CommerceBancorp, a holding company for CommerceBank in...

CommerceBancorp, a holding company for CommerceBank in Newport Beach, posted net income of $640,000 for the third quarter, a 72% increase over $373,000 earned in last year’s third quarter. Quarterly revenue rose 24%, to $5.7 million from $4.6 million last year. For the first 9 months, the company reported net income of $1.7 million, a 55% increase over $1.1 million earned in the same period last year. Total revenue grew 20%, to $15.6 million for the first 9 months from $13 million in the same period last year. The company’s total assets rose 18%, to $237.7 million at the end of September from $200.6 million a year earlier. Total deposits grew 16%, to $219.6 million at the end of the period from $189.1 million a year earlier. Loans fell 4%, to $130.4 million from $136.3 million last year.