American Commerce Bank Doubles Income

American Commerce National Bank in Costa Mesa posted a third- quarter net income of $109,000, contrasted with an $85,000 loss in last year’s third quarter. Its net income in the first nine months more than doubled to $552,000 from $213,000 in the same period last year.

The one-branch bank, which relies on a courier service to reach about 4,000 business customers from Encino to San Juan Capistrano, has been targeting the small-business market.

At the end of September, the bank’s total assets were $61.6 million, a 59% increase over its $38.7 million in assets a year earlier.

Its net loans in the nine-month period rose 69% to $44.3 million from $26.2 million, and its total deposits grew 62% to $57.3 million from $35.3 million.

The 2-year-old bank also has reduced its loans that are in foreclosure or more than 60 days past due, to 1.38% of assets from 2.33% a year earlier.