1st Capital Bank Announces First Quarter 2020 Financial Results Record Loan Portfolio

SALINAS, CA / ACCESSWIRE / April 30, 2020 / 1st Capital Bank (OTC PINK:FISB) reported unaudited net income of $608 thousand for the three months ended March 31, 2020, a decrease of 65.8% compared to net income of $1.78 million in the first quarter of 2019 and a decrease of 65.0% compared to income of $1.73 million in the fourth quarter of 2019, the immediately preceding quarter. Earnings per share were $0.11 (diluted) for the first quarter of 2020, compared to $0.31 (diluted) for the prior quarter, and $0.32 (diluted) for the first quarter of 2019.

“The first quarter of 2020 marked the beginning of a humanitarian crisis unlike any the world has suffered for nearly 100 years,” said Chairman of the Board Kurt J. Gollnick. “In response, 1st Capital Bank stepped forward with actions to benefit our customers, our employees, and our communities. As we entered the second quarter, our employees were working tirelessly to make credit available to hard-hit small businesses through the U.S. Small Business Administration’s Paycheck Protection Program. Through April 26, 2020, we had processed more than 300 applications from local businesses and funded more than $90 million under the PPP. Forbearance is being extended to our home mortgage borrowers. We have provided salary continuation for our employees who have new-found obligations to care for family members during the crisis, and paid a special bonus to each of our hourly employees to help them cope with the often devastating impact of the crisis on their livelihoods. We have transitioned more than 65% of our employees to working remotely and have taken measures to protect those who continue to make themselves available to serve our customers through our branch network. And we have continued our ongoing programs to donate to local not-for-profit organizations and compensate employees for time spent volunteering.”

Operating results reflect a provision for loan losses of $825 thousand to recognize incurred losses in the Bank’s loan portfolio, which are attributable primarily to the COVID-19 outbreak and consequent action taken by governmental officials to curtail the operations of businesses deemed nonessential.

“During the first quarter, the economic environment shifted radically, and capital preservation is now the Bank’s number one business priority,” said Samuel D. Jimenez, chief executive officer. “We have sharpened our lenders’ focus on minimizing the effect of the current economic environment on the credit quality of our loan portfolio, including thoughtful efforts to mitigate exposure in the early stages of delinquency, when positive outcomes are most likely, and assistance to borrowers who wish to avail themselves of the relief available under the PPP.”

“Although the level of loan delinquency was limited at quarter-end, we recognize that deterioration in credit metrics attributable to the coronavirus outbreak is highly likely, since they are lagging indicators,” said Dale R. Diederick, chief credit officer. “Therefore, we have taken steps to provide for losses that are reasonably estimable, although definitive information on losses that ultimately will occur is extremely limited at this time.”

First Quarter Highlights:

  • Return on average equity was 3.53%, compared to 10.21% for the fourth quarter of 2019 and 11.95% for the first quarter of 2019.
  • Return on average assets was 0.38%, compared to 1.11% for the fourth quarter of 2019 and 1.15% for the first quarter of 2019.
  • Gross loans receivable increased 3.8%, from $511 million at December 31, 2019 to $530 million at March 31, 2020.
  • Customers drew down $9.4 million on commercial lines of credit, driving a $9.4 million, or 22.8%, increase in commercial and industrial loans outstanding.
  • Non-accrual loans were $492 thousand, or 0.09% of loans outstanding, at March 31, 2020, compared to $492 thousand at December 31, 2019. Loans 30 to 89 days delinquent increased from $634 thousand to $856 thousand during the first quarter, and no loans on accrual status were more than 90 days past due.
  • Sources of liquidity comprising secured borrowing capacity with the Federal Home Loan Bank of San Francisco and deposits eligible to be moved onto the Bank’s balance sheet in the form of reciprocal deposits totaled $161 million at March 31, 2020. $25 million of additional liquidity under Federal funds facilities also was available.
  • Deposits totaled $572 million at each of March 31, 2020 and December 31, 2019.
  • Non-interest income declined from $305 thousand in the fourth quarter of 2019 to $288 thousand in the first quarter of 2020.
  • Non-interest expenses increased from $3.75 million in the fourth quarter of 2019 to $4.49 million in the first quarter of 2020.
  • The Bank’s common equity Tier 1 (CET1) risked-based capital ratio was 13.66%, and its Tier 1 leverage ratio was 10.77% at March 31, 2020.
  • Net interest margin decreased from 3.89% in the fourth quarter of 2019 to 3.87% in the first quarter of 2020.

“The Bank entered the second quarter well positioned to meet the liquidity and capital requirements that active participation in the PPP entails,” said Michael J. Winiarski, executive vice president and chief financial officer. “We believe the program will allow those small businesses who participate to mitigate their exposure to the steep declines in revenues that many of them face, and we are committed to partnering with them to make this a reality.”

Total assets increased $0.5 million in the first quarter, from $645.3 million at December 31, 2019 to $645.8 million at March 31, 2020. Net loans increased $18.8 million, or 3.7%, during the first quarter, from $504.3 million at December 31, 2019 to $523.1 million at March 31, 2020. Growth was concentrated in the commercial real estate portfolio, which grew $14.8 million, and commercial and industrial loans, which increased $9.4 million.

Undrawn lines totaled $67.8 million at March 31, 2020, and consisted of the following: commercial and industrial, $33.2 million; agricultural production, $11.8 million; home equity lines of credit, $10.2 million; construction, $6.0 million; other real estate, $5.5 million; and other loans, $1.1 million. Through April 26, 2020, line utilization increased to 55.8% from 55.4% at March 31, 2020.

Paycheck Protection Program loans funded through April 26, 2020 totaled $92.5 million, comprising 240 loans totaling $25.7 million with principal amounts of $350,000 or less; 58 loans totaling $45.0 million with principal amounts over $350 thousand and under $2.0 million; and six loans totaling $21.8 million with principal amounts of $2.0 million or more.

Total deposits were substantially unchanged at $572.0 million as of March 31, 2020 and $572.1 million as of December 31, 2019. Noninterest-bearing demand deposit accounts (“DDAs”) experienced a seasonal decline of $27.9 million, or 9.9%, from $280.6 million at December 31, 2019 to $252.8 million at March 31, 2020. DDAs decreased $15.4 million, or 5.8%, compared to March 31, 2019 levels. Average DDAs were $262.4 million in first quarter of 2020, compared to $276.0 million in the first quarter of 2019 and $269.6 million in the fourth quarter of 2019.

NET INTEREST INCOME BEFORE PROVISION FOR CREDIT LOSSES

Net interest income before provision for credit losses was $5.86 million in the first quarter of 2020, an increase of $56 thousand, or 1.0%, compared to $5.81 million in the fourth quarter of 2019 and a decrease of $315 thousand, or 5.1%, compared to $6.18 million in the first quarter of 2019.

Average earning assets were $609.6 million during the first quarter of 2020, an increase of 2.4% compared to $595.3 million in the fourth quarter of 2019. The yield on earning assets was 4.07% in the first quarter of 2020, compared to 4.17% in the fourth quarter of 2019, primarily due to reduced yields on commercial and industrial loans and the investment portfolio as a result of the 1.50% decrease in the Federal funds target rate in March 2020. The average balance of the investment portfolio decreased $2.5 million, from $67.7 million in the fourth quarter of 2019 to $65.2 million in the first quarter of 2020. The yield on the investment portfolio decreased from 2.66% in the first quarter of 2019 to 2.46% in the fourth quarter of 2019 and 2.33% in the first quarter of 2020, as yields on floating-rate securities decreased.

The yields on commercial and industrial and commercial real estate loans in first quarter of 2020 were 5.48% and 4.83% on average balances of $43.8 million and $237.6 million, respectively, compared to 5.21% and 4.89% on average balances of $39.4 million and $222.2 million, respectively, in the fourth quarter of 2019. The portfolio of single-family residential mortgages, which yielded 3.61% and 3.45% on average balances of $143.6 million and $147.9 million in the first quarter of 2020 and the fourth quarter of 2019, respectively, declined $4.0 million, or 2.8% during the first quarter of 2020.

The cost of interest-bearing liabilities was 0.44% in the first quarter of 2020 and in the fourth quarter of 2019, while the average balance of interest-bearing liabilities increased 7.0% from $277.5 million in the fourth quarter of 2019 to $297.0 million in the first quarter of 2020, as the Bank actively managed its balance sheet, primarily with the placement of large deposits into the Insured Cash Sweep (“ICS”) program. The average balance of noninterest-bearing demand deposit accounts decreased from $275.9 million, or 49.0% of total deposits, in the first quarter of 2019 to $269.6 million, or 49.3% of total deposits, in the fourth quarter of 2019 and $262.4 million, or 46.9% of total deposits, in the first quarter of 2020. The Bank’s overall cost of funds increased from 0.20% in the first quarter of 2019 to 0.23% in the fourth quarter of 2019 and 0.23% in the first quarter of 2020.

PROVISION FOR CREDIT LOSSES

The provision for credit losses is a charge against current earnings in an amount determined by management to be necessary to maintain the allowance for loan losses at a level sufficient to absorb estimated probable losses inherent in the loan portfolio in light of losses historically incurred by the Bank and adjusted for qualitative factors associated with the loan portfolio.

The Bank recorded a provision for loan losses of $825 thousand in the first quarter of 2020, compared with no provision in the first quarter of 2019 or the fourth quarter of 2019. Although the level of criticized assets, the mix of loan types within the portfolio and their respective historical loss rates, and management’s assessment of the amounts expected to be realized from certain loans identified as impaired were largely unchanged, management recognized that economic conditions had deteriorated by March 31, 2020 and adjusted the qualitative factors used to compute the allowance for loan and lease losses upward. In particular, the qualitative factor for economic conditions was adjusted to estimate the effect of the coronavirus outbreak on the loan portfolio. Impaired loans totaled $630 thousand at March 31, 2020, compared to $652 thousand at December 31, 2019 and $279 thousand at March 31, 2019. The amount of impairment was $326 thousand at March 31, 2020, compared to $13 thousand at March 31, 2019 and $326 thousand December 31, 2019.

At March 31, 2020, non-performing loans were 0.09% of the Bank’s loan portfolio, compared with 0.10% at December 31, 2019, and zero at March 31, 2019. At March 31, 2020, the allowance for loan losses was 1.40% of outstanding loans, compared to 1.29% at December 31, 2019 and 1.36% at March 31, 2019, respectively. The Bank recorded net recoveries of $12 thousand in each of the first quarter of 2020, the fourth quarter of 2019, and the first quarter of 2019.

NON-INTEREST INCOME

Non-interest income recognized in the first quarter of 2020 was $288 thousand, compared to $305 thousand in the fourth quarter of 2019. A $37 thousand decline in ICS fee income was the primary cause of the decrease.

NON-INTEREST EXPENSES

Non-interest expenses increased $750 thousand, or 20.0%, to $4.49 million in the first quarter of 2020, compared to $3.75 million for the fourth quarter of 2019, and increased $255 thousand, or 6.0%, compared to $4.24 million recognized in the first quarter of 2019.

Salaries and benefits increased $687 thousand, or 32.1%, to $2.82 million in the first quarter of 2020 from $2.14 million in the fourth quarter of 2019, and increased $150 thousand, or 5.6%, compared to $2.67 million in the first quarter of 2019. Employee salaries and bonuses increased $223 thousand, or 11.1%, sequentially and $161 thousand, or 7.7%, year over year. Health insurance premiums increased $47 thousand, or 24.4%, sequentially and $47 thousand, or 24.2%, year over year. The increase in salaries and benefits also included payments aggregating $234 thousand to the Bank’s former chief executive officer in connection with his retirement and seasonal increases in payroll taxes. In addition, the absorption of direct loan origination costs decreased $143 thousand sequentially, reflecting the larger average size of loans originated in the first quarter of 2020.

The efficiency ratio (non-interest expenses divided by the sum of net interest income before provision for loan losses and non-interest income) was 73.1% for the first quarter of 2020, compared to 61.3% for the fourth quarter of 2019 and 63.7% for the first quarter of 2019. Annualized non-interest expenses as a percent of average total assets were 2.85%, 2.45%, and 2.74% for the first quarter of 2020, the fourth quarter of 2019, and the first quarter of 2019, respectively.

About 1st Capital Bank

The Bank’s primary target markets are commercial enterprises, professionals, real estate investors, family business entities, and residents along the Central Coast region of California. The Bank provides a wide range of credit products, including loans under various government programs such as those provided through the U.S. Small Business Administration and the U.S. Department of Agriculture. A full suite of deposit accounts also is furnished, complemented by robust cash management services. The Bank operates full service branch offices in Monterey, Salinas, King City, and San Luis Obispo and a loan production office in Santa Cruz County. The Bank’s corporate offices are located at 150 Main Street, Suite 150, Salinas, California 93901. The Bank’s website is www.1stCapital.bank. The main telephone number is 831.264.4000. The primary facsimile number is 831.264.4001. Member FDIC / Equal Opportunity Lender / SBA Preferred Lender

Forward-Looking Statements

Certain of the statements contained herein that are not historical facts are “forward-looking statements” within the meaning of and subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may contain words or phrases including, but not limited, to: “believe,” “expect,” “anticipate,” “intend,” “estimate,” “target,” “plans,” “may increase,” “may fluctuate,” “may result in,” “are projected,” and variations of those words and similar expressions. All such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that might cause such a difference include, among other matters, changes in interest rates; economic conditions including inflation and real estate values in California and the Bank’s market areas; governmental regulation and legislation; credit quality; competition affecting the Bank’s businesses generally; the risk of natural disasters and future catastrophic events including pandemics, terrorist related incidents and other factors beyond the Bank’s control; and other factors. The Bank does not undertake, and specifically disclaims any obligation, to update or revise any forward-looking statements, whether to reflect new information, future events, or otherwise, except as required by law.

This news release is available at the www.1stCapital.bank internet site for no charge.

For further information, please contact:

Samuel D. Jimenez
Chief Executive Officer
831.264.4057 office
Sam.Jimenez@1stCapitalBank.com

or

Michael J. Winiarski
Chief Financial Officer
831.264.4014 office
Michael.Winiarski@1stCapitalBank.com

— financial data follow —

1ST CAPITAL BANK
CONDENSED FINANCIAL DATA
(Unaudited)
(Dollars in thousands, except per share data)

 
  March 31,     December 31,     September 30,     March 31,  
Financial Condition Data1
  2020     2019     2019     2019  
Assets
                       
Cash and due from banks
  $ 6,582     $ 6,198     $ 5,947     $ 6,569  
Funds held at the Federal Reserve Bank2
    30,071       46,155       47,529       60,979  
Available-for-sale securities, at fair value
    63,728       66,095       68,386       69,320  
Loans receivable held for investment:
                               
Construction / land (including farmland)
    21,193       19,457       18,602       20,189  
Residential 1 to 4 units
    136,014       140,623       141,907       139,765  
Home equity lines of credit
    7,656       6,964       7,158       8,676  
Multifamily
    57,900       59,830       54,324       54,586  
Owner occupied commercial real estate
    73,488       70,622       63,587       61,775  
Investor commercial real estate
    171,266       159,350       153,849       141,452  
Commercial and industrial
    50,460       41,100       38,801       42,098  
Other loans
    12,510       12,943       16,042       14,724  
Total loans
    530,487       510,889       494,270       483,265  
Allowance for loan losses
    (7,431 )     (6,594 )     (6,582 )     (6,560 )
Net loans
    523,056       504,295       487,688       476,705  
Premises and equipment, net
    2,189       2,102       2,131       1,996  
Bank owned life insurance
    8,119       8,071       8,020       7,916  
Investment in FHLB3 stock, at cost
    3,501       3,501       3,501       3,163  
Accrued interest receivable and other assets
    8,514       8,930       14,254       7,780  
Total assets
  $ 645,760     $ 645,347     $ 637,456     $ 634,428  
 
                               
Liabilities and shareholders’ equity
                               
Deposits:
                               
Noninterest bearing demand deposits
  $ 252,760     $ 280,634     $ 255,369     $ 268,195  
Interest bearing checking accounts
    41,857       35,804       47,148       35,832  
Money market deposits
    158,178       128,559       140,515       134,044  
Savings deposits
    99,789       107,677       103,224       110,877  
Time deposits
    19,400       19,395       19,399       18,953  
Total deposits
    571,984       572,069       565,655       567,901  
Accrued interest payable and other liabilities
    4,961       5,263       5,466       4,818  
Shareholders’ equity
    68,815       68,015       66,335       61,709  
Total liabilities and shareholders’ equity
  $ 645,760     $ 645,347     $ 637,456     $ 634,428  
 
                               
Shares outstanding
    5,528,218       5,520,179       5,502,514       5,477,072  
Nominal and tangible book value per share
  $ 12.45     $ 12.32     $ 12.06     $ 12.06  
Ratio of net loans to total deposits
    91.45 %     88.15 %     86.22 %     83.94 %
 
                               

1 = Loans receivable held for investment are presented according to definitions applicable to the regulatory Call Report.
2 = Includes cash letters in the process of collection settled through the Federal Reserve Bank.
3 = Federal Home Loan Bank
4 = Some items in prior periods have been reclassified to conform to the current presentation.

1ST CAPITAL BANK
CONDENSED FINANCIAL DATA
(Unaudited)
(Dollars in thousands, except per share data)

 
  Three Months Ended  
 
  March 31,     December 31,     September 30,     March 31,  
Operating Results Data
  2020     2019     2019     2019  
Interest and dividend income
                       
Loans
  $ 5,683     $ 5,556     $ 5,578     $ 5,681  
Investment securities
    375       410       442       456  
Other
    130       153       249       315  
Total interest and dividend income
    6,188       6,119       6,269       6,452  
Interest expense
                               
Interest bearing checking
    3       3       3       3  
Money market deposits
    175       159       125       129  
Savings deposits
    89       93       88       91  
Time deposits
    56       55       62       49  
Total interest expense
    323       310       278       272  
Net interest income
    5,865       5,809       5,991       6,180  
Provision for loan losses
    825                    
Net interest income after provision
                               
for loan losses
    5,040       5,809       5,991       6,180  
 
                               
Noninterest income
                               
Service charges on deposits
    94       76       88       76  
BOLI dividend income
    48       50       52       51  
Gain on sale of loans
                33       8  
Gain on sale of investments
                60        
Other
    146       179       372       339  
Total noninterest income
    288       305       605       474  
 
                               
 
1ST CAPITAL BANK
CONDENSED FINANCIAL DATA
(Unaudited)
(Dollars in thousands, except per share data)
 
 
  Three Months Ended  
 
  March 31,     December 31,     September 30,     March 31,  
 
  2020     2019     2019     2019  
Noninterest expenses
                       
Salaries and benefits
    2,824       2,137       2,452       2,674  
Occupancy
    363       331       372       306  
Data and item processing
    221       231       220       215  
Furniture and equipment
    191       169       150       157  
Professional services
    161       235       143       130  
Provision for unfunded loan
                               
commitments
    (17 )     12       (7 )     (15 )
Other
    752       630       630       773  
Total noninterest expenses
    4,495       3,745       3,960       4,240  
Income before provision for income taxes
    833       2,369       2,636       2,414  
Provision for income taxes
    225       634       698       638  
Net income
  $ 608     $ 1,735     $ 1,938     $ 1,776  
 
                               
Common Share Data1
                               
Earnings per common share
                               
Basic
  $ 0.11     $ 0.32     $ 0.35     $ 0.32  
Diluted
  $ 0.11     $ 0.31     $ 0.35     $ 0.32  
 
                               
Weighted average common shares outstanding
                               
Basic
    5,521,518       5,506,349       5,492,657       5,468,109  
Diluted
    5,582,687       5,584,827       5,578,507       5,549,872  
 
                               

1 = Earnings per common share and weighted average common shares outstanding have been restated to reflect the effect of the 7% stock dividend to shareholders of record November 22, 2019 and paid December 20, 2019.

1ST CAPITAL BANK
CONDENSED FINANCIAL DATA
(Unaudited)
(Dollars in thousands)
 
  March 31,     December 31,     September 30,     March 31,  
Asset Quality
  2020     2019     2019     2019  
Loans past due 90 days or more and accruing
                       
interest
  $     $     $     $  
Nonaccrual restructured loans
                       
Other nonaccrual loans
    492       492             – 2,906  
Other real estate owned
                       
 
  $ 492     $ 492     $     $  
Allowance for loan losses to total loans
    1.40 %     1.29 %     1.33 %     1.36 %
Allowance for loan losses to nonperforming loans
    1510.37 %     1340.24 %     n/a       n/a  
Nonaccrual loans to total loans
    0.09 %     0.10 %     0.00 %     0.00 %
Nonperforming assets to total assets
    0.08 %     0.08 %     0.00 %     0.00 %
 
                               
Regulatory Capital and Ratios
                             
Common equity tier 1 capital
  $ 68,150     $ 67,471     $ 65,536     $ 61,585  
Tier 1 regulatory capital
  $ 68,150     $ 67,471     $ 65,536     $ 61,585  
Total regulatory capital
  $ 74,404     $ 73,487     $ 71,377     $ 67,209  
Tier 1 leverage ratio
    10.77 %     10.90 %     10.67 %     9.79 %
Common equity tier 1 risk based capital ratio
    13.66 %     14.04 %     14.05 %     13.72 %
Tier 1 risk based capital ratio
    13.66 %     14.04 %     14.05 %     13.72 %
Total risk based capital ratio
    14.91 %     15.29 %     15.30 %     14.97 %
 
  Three Months Ended  
 
  March 31,     December 31,     September 30,     March 31,  
Selected Financial Ratios1
  2020     2019     2019     2019  
Return on average total assets
    0.38 %     1.11 %     1.25 %     1.15 %
Return on average shareholders’ equity
    3.53 %     10.21 %     11.79 %     11.95 %
Net interest margin2
    3.87 %     3.89 %     4.05 %     4.12 %
Net interest income to average total assets
    3.71 %     3.72 %     3.87 %     3.99 %
Efficiency ratio
    73.06 %     61.25 %     60.04 %     63.73 %
 
                               

1 = All Selected Financial Ratios are annualized other than the Efficiency Ratio.
2 = Net interest margin calculated on a tax equivalent yield basis. Prior periods have been updated to conform to current presentation.

 
  Three Months Ended  
 
  March 31,     December 31,     September 30,     March 31,  
Selected Average Balances
  2020     2019     2019     2019  
Gross loans
  $ 519,468     $ 501,995     $ 481,402     $ 487,838  
Investment securities
    65,163       67,695       68,949       69,553  
Other interest earning assets
    24,964       25,572       38,721       53,941  
Total interest earning assets
  $ 609,595     $ 595,262     $ 589,072     $ 611,333  
Total assets
  $ 633,623     $ 620,218     $ 614,674     $ 628,320  
 
                               
Interest bearing checking accounts
  $ 42,092     $ 38,440     $ 42,295     $ 34,268  
Money market deposits
    132,363       113,313       113,151       127,762  
Savings deposits
    103,156       106,293       111,502       107,158  
Time deposits
    19,367       19,484       19,933       18,099  
Total interest bearing deposits
    296,978       277,530       286,881       287,289  
Noninterest bearing demand deposits
    262,416       269,597       256,989       275,956  
Total deposits
  $ 559,394     $ 547,127     $ 543,870     $ 563,245  
Borrowings
  $     $     $     $  
Shareholders’ equity
  $ 69,006     $ 67,381     $ 65,219     $ 60,286  

1ST CAPITAL BANK
CONDENSED FINANCIAL DATA
(Unaudited)
(Dollars in thousands)

Real Estate Loans
  Original Loan-to-Value Ratio                          
 
  Average     Median     Maximum                          
Construction/land
    29.28 %     31.07 %     67.94 %                                
Residential 1 to 4 units
    54.39 %     29.84 %     79.17 %                                
Home equity lines of credit
    23.13 %     29.23 %     75.00 %                                
Multifamily
    41.69 %     28.99 %     71.12 %                                
Owner occupied CRE
    46.72 %     30.68 %     82.06 %                                
Investor CRE
    42.01 %     30.80 %     78.78 %                                
 
                                                       
 
                                                       
 
 
  Original Loan-to-Value Ratio  
      Under 50%       50%-60%       60%-70%       70%-75%       75%-80%       Over 80%       March 31, 2020  
Construction/land
  16,261     3,935     997                 21,193  
Residential 1 to 4 units
    40,092       40,268       36,488       11,186       7,980             136,014  
Home equity lines of credit
    5,492       947       562       655                   7,656  
Multifamily
    26,691       15,329       14,579       1,301                   57,900  
Owner occupied CRE
    30,534       19,979       16,327       6,000             648       73,488  
Investor CRE
    100,724       44,007       19,480       3,862       3,193             171,266  
 
  219,794     124,465     88,433     23,004     11,173     648     467,517  

SOURCE: 1st Capital Bank

 

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https://www.accesswire.com/587901/1st-Capital-Bank-Announces-First-Quarter-2020-Financial-Results-Record-Loan-Portfolio

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