CalPrivate Bank announces third quarter earnings
Private Bancorp of America and CalPrivate Bank, which has one location in Montecito, announced its financial results for the third quarter of 2025 on Sept. 30.
Announced Oct. 18, the bank reported net income of $9.7 million, or $1.65 per diluted share, for the third quarter of 2025, compared to $9.5 million, or $1.63 per diluted share, in the third quarter of 2024.
Net interest income for the third quarter of 2025 totaled $29.3 million, an increase of $3.6 million or 14.1% from the third quarter of 2024. Net interest margin for the third quarter of 2025 was 4.65%, compared to 4.94% for the prior quarter and 4.44% in the third quarter of 2024. As of Sept. 30, total assets were $2.58 billion, an increase of $121.6 million since June 30.
CalPrivate opened its Montecito branch on April 17.
Rick Sowers, president and CEO of CalPrivate, said he was “excited to open our Montecito Branch this quarter and welcome clients into our office in the Upper Village.
“Led by longtime Santa Barbara banking executive George Leis, we are hitting the ground running and looking forward to gaining market share in this important expansion for CalPrivate Bank,” he said.
