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Chino Commercial Bancorp reports operating results for Chino Commercial Bank, N.A., its bank subsidiary and the core business behind the OTC-traded holding company. Company news centers on earnings, earnings per share, deposits, loans, total assets, revenue, consolidated net profit and credit quality.
Recurring updates also cover branch expansion in Southern California markets, non-interest income from service charges and merchant services processing, and capital actions such as stock dividends. The company’s announcements frame CCBC through community banking activity, balance-sheet growth, deposit and loan production, and shareholder distributions.
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.
Chino Commercial Bank, a subsidiary of Chino Commercial Bancorp (OTC: CCBC), was awarded Findley Reports' highest rating of Super Premier Performing Bank for outstanding financial and operational performance in 2021. This recognition reflects the Bank's strong profitability, return on equity, and loan performance, as noted by the Findley Reports. President and CEO Dann H. Bowman expressed satisfaction with the award, citing a robust capital position and low loan losses that enable increased lending to consumers and businesses in the local economy.
Chino Commercial Bancorp (OTC: CCBC) reported fourth-quarter 2021 net earnings of $707 thousand, a 1.2% increase from $699 thousand in Q4 2020. Earnings per share remained stable at $0.26. For the fiscal year, net earnings rose 19.3% to $3.1 million ($1.17 per share) from $2.6 million ($0.98 per share) in 2020. Total assets grew by 20.02% to $378.5 million, and total deposits increased by 23.7% to $318.9 million. However, gross loans decreased by 10% to $176.2 million, largely due to loan paydowns from the Payroll Protection Program.
Chino Commercial Bancorp (OTC: CCBC) reported a net earnings increase of 8.1% to $718K for Q3 2021, up from $664K in Q3 2020. Net earnings per share rose to $0.27. Total assets grew by 17.6%, reaching $370.2 million, while total deposits surged by 20.6% to $310.9 million. The bank maintained a strong loan quality with no delinquent loans. However, gross loans decreased by 6.7% due to loan paydowns under the Payroll Protection Program. Non-interest income increased by 37.5% to $544.6K, while general and administrative expenses rose to $1.8 million.
Chino Commercial Bancorp (OTC: CCBC) reported Q2 2021 net earnings of $867K, a 33.8% increase from $648K in Q2 2020. Earnings per share rose to $0.32 from $0.24 year-over-year. Total assets grew by 12.2% to $353.3 million, with deposits increasing 14.4% to $294.9 million. Loan quality remained strong with no delinquent loans. However, gross loans decreased by 1.7% to $192.4 million, largely due to pay downs on PPP loans. The company also completed a $10 million subordinated note offering and issued a 20% stock dividend on July 6, 2021.
Chino Commercial Bancorp (OTC: CCBC) has announced the successful completion of a private placement of $10 million in 4.250% Fixed to Floating Rate Subordinated Notes due in 2031. The offering was oversubscribed, reflecting investor confidence in the company. The funds will support capital ratios and may facilitate share repurchase or debt retirement. The Notes will initially offer a fixed interest rate, transitioning to a variable rate after five years. The issuance qualifies as Tier 2 capital for regulatory compliance.
Chino Commercial Bancorp (OTC: CCBC) reported a 36.6% increase in net earnings for Q1 2021, totaling $838 thousand, up from $614 thousand in Q1 2020. This growth was driven by increased loan interest and fee income. The bank's total assets rose 7.6% to $338.7 million, with deposits up 9.2% to $281.3 million. Gross loans increased 4.0% to $203.4 million. The net interest margin decreased to 3.59% from 4.56% year-over-year. The bank continues to support small businesses through the SBA PPP program, facilitating 644 loans worth $58.2 million.
Chino Commercial Bancorp (OTC: CCBC) reported third quarter 2020 net earnings of $664 thousand, a 3.72% increase from $640 thousand in Q3 2019. Earnings per share rose to $0.30. Total assets surged to $303.5 million, up 32.2% year-over-year, while total loans increased by 34% due to high demand from small businesses amid the COVID-19 pandemic. Deposits also grew by 34% to $242 million. However, non-interest income fell by 16.2% to $396 thousand, mainly from decreased overdraft fees. The net interest margin declined to 3.31%, down from 4.63% last year.