Pacific West Bancorp Q1 net income rises

Pacific West Bank

28/04/2026 22:39

Overview

U.S. community bank's Q1 net income rose 23% from prior quarter, impacted by merger costs

Company's total assets surpassed $400 mln, with deposits up 5% from prior quarter

Loan balances declined due to strategic risk reduction and scheduled maturities

Outlook

Company did not provide specific financial guidance for future quarters or the full year in the press release

Result Drivers

MERGER EXPENSES - Q1 results were impacted by $425,000 in merger-related expenses

DEPOSIT GROWTH - Deposit growth contributed to higher interest expense

STRATEGIC LOAN REDUCTION - Decline in loan balances was due to strategic decisions to reduce portfolio risk and scheduled maturities

Company press release: ID:nPn8sGDqsa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$0.06
Q1 Net Income
$155,000
Q1 Basic EPS
$0.06
Q1 Net Interest Margin (%)
3.16%


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)