Chino Commercial Bancorp Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016
January 20, 2017 at 04:00 pm
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Chino Commercial Bancorp reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported total interest income were $1,588,605 against $1,439,357 a year ago. Net interest income was $1,478,873 against $1,355,351 a year ago. Net interest income after provision for loan losses was $1,438,873 against $1,317,104 a year ago. Income before income taxes was $538,506 against $516,075 a year ago. Net income was $329,476 against $318,620 a year ago. Basic and diluted earnings per share were $0.27 against $0.26 a year ago. Annualized return on average equity was 10.62% against 10.63% a year ago. Annualized return on average assets was 0.75% against 0.77% a year ago.
For the nine months, the company reported total interest income were $6,179,243 against $5,454,705 a year ago. Net interest income was $5,768,232 against $5,138,809 a year ago. Net interest income after provision for loan losses was $5,565,822 against $5,096,521 a year ago. Income before income taxes was $2,381,041 against $2,151,831 a year ago. Net income was $1,453,103 against $1,327,370 a year ago. Basic and diluted earnings per share were $1.18 against $1.08 a year ago. Annualized return on average equity was 10.73% against 11.54% a year ago. Annualized return on average assets was 0.85% against 0.88% a year ago.
Chino Commercial Bancorp serves as the holding company for Chino Commercial Bank (The Bank), which is a nationally chartered bank. The Bank offers personal banking and business banking services. The Bank's personal banking services, such as personal checking and savings, individual retirement account, online banking, mobile banking, Cash on delivery, debit cards, direct deposit, e-statements, electronic tax payment services, night depository, notary services and savings bonds. Its business banking offers business checking and savings, business loans, online cash management, business mobile banking, remote deposit capture, merchant services and medical professionals. Its Commercial loan products include lines of credit, letters of credit, term loans and equipment loans, commercial real estate loans, accounts receivable financing, factoring, equipment leasing and other working capital financing. Its Financing products include home improvement lines of credit and MasterCard debit cards.