CommerceBancorp, the holding company for CommerceBank in...

CommerceBancorp, the holding company for CommerceBank in Newport Beach, posted net income of $645,000 for the second quarter, a 56% increase over $413,000 earned in last year’s second quarter. Revenue rose 16% to $5.1 million this year from $4.4 million last year. The bank’s assets increased 20% to $247.7 million at the end of June from $206.7 million a year earlier. Deposits grew 18% to $227.6 million at the end of the period from $192.2 million a year earlier, while the loan portfolio grew 3% to $134.9 million this year from $130.4 million last year.