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According to Pacific Mercantile Bancorp, the net loss in the first quarter of 2009 was primarily attributable to an increase in non-performing loans to $21.9 million at March 31, 2009, which compares to non-performing loans totaling $15.9 million at December 31, 2008 and $10.7 million at March 31, 2008.
Net interest income for the first quarter of 2009 declined 21.7% to $5.39 million from $6.88 million for the same quarter of 2008. Net interest margin was 1.92% versus 2.60% for the comparable quarter of 2008.
At March 31, 2009, total assets were $1.2 billion, compared to $1.1 billion as of March 31, 2008.
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The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
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