Press Release

Peninsula Bank Holding Co. Releases Fourth Quarter Results

Company Release - 2/8/2011 12:34 PM ET

PALO ALTO, Calif.--(BUSINESS WIRE)-- Peninsula Bank Holding Co., the parent company of The Private Bank of the Peninsula, today announced its unaudited results for the fourth quarter of 2010.

“We are pleased to announce earnings of $606,000 for the fourth quarter of 2010. Our goal has been to reach sustainable profitability and this is our sixth consecutive profitable quarter,” stated Chairman, Mark D. Mordell. “Our year-to-date earnings of $2.2 million are a significant improvement over the previous year, making 2010 our most profitable year ever.”

Financial Results

In thousands (unaudited)


  12/31/10   12/31/09 % Change
Total Assets $ 316,789 $ 307,936 3 %
Loans $ 208,542 $ 203,604 2 %
Deposits $ 284,688 $ 278,318 2 %
Shareholders' Equity $ 30,354 $ 28,018 8 %
Common Shares 2,602 2,602 0 %
  Quarter Ending   Quarter Ending   Year-to-Date   Year-to-Date
  12/31/10   12/31/09   12/31/10 12/31/09  
Net Income (Loss) $ 606 $ 679 $ 2,224 ($559 )
Earnings (Loss) Per Share $ 0.16 $ 0.26 $ 0.79 ($0.21 )

“We continue to pursue lending opportunities in our market even as we maintain our careful underwriting,” said Kenneth D. Brenner, the Company’s Chief Executive Officer. “Our strategy of moderate growth combined with controlled expenses and a well maintained loan loss reserve continues to produce results.”

About the Bank

The Private Bank of the Peninsula, a subsidiary of Peninsula Bank Holding Co. (OTCBB:PBKH), is headquartered in Palo Alto, California. The Private Bank focuses on the banking needs of businesses and individuals primarily in the Greater San Francisco Bay Area. The Bank’s experienced senior management team provides personalized, relationship-based service, giving clientele access to senior level decision-makers. The Bank specializes in the following markets: commercial & industrial, asset based, real estate construction, commercial real estate, and real estate bridge financing.

Source: The Private Bank of the Peninsula


The Private Bank of the Peninsula

Steve Leen, Chief Financial Officer, 650-843-2204