Pacific Commerce Bank reported that net income...

Pacific Commerce Bank reported that net income was $54,574 for the first quarter ended March 31, a 45% increase over the first quarter last year. Assets rose by 36% to $24.3 million and deposits increased by 41% to $19.9 million. Loans increased by 25% to $3.8 million.

Pacific Commerce Bank’s board of directors recently declared a 3% dividend payable on May 1 to shareholders of record on April 15.