County Commerce Bank Reports Second Quarter Earnings and New Branch for 2015
(firmenpresse) - VENTURA, CA -- (Marketwired) -- 07/31/15 -- County Commerce Bank (OTCQB: CNYB), the only bank headquartered in Ventura County recognized by The Findley Reports as a "Super Premier Performing Bank" based on 2014 operating results, continued its strong earnings performance through the second quarter of 2015.
County Commerce Bank continues to post exceptionally strong earnings. Earnings for the six months ended June 30, 2015 were $1,040,000 compared to $945,000 through the second quarter 2014. Total assets were $252,547,000, a 6.8% increase over June 30, 2014. Total deposits were $216,159,000, a 3.4% increase over June 30, 2014. Capital for 2015 has increased by $1,074,000 ending at $23,531,000. Book value per common share increased to $9.85 compared to $8.98 at June 30, 2014. This represents a 9.7% increase.
The Bank's loan portfolio increased to $150,274,000 at the end of the second quarter 2015, compared to $130,480,000 at the end of the second quarter 2014, an increase of 15.2%. As Ventura County's premier community bank, County Commerce has consistently utilized its excellent liquidity and strong capital to strengthen the local community and its economy by providing much needed capital to local businesses and individuals. The bank currently has no nonaccrual loans.
Well positioned for continued growth as the largest and strongest community bank in Ventura County, County Commerce Bank will expand the bank's service area to Westlake Village in the third quarter 2015 with a full service branch and drive through. Existing customers and others from the East County have expressed their desire for a community bank. County Commerce Bank has a proven record of excellence in providing the high level of service expected from a community bank along with the means and ability to assist customers with their goals.
Based on 2014 financial results, Ventura County's award winning and locally owned County Commerce Bank has been recognized by financial industry ratings organizations as one of the nation's best performing banks and one of the highest rated banks on California's central coast. County Commerce Bank was nationally recognized by American Banker magazine as one of the Top 200 Community Banks (ranked by 3-year Average ROE). County Commerce Bank, the only bank headquartered in Ventura County, is ranked 20th among those California banks included on the list of the Top 200 Community Banks because of its Return on Average Equity (ROE) over the past three years of 9.42%. The bank was also voted Favorite Bank in West Ventura County 2015 by the Ventura County Star Newspaper for the third consecutive year.
For the 41st consecutive quarter, the bank earned BauerFinancial's Five Star "Superior" rating which indicates that County Commerce Bank is one of strongest financial institutions in the nation. President and Chief Executive Officer Joseph D. Kreutz stated, "I am very pleased that the bank continues to perform so well. We have consistently exceeded expectations and our strong foundation enables us to maintain this high level of performance. With our high quality core deposits providing significant liquidity, we are set to continue strong earnings well into the future. The new branch in Westlake Village will further assist us in growing organically; loans and services to individuals and businesses right here in Ventura County are much preferred over purchasing loan packages from other areas. We are looking forward to bringing community banking at its best back to the Westlake Village community."
Recap of Recent Awards as of June 30, 2015:
Super Premier Performing Bank or Premier Performing Bank by The Findley Reports for the past ten consecutive years.
Five-Star "Superior" rating by BauerFinancial Inc., for more than 41 consecutive quarters.
Recognized by American Banker magazine as one of the Top 200 Community Banks in the nation based on three year average ROE.
County Commerce Bank was founded by local professionals and business leaders in Ventura County in January 2003. The Bank currently maintains branches in Ventura, Oxnard and Camarillo. County Commerce will open a fourth branch in Westlake Village during the third quarter 2015. The bank is member of the FDIC, an SBA Preferred Lender and a CDARS depository institution. County Commerce Bank provides financial solutions for local professionals and small businesses, offering its customers state of the art technology services along with a traditional, personalized banking experience. County Commerce Bank stock is traded on the OTC Markets Group (OTCQB); our Ticker Symbol is CNYB.
County Commerce Bank's stock is traded through Market Maker:
Crowell, Weedon & Co.
Community Bank Group
Michael R. Natzic, Senior Vice President/Branch Manager
Member FINRA - Member SIPC
P.O. Box 1688
Big Bear Lake, CA 92315
(800) 288-2811
The Bank's web site is .
Statements concerning future performance, developments or events concerning expectations for growth and market forecasts, and any other guidance on future periods, constitute forward looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, the effect of interest rate changes, the ability to control costs and expenses, the impact of consolidation in the banking industry, financial policies of the United States government, and general economic conditions.
Contact:
Joseph D. Kreutz
3260 Telegraph Road
Ventura, CA 93003
(805) 477-7601
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 31.07.2015 - 12:00 Uhr
Sprache: Deutsch
News-ID 410676
Anzahl Zeichen: 0
contact information:
Town:
VENTURA, CA
Kategorie:
Commercial & Investment Banking
Diese Pressemitteilung wurde bisher 238 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"County Commerce Bank Reports Second Quarter Earnings and New Branch for 2015"
steht unter der journalistisch-redaktionellen Verantwortung von
County Commerce Bank (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
