September 02, 2014 8:51 PM ET

Banks

Company Overview of Premier Service Bank

Company Overview

As of January 31, 2014, Premier Service Bank was acquired by Independence Bank. Premier Service Bank provides various banking products and services to individuals, and small and middle-market businesses in California. The company offers kids savings accounts, basic and business savings accounts, money market accounts, retirement accounts, and certificates of deposit; and checking accounts comprising totally free, premier heritage, premier optima, money market, business, and non-profit community checking accounts. It also provides loans for construction and land development, commercial real estate, residential real estate, commercial and industrial, and consumer loans, as well as revolving an...

3637 Arlington Avenue

Suite B

Riverside, CA 92506

United States

Founded in 2001

Phone:

951-274-2400

Fax:

951-274-2410

Key Executives for Premier Service Bank

Premier Service Bank does not have any Key Executives recorded.

Premier Service Bank Key Developments

Premier Service Bank Announces Unaudited Earnings Results for the Third Quarter Ended September 30, 2013

Premier Service Bank announced unaudited earnings results for the third quarter ended September 30, 2013. For the quarter, the company reported net loss of $212,000 or $0.18 per diluted share compared to net income of $161,000 or $0.12 per diluted share for the quarter ended September 30, 2012. The decrease in earnings between the respective periods is attributed to the decrease in the net interest income due to the decrease in the net loan portfolio. There was no additional provision to the allowance for loan losses required for the third quarter of 2013 and for the same period in 2012. Interest income (not taxable equivalent) was $1,139,000 compared to $1,622,000 for the same period a year ago. Net interest income was $1,039,000 compared to $1,437,000 for the same period a year ago. Net interest income after provision for loan losses was $1,039,000 compared to $1,437,000 for the same period a year ago. Loss before income taxes was $212,000 compared to income before income taxes of $161,000 for the same period a year ago. Book value as at September 30, 2013 was $5.19 compared to $5.01 per share as at September 30, 2012.

Premier Service Bank Announces Unaudited Earnings Results for the Second Quarter Ended June 30, 2013

Premier Service Bank announced unaudited earnings results for the second quarter ended June 30, 2013. For the period, the company reported net loss of $23,000 or $0.03 per basic and diluted share, compared to net loss of $166,000 or $0.14 per basic and diluted share for the quarter ended June 30, 2012. The improvement in earnings between the respective periods is attributed to the decrease in the write-downs and expenses related to the other real estate owned during the second quarter of 2013. There was no additional provision to the allowance for loan losses required for the second quarter of 2013 and for the same period in 2012. Interest income (not taxable equivalent) was $1,167,000 compared to $1,675,000 for the same period a year ago. Net interest income was $1,058,000 compared to $1,478,000 for the same period a year ago. Net interest income after provision for loan losses was $1,058,000 compared to $1,478,000 for the same period a year ago. Loss before income taxes was $22,000 compared to $165,000 for the same period a year ago. Book value as at June 30, 2013 was $5.46 compared to $4.90 at the same period a year ago.

Premier Service Bank Announces Unaudited Financial Results for the First Quarter Ended March 31, 2013

Premier Service Bank announced unaudited financial results for the first quarter ended March 31, 2013. For the quarter ended March 31, 2013, the bank reported net income of $347,000 or $0.27 per diluted share, compared to net loss of $190,000, or $0.16 per diluted share for the quarter ended March 31, 2012. The improvement in earnings between the respective periods is attributed to the decrease in the provision for loan losses and the non-recurring noninterest income that was received during the first quarter of 2013. Interest income (not taxable equivalent) was $1,347,000, compared to $1,768,000 for the last year. Net interest income was $1,221,000, compared to $1,560,000 for the last year. Income before income taxes was $347,000, compared to loss before income taxes of $190,000 for the last year. Book value at period end was $5.53 per share as on March 31, 2013, compared to $5.05 per share as on March 31, 2012.

Similar Private Companies By Industry

Company Name Region
Verus Acquisition Group, Inc. United States
Advantage Bancorp, Inc. (Loveland, CO) United States
Chattahoochee Bank of Georgia United States
Pacific City Bank United States
Slovenian Savings & Loan Association Of Canonsburg United States

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
November 4, 2013
--
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
NYC2012, Inc. United States
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
Rush University United States
Greater Houston Partnership United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Premier Service Bank, please visit www.premierservicebank.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.