First Pacific Bancorp Q4 Income Surges 15% to $12M, Exceeds Analysts' Estimates

[Para 1: The Lead] First Pacific Bancorp (FPB) reported a 15% increase in its fourth quarter earnings to $12 million, surpassing analysts' expectations of $10.5 million. The financial institution's strong performance is attributed to robust loan growth and improved net interest margin, bolstering its profitability. [Para 2-3: Supporting details & Context] FPB's net income for the quarter was $12 million, up from $10.4 million in the same period last year. The company's total assets grew by 8% to $1.8 billion, with loans and leases increasing by 12% to $1.2 billion. The bank's non-interest expense remained stable, contributing to higher earnings per share. FPB's stock (FPB) closed at $35.25 on the NASDAQ, reflecting investor confidence in the bank's financial health and growth prospects.