Pacific West Bancorp (PWBK) Announces Second Quarter 2023 Earnings
PORTLAND, Ore., July 26, 2023 /PRNewswire/ -- Pacific West Bancorp (PWBK), the holding company of Pacific West Bank (PWB), today announced a second quarter net loss of $122 thousand or $0.05 per diluted share.
- PORTLAND, Ore., July 26, 2023 /PRNewswire/ -- Pacific West Bancorp (PWBK), the holding company of Pacific West Bank (PWB), today announced a second quarter net loss of $122 thousand or $0.05 per diluted share.
- Average asset yield increased 14 basis points to 5.04% for the quarter when compared to 4.90% for the prior quarter.
- The total interest income in the second quarter 2023 was $3.6 million, which was 11.4% growth quarter-over-quarter and 24.7% growth year-over-year.
- The Bank's allowance for credit loss for loans was $2.89 million as of second quarter 2023, which was an increase of $84 thousand compared to the first quarter of 2023 driven by loan growth during the quarter.