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Stock impact report

First Choice Bancorp Announces First Quarter of 2020 Financial Results

First Choice Bancorp (FCBP) 
Company Research Source: GlobeNewswire
Current Quarter Highlights  ?Net income of $4.5 million or $0.39 per diluted share    ?Net interest margin of 4.78%    ?Return on average assets and average equity of 1.06% and 6.90%    ?Provision for loan losses of $2.7 million including impact of COVID-19    ?Total loans held for investment increased $63.4 million, or 18.4% annualized    ?Noninterest-bearing demand deposits represented 46.5% of total deposits at March 31, 2020    ?Community bank leverage ratio (preliminary) was 11.73%    ?Quarterly cash dividend of $0.25 per share COVID-19 Response  ?Business Continuity Plan activated to allow remote work while ensuring high level of customer service    ?$10 thousand charitable donations made to several non-profit organizations in Los Angeles, Orange, and San Diego counties helping to fight hunger during the COVID-19 pandemic    ?Payment deferral program implemented where 90-day principal and/or interest deferrals were requested for over 500 loans Show less Read more
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