Chino Commercial Bancorp Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012
January 18, 2013 at 10:00 am
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Chino Commercial Bancorp reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported total interest income of $1,057,277 compared to $1,061,270 a year ago. Net interest income was $956,008 compared to $926,160 a year ago. Income before income tax expense was $164,388 compared to $265,616 a year ago. Net income was $107,796 or $0.13 basic and diluted per share compared to $167,928 or $0.22 basic and diluted per share a year ago. Annualized return on average equity was 4.96% compared to 9.13% a year ago. Annualized return on average assets was 0.37% compared to 0.63% a year ago.
For the year, the company reported total interest income of $4,056,713 compared to $4,319,097 a year ago. Net interest income was $3,654,006 compared to $3,723,284 a year ago. Income before income tax expense was $925,102 compared to $671,086 a year ago. Net income was $589,766 or $0.72 basic and diluted per share compared to $441,401 or $0.59 basic and diluted per share a year ago. Annualized return on average equity was 7.07% compared to 6.10% a year ago. Annualized return on average assets was 0.53% compared to 0.41% 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.