CommerceBancorp, the parent firm of CommerceBank in...

CommerceBancorp, the parent firm of CommerceBank in Newport Beach, reported net income of $811,000 for the first quarter, an 87% increase over $433,000 earned in last year’s first quarter. Quarterly revenue rose 36%, to $6.4 million this year from $4.7 million last year. The company’s assets were $224 million at the end of March, a 8% increase over $206.6 million a year earlier. Total deposits grew 4%, to $200.4 million at the end of the period from $191.9 million a year earlier, while the loan portfolio fell 1%, to $139.8 million from $141.4 million.