LOS ANGELES, CA--(Marketwire - Mar 30, 2012) - ProAmérica Bank (OTCQB: [ PMRA ]) (PINKSHEETS: [ PMRA ]) today reported results of operations for its fourth quarter ended December 31, 2011. Highlights include:

Total Loans at December 31, 2011 grew to $106.9 million, an increase of $25.7 million or 32% from December 31, 2010.
Capital ratios remain well in excess of all minimums required to be "Well Capitalized" by regulatory agencies, with a Tier 1 Leverage Ratio of 16.5% and a Total Risk-Based Capital Ratio of 20.2% at December 31, 2011. Regulatory "Well Capitalized" definitions are 5% for the Tier 1 Leverage Ratio and 10% for the Total Risk-Based Capital Ratio.
Total Assets at December 31, 2011 grew to $129.1 million, an increase of $12.4 million or 11% from December 31, 2010.
Total Deposits at December 31, 2011 grew to $105.8 million, an increase of $8.0 million or 8% from December 31, 2010.

ProAmérica Bank reported a net loss of $1,369,000 for the fourth quarter of 2011 ($0.50 per share) as compared to net income of $18,000 ($0.01 per share) in the fourth quarter of 2010. The Bank reported a net loss of $914,000 ($0.33 per share) for the year ended December 31, 2011 as compared to a loss of $506,000 ($0.18 per share) for the year ended December 31, 2010. The results for the quarter and year ended December 31, 2011 included the impact of a large provision for loan losses of $1,278,000 recorded in the fourth quarter. The provision for loan losses was primarily the result of one problem loan that arose in the fourth quarter.

The Allowance for Loan and Lease Losses represents 2.9% of total loans at December 31, 2011. Nonperforming assets, net of government guaranteed loans, totaled approximately $10.4 million, or 8.1% of assets at December 31, 2011. This represents an increase of $9.8 million over year ago levels. Approximately $5.6 million is paying as agreed. Management believes the Allowance for Loan and Lease Losses is sufficient in light of the higher level of problem loans compared to the previous year.

"We are pleased with the strong growth ProAmérica Bank has continued to show, especially in light of the weak economy," stated Maria Contreras-Sweet, Executive Chairwoman of ProAmérica Bank.

ProAmérica Bank also reported that John H. Quinn, President and CEO, retired from the Bank effective February 28, 2012, as previously announced. Frank Smith, the current Chief Financial Officer, and Stephen Rolfe, the current Chief Credit Officer, were appointed as Interim Co-CEO and President by the Board of Directors, subject to regulatory approval.

ProAmérica Bank provides a full range of financial services, including credit and deposit products, cash management, and internet banking for businesses and high net worth individuals from its headquarters office at 888 West Sixth Street, Second Floor, Los Angeles, CA 90017. Information on products and services may be obtained by calling (213) 613-5000 or visiting the Bank's website at [ www.proamericabank.com ].

NOTE:

This news release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections about ProAmérica Bank's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and the following: ProAmérica Bank's timely implementation of new products and services, technological changes, changes in consumer spending and savings habits and other risks discussed from time to time in ProAmérica Bank's reports and filings with banking regulatory agencies. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made, and ProAmérica Bank does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.



PROAMÉRICA BANK BALANCE SHEETS
(Dollars in thousands)

			December 31,			September 30,			December 31,
			2011			2011			2010
			Audited			Unaudited			Audited

Assets:
	Cash and Due From Banks		$	2,355		$	1,761		$	1,195
	Federal Funds Sold			9,935			20,205			25,145
	Interest-bearing Balances at Other Financial Institutions			9,902			8,182			9,181
		Total Cash and Cash Equivalents		22,192			30,148			35,521

	Loans Net of Deferred Loan Fees/Costs			106,860			100,018			81,168
	Allowance for Loan Losses			3,074			2,127			2,058
		Loans Net of Allowance for Loan Losses		103,786			97,891			79,110
	Premises and Equipment, net			918			119			408
	Federal Home Loan Bank Stock			418			418			364
	Other Real Estate Owned
	Accrued Interest Receivable and Other Assets			1,802			1,502			1,352

		Total Assets	$	129,116		$	130,078		$	116,755

Liabilities:
	Non-Interest-Bearing Demand Deposits		$	31,789		$	38,511		$	39,667

	Interest-Bearing Demand Deposits (NOW Deposits)			3,585			4,077			5,187
	Savings and Money Market			22,649			21,820			15,811
	Certificates of Deposit			47,732			42,227			37,092
		Total Interest-Bearing Deposits		73,966			68,124			58,090
		Total Deposits		105,755			106,635			97,757

	Other Borrowings
	Accrued Interest Payable and Other Liabilities			1,774			544			512

Total Liabilities				107,529			107,179			98,269

Shareholders' Equity:
	Common Stock			27,245			27,245			27,245
	Additional Paid in Capital			1,714			1,656			1,448
	Accumulated Deficit			(11,122	)		(9,752	)		(10,207	)
	SBLF Preferred Stock			3,750			3,750
		Total Shareholders' Equity		21,587			22,899			18,486

		Total Liabilities and Shareholders' Equity	$	129,116		$	130,078		$	116,755

Tier 1 Leverage Ratio				16.5	%		18.4	%		15.8	%
Tier 1 Risk-based Capital Ratio				19.0	%		21.4	%		21.0	%
Total Risk-based Capital Ratio				20.2	%		22.6	%		22.3	%



PROAMÉRICA BANK STATEMENTS OF OPERATIONS
For the Quarters Ended
(Dollars in thousands except per share data)

			December 31,			December 31,
			2011			2010
			Unaudited			Unaudited

Interest Income:
	Interest and Fees on Loans		$	1,357		$	1,324
	Interest on Federal Funds Sold			11			17
	Interest on Balances at Other Financial Institutions			17			29
		Total Interest Income		1,385			1,370

Interest Expense:
	Interest on Deposit Accounts			106			103

	Net Interest Income			1,279			1,267

Provison for Loan Losses				1,278

		Net Interest Income After Provision for Loan Losses		1			1,267

Non-Interest Income:
		Non-Interest Income		42			73

Non-Interest Expense:
	Salaries and Employee Benefits			699			720
	Stock Based Compensation Expense			67			67
	Occupancy Expense			229			229
	Operating Expense			417			306
		Total Non-Interest Expense		1,412			1,322

	Pre-tax Income (Loss)			(1,369	)		18

Provision for Income Taxes

	Net Income (Loss)		$	(1,369	)	$	18

	Net Income (Loss) per share - basic and diluted loss per share		$	(0.50	)	$	0.01



PROAMÉRICA BANK STATEMENTS OF OPERATIONS
For the Years Ended December 31
(Dollars in thousands except per share data)

			2011			2010
			Audited			Audited

Interest Income:
	Interest and Fees on Loans		$	5,778		$	4,800
	Interest on Federal Funds Sold			44			58
	Interest on Balances at Other Financial Institutions			77			112
	Dividends on FHLB and PCBB Stock			1			1
		Total Interest Income		5,900			4,971

Interest Expense:
	Interest on Deposit Accounts			402			482

	Net Interest Income			5,498			4,489

Provison for Loan Losses				1,544			62

	Net Interest Income After Provision for Loan Losses			3,954			4,427

Non-Interest Income:
		Non-Interest Income		604			338

Non-Interest Expense:
	Salaries and Employee Benefits			3,015			2,772
	Stock Based Compensation Expense			276			278
	Occupancy Expense			921			891
	Operating Expense			1,259			1,329
		Total Non-Interest Expense		5,471			5,270

	Pre-tax Loss			(913	)		(505	)

Provision for Income Taxes				1			1

	Net Loss		$	(914	)	$	(506	)

	Net Loss per share - basic and diluted loss per share		$	(0.33	)	$	(0.18	)

Contributing Sources

Market Wire

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PROAMERICA BANK Fourth Quarter 2011 Results Reflect Strong Capitalization and Growth

PROAMERICA BANK Fourth Quarter 2011 Results Reflect Strong Capitalization and Growth