Earnings Up for California Commercial Bankshares
California Commercial Bankshares and its principal subsidiary, National Bank of Southern California, said it posted net income of $188,662 for the first quarter, ended March 31, an increase of 24.8% over earnings of $151,193 in last year’s first quarter. The bank’s share of the net income was $176,652, a 16.6% increase over $151,478 a year earlier.
Total corporate assets at the end of the quarter rose 28% to $93.7 million from $73.2 million. The bank’s assets rose 27.9% to $92.9 million from $72.6 million. The bank’s ratio of capital to assets at the end of the quarter was 7.7%, well above the 6% level required by federal regulators.
Total deposits at the bank rose 30.4% to $83.2 million from $63.8 million, while the bank’s total loans rose 46.8% to $67.4 million from $45.9 million.