AltaPacific Bancorp: Strong Capital Position, Long History of Profitability

AltaPacific Bancorp


AltaPacific Bancorp (PINK:ABNK), an independent commercial bank, provides personal and business banking services to businesses, professionals, and consumer banking customers primarily in Sonama County, California. The company was formerly known as Atlantic Pacific Bank and changed its name to AltaPacific Bancorp in August 2009. AltaPacific Bancorp (PINK:ABNK) was founded in 2006 and is headquartered in Santa Rosa, California.

Stock Snapshot:

As of Oct 26th 2012, the stock for AltaPacific Bancorp (PINK:ABNK) stood at USD 6.48 representing a market capitalization of USD 20.63 million. Over the last one year the stock has traded between a range of USD 6.10 and USD 9.05.

Competitor Analysis:

Zions Bancorporation (NASDAQ:ZION), a bank and financial holding company, provides a range of banking and related services in the United States. The company offers community banking services, including small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash management and related products and services; residential mortgage; trust and wealth management; and investment activities. As of Oct 26’ 2012, the stock stood at USD 21.22 with total market capitalization of USD 3.91 billion. The stock has been trading at a P/E ratio of 20.87.

East West Bancorp, Inc. (NASDAQ:EWBC) operates as the holding company for East West Bank, which provides a range of personal and commercial banking services to small and medium-sized businesses, business executives, professionals, and other individuals in California. As of Oct 26th ’ 2012, the stock for the Company stood at USD 21.61 with total market capitalization of USD 2.99 billion. The stock has been trading at a P/E ratio of 11.71.

Financial Snapshot:

For 9MFY12, the Company reported total net income of USD 1.205 million. Total assets were recorded at USD 222.08 million ; representing an increase of 4.4% over 2QFY12. Gross loans totaled USD 98.5 million representing a 14% decrease over 2QFY12. Compared to 2QFY12, total deposits increased by 7.9% to USD 168.5 million.

Factors to Watch Out:

  • Strong Capital position!
  • Long history of profitability!