,059 | 4,607 | 1,098 | 24 | % | ||||||||||||||
Income before income taxes | 3,167 | 2,266 | 2,868 | 2,994 | 2,607 | 560 | 21 | % | ||||||||||||||
Income tax expense | 907 | 609 | 854 | 783 | 772 | 135 | 17 | % | ||||||||||||||
Net income | $ | 2,260 | $ | 1,657 | $ | 2,014 | $ | 2,211 | $ | 1,835 | $ | 425 | 23 | % | ||||||||
Basic Earnings per Share | $ | 1.06 | $ | 0.78 | $ | 0.95 | $ | 1.05 | $ | 0.87 | $ | 0.19 | 22 | % | ||||||||
Average Shares Outstanding | 2,133,245 | 2,131,354 | 2,117,290 | 2,109,522 | 2,108,663 | 24,582 | 1 | % | ||||||||||||||
Diluted Earnings per Share | $ | 1.04 | $ | 0.76 | $ | 0.94 | $ | 1.03 | $ | 0.86 | $ | 0.18 | 21 | % | ||||||||
Average Shares Outstanding | 2,171,811 | 2,170,340 | 2,132,083 | 2,136,558 | 2,134,102 | 37,709 | 2 | % | ||||||||||||||
Annualized Performance Ratios | ||||||||||||||||||||||
Return on Average Assets | 1.10 | % | 0.85 | % | 1.07 | % | 1.19 | % | 1.05 | % | 0.05 | % | 5 | % | ||||||||
Return on Average Common Equity | 10.38 | % | 7.71 | % | 9.58 | % | 10.81 | % | 9.22 | % | 1.16 | % | 13 | % | ||||||||
Net Interest Margin | 4.03 | % | 4.30 | % | 4.47 | % | 4.44 | % | 4.33 | % | -0.30 | % | -7 | % | ||||||||
Cost of Deposits | 1.58 | % | 1.39 | % | 1.15 | % | 1.26 | % | 1.27 | % | 0.31 | % | 24 | % | ||||||||
Cost of Funds | 1.66 | % | 1.44 | % | 1.15 | % | 1.26 | % | 1.27 | % | 0.39 | % | 31 | % | ||||||||
Efficiency Ratio | 60.68 | % | 64.91 | % | 63.24 | % | 60.57 | % | 61.07 | % | -0.39 | % | -1 | % | ||||||||
| Reconciliation of GAAP to Non-GAAP Financial Measures | ||||||||||||||||||||||
Net income | $ | 2,260 | $ | 1,657 | $ | 2,014 | $ | 2,211 | $ | 1,835 | $ | 425 | 23 | % | ||||||||
Provision for credit losses | 530 | 680 | 200 | 300 | 330 | 200 | 61 | % | ||||||||||||||
Income tax expense | 907 | 609 | 854 | 783 | 772 | 135 | 17 | % | ||||||||||||||
Pre-tax, pre-provision income | $ | 3,697 | $ | 2,946 | $ | 3,068 | $ | 3,294 | $ | 2,937 | $ | 760 | 26 | % | ||||||||
n/m - Not Meaningful | ||||||||||||||||||||||
Bank of San Francisco | ||||||||||||||||
Statement of Income (Unaudited) | ||||||||||||||||
($000, except share and per share amounts) | ||||||||||||||||
| Nine Months Ended | Year Over Year Change | |||||||||||||||
| 9/30/2026 | 9/30/2025 | $ | % | |||||||||||||
Interest Income | ||||||||||||||||
Interest on loans, including fees | $ | 29,009 | $ | 22,715 | $ | 6,294 | 28 | % | ||||||||
Interest on deposits in banks | 2,720 | 2,626 | 94 | 4 | % | |||||||||||
Interest on investment securities | 1,121 | 639 | 482 | 75 | % | |||||||||||
Other interest income | 332 | 223 | 109 | 49 | % | |||||||||||
Total interest income | 33,182 | 26,203 | 6,979 | 27 | % | |||||||||||
Interest Expense | ||||||||||||||||
Deposits interest expense | 7,348 | 5,523 | 1,825 | 33 | % | |||||||||||
Other interest expense | 377 | - | 377 | n/m | ||||||||||||
Total interest expense | 7,725 | 5,523 | 2,202 | 40 | % | |||||||||||
Net interest income | 25,457 | 20,680 | 4,777 | 23 | % | |||||||||||
Provision for credit losses | 1,410 | 920 | 490 | 53 | % | |||||||||||
Net interest income after provision | 24,047 | 19,760 | 4,287 | 22 | % | |||||||||||
Non-Interest Income | ||||||||||||||||
Service charges on deposits | 289 | 321 | (32 | ) | -10 | % | ||||||||||
Other non-interest income | 398 | 71 | 327 | 461 | % | |||||||||||
Total non-interest income | 687 | 392 | 295 | 75 | % | |||||||||||
Non-Interest Expense | ||||||||||||||||
Salaries and employee benefits expense | 10,331 | 8,638 | 1,693 | 20 | % | |||||||||||
Occupancy | 1,264 | 993 | 271 | 27 | % | |||||||||||
Information Technology and Equipment | 1,239 | 979 | 260 | 27 | % | |||||||||||
Other operating expense | 3,599 | 3,045 | 554 | 18 | % | |||||||||||
Total non-interest expense | 16,433 | 13,655 | 2,778 | 20 | % | |||||||||||
Income before income taxes | 8,301 | 6,497 | 1,804 | 28 | % | |||||||||||
Income tax expense | 2,370 | 1,930 | 440 | 23 | % | |||||||||||
Net income | $ | 5,931 | $ | 4,567 | $ | 1,364 | 30 | % | ||||||||
Basic Earnings per Share | $ | 2.79 | $ | 2.18 | $ | 0.61 | 28 | % | ||||||||
Average Shares Outstanding | 2,127,330 | 2,097,194 | 30,136 | 1 | % | |||||||||||
Diluted Earnings per Share | $ | 2.74 | $ | 2.14 | $ | 0.60 | 28 | % | ||||||||
Average Shares Outstanding | 2,166,475 | 2,132,030 | 34,445 | 2 | % | |||||||||||
Annualized Performance Ratios | ||||||||||||||||
Return on Average Assets | 0.97 | % | 0.92 | % | 0.05 | % | 5 | % | ||||||||
Return on Average Common Equity | 9.15 | % | 7.74 | % | 1.41 | % | 18 | % | ||||||||
Net Interest Margin | 4.23 | % | 4.22 | % | 0.01 | % | n/m | |||||||||
Cost of Deposits | 1.39 | % | 1.29 | % | 0.10 | % | 8 | % | ||||||||
Cost of Funds | 1.43 | % | 1.29 | % | 0.14 | % | 11 | % | ||||||||
Efficiency Ratio | 62.86 | % | 64.80 | % | -1.94 | % | -3 | % | ||||||||
| Reconciliation of GAAP to Non-GAAP Financial Measures | ||||||||||||||||
Net income | $ | 5,931 | $ | 4,567 | $ | 1,364 | 30 | % | ||||||||
Provision for credit losses | 1,410 | 920 | 490 | 53 | % | |||||||||||
Income tax expense | 2,370 | 1,930 | 440 | 23 | % | |||||||||||
Pre-tax, pre-provision income | $ | 9,711 | $ | 7,417 | $ | 2,294 | 31 | % | ||||||||
n/m - Not Meaningful
MEDIA CONTACT:
Leslie Katter
[email protected]
SOURCE: Bank of San Francisco