Pacific West Bancorp ("PWBK") Announces Third Quarter 2023 Earnings
PORTLAND, Ore., Oct. 26, 2023 /PRNewswire/ -- Pacific West Bancorp, the holding company of Pacific West Bank ("PWB"), today announced a third quarter net loss of ($205) thousand or ($0.08) per diluted share.
- PORTLAND, Ore., Oct. 26, 2023 /PRNewswire/ -- Pacific West Bancorp, the holding company of Pacific West Bank ("PWB"), today announced a third quarter net loss of ($205) thousand or ($0.08) per diluted share.
- Non-interest income grew $103 thousand or 124.5% when compared to the prior quarter, primarily driven by the Bank's newly formed Banking-as-a-Service ("BaaS") division successfully launching three Fintech Brand Partners during the quarter.
- Jason Wessling, PWB's President commented, "PWB's loan and deposit growth momentum continued, which was evidenced by our third quarter results.
- Specifically, loan yield increased by 21 basis points from 5.09% in the second quarter to 5.30% in the third quarter.