Welcome to our dedicated page for Chino Commercial news (Ticker: CCBC), a resource for investors and traders seeking the latest updates and insights on Chino Commercial stock.
Chino Commercial Bancorp (OTC: CCBC) is the parent company of Chino Commercial Bank, N.A., a commercial banking organization based in Chino, California. This news page focuses on company announcements and financial updates that reflect the bank’s operations in deposits, loans, and fee-based services.
Readers can find coverage of quarterly and year-to-date earnings results, where the company reports net income, net interest income, noninterest income, and key performance ratios such as return on average equity, return on average assets, and net interest margin. These releases also discuss trends in total assets, total deposits, gross loans, and shareholders’ equity.
News items highlight developments in the bank’s branch network, including the operation of full-service branches in Chino, Ontario, Rancho Cucamonga, and Upland, and the opening of a fifth location in Corona. Management commentary often addresses loan quality, noting levels of delinquent and non-performing loans, allowance for credit losses, and other credit quality indicators.
Updates also cover noninterest income sources such as service charges and fees on deposit accounts, interchange fees, earnings from bank-owned life insurance, and merchant services processing revenue. The company’s Merchant Services program, which provides credit card processing services for customers, is a recurring topic in its communications.
In addition, corporate actions such as the approval of a 20% stock dividend and the history of stock dividends since inception are included in prior announcements. Investors and observers who follow CCBC news can use this page to review the company’s reported financial condition, operational changes, and board decisions over time.
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Chino Commercial Bancorp (OTC: CCBC) reported a strong performance for the first quarter of 2023, with net earnings of $1.2 million, up 29.8% from $900 thousand a year earlier. Earnings per share rose to $0.44 from $0.34 in the same period last year. Despite challenges in the banking sector, the company's loan quality remains robust. Total assets increased to $439.3 million, marking a 10.0% rise compared to $399.8 million at the end of 2022, while total deposits decreased by 5.5% to $318.8 million.
Net interest income rose to $3.1 million from $2.7 million, but the net interest margin fell to 3.37% from 4.17%. Non-interest income increased 16.2% to $594.8 thousand. Overall, the bank maintains a positive outlook despite rising operational costs and potential market challenges.
Chino Commercial Bank, a subsidiary of Chino Commercial Bancorp (OTC: CCBC), has been awarded the highest rating of Super Premier Performing Bank by The Findley Reports on Financial Institutions. This recognition reflects the bank's exceptional financial and operational performance in 2022, assessed through factors such as profitability, return on equity, and loan performance. President and CEO Dann H. Bowman expressed satisfaction with the accolade, highlighting the bank's increased revenue, earnings per share, and strong credit performance throughout the year. The bank maintains a robust capital position and low loan losses, positioning it well to serve local consumers and businesses effectively.
The Board of Directors of Chino Commercial Bancorp (OTC: CCBC) announced a strong performance for the fourth quarter of 2022, reporting net earnings of $1.3 million, a remarkable increase of 84.6% year-over-year. Earnings per share rose to $0.49 from $0.26. For the entire fiscal year, net earnings surged by 50.5% to $4.7 million, with earnings per share at $1.76, up from $1.17 in 2021. Total assets grew by 5.6% to $399.7 million, while total deposits increased by 5.8% to $337.5 million. Despite concerns about economic weakness, the bank anticipates growth opportunities through new products and services for small businesses.
Chino Commercial Bancorp (OTC: CCBC) reported strong third-quarter earnings for 2022, with net earnings of $1.3 million, up 77.2% from $718 thousand a year ago. The earnings per share increased to $0.48 from $0.27. Total assets rose to $416.6 million, a 10.1% increase over the year. Deposits also grew by 11.6% to $355.9 million. Net interest income climbed to $3.3 million and non-interest income rose by 11.7%. Despite economic concerns, the company reported minimal credit quality issues with only one delinquent loan. Overall, the financial outlook remains positive.
Chino Commercial Bancorp (OTC: CCBC) reported net earnings of $1.2 million for Q2 2022, a 42.4% increase from $867 thousand in Q2 2021. Earnings per share rose to $0.46, up from $0.32. Total assets increased by 7.5% to $406.8 million, with total deposits rising by 8.8% to $347.1 million. Net interest income improved to $3.3 million, driven by a net interest margin of 3.43%. Non-interest income also rose by 12.9%. However, gross loans decreased by 2.1% due to PPP loan payoffs, while general and administrative expenses increased.
Chino Commercial Bancorp (OTC: CCBC) reported a net earnings increase of 7.4% for Q1 2022, amounting to $900 thousand, up from $838 thousand in Q1 2021. Earnings per share rose to $0.34 from $0.31 year-over-year. Total assets increased by 9.1%, reaching $412.8 million, and total deposits grew by 10.1% to $353.7 million. The bank maintained gross loans at $176 million. However, its net interest margin declined to 2.72% from 3.59% a year earlier. Overall, non-interest income rose 16.6%, attributed mainly to service charges.