California Bank Of Commerce announced unaudited financial results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported interest income of $3,422,000 against $2,949,000 a year ago. Income before tax provision was $931,000 against $555,000 a year ago. Net income period was $528,000 or $0.182 per basic share against $318,000 or $0.104 per basic share a year ago. For the Fourth Quarter of 2012 compared to the Fourth Quarter of 2011, Net Interest Income increased by $488,000 or 19% to $3.0 million, as a result of strong growth in Average Total Earning Assets, which increased by $56 million or 20% between the periods. This growth in Average Total Earning Asset was concentrated in loans, which were up $35 million or 17%, and investments, which were up $13 million or 42%.

For the year, the company reported interest income of $13,048,000 against $10,689,000 a year ago. Income before tax provision was $3,120,000 against $1,476,000 a year ago. Net income period was $1,766,000 or $0.569 per basic share against $793,000 or $0.230 per basic share a year ago. For the year ended December 31, 2012 compared to the year ended December 31, 2011, Net Interest Income increased by $2.3 million or 25% to $11.4 million. This year over year increase in Net Interest Income was primarily driven by a combination of strong loan growth, growth in core deposits, and a relatively stable net interest margin.