Pacific Alliance Bank Announces Third Quarter Results

  
    
  
  
    
      Pacific Alliance Bank (OTCBB:PFBN) announced today its third quarter 
      2008 results, with highlights as follows:
    
    
      
        Total Assets increased $12.1 million to $63.5 million, or 23.5% growth 
        from $51.4 million at September 30, 2007, and increased 20.68% from 
        $52.7 million at December 31, 2007.
      
      
        Loans outstanding increased $16.5 million to $35.6 million, or 86.09% 
        increase from $19.1 million at September 30, 2007, and increased 
        38.56% from $25.7 million at December 31, 2007.
      
      
        Deposits grew by 24.52% to $45.4 million from $36.5 million at 
        September 30, 2007, and grew 25% from $36.3 million at December 31, 
        2007.
      
    
    
      
        Provision for loan losses was $72,000, with allowance for loan losses 
        to total loans at 1.43%.
      
      
        As of September 30, 2008, all Bank loans were current, except for one. 
        This loan was technically past due 34 days, due to the borrower’s 
        being out of country on an extended trip at and subsequent to the line 
        renewal date. This loan is now current.
      
      
        The Bank continued to be categorized as “well-capitalized” 
        under the regulatory guidelines, with Tier 1 leverage capital ratio of 
        22.34%, Tier 1 risk-based capital ratio of 31.86%, and Total 
        risk-based capital ratio of 33.10%.
      
    
    
      The operating loss for 3rd quarter 2008 was 
      lower than the same quarter last year, ($542,000) or (33 cents) per 
      share for 3rd quarter 2008, and ($688,000), or 
      (40 cents) per share for the third quarter of 2007.
    
    
      The operating loss for the nine months ended September 30, 2008 was much 
      lower than the period in the prior year. For the nine months ended 
      September 30, 2008, the loss was ($1,353,000), or (82 cents) per share, 
      compared with loss of ($1,934,000), or (117 cents) per share for the 
      same period last year.
    
    
      Pacific Alliance Bank was formed to achieve its mission of delivering 
      business value in its market, serving small to mid-size businesses, 
      owners, and key employees who seek a personal bank ready to meet their 
      banking needs with customized services.
    
    
      Pacific Alliance Bank is a full-service FDIC insured community bank, 
      headquartered at 8400 E. Valley Blvd., Rosemead, California 91770. For 
      more information, contact Ms. Trish Lomeli-Sproles [phone] or [e-mail] 
      and visit http://www.pacificalliancebank.com.
    
    
      This document may include forward-looking information, which is subject 
      to the "safe harbor" created by Section 27A of the Securities Act of 
      1933, as amended, and Section 21E of the Securities Exchange Act and the 
      Private Securities Litigation Reform Act of 1995. When the Bank uses or 
      incorporates by reference in this document the words "anticipate," 
      "estimate," "expect," "project," "intend," "commit," "believe" and 
      similar expressions, the Bank intends to identify forward-looking 
      statements. Our actual results may differ materially from those 
      projected in any forward-looking statements, as they will depend on many 
      factors about which we are unsure, including many factors which are 
      beyond our control.