Bank of Commerce Holdings announced earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported total interest income of $9,301,000 against $9,846,000 a year ago. Net interest income was $8,494,000 against $8,754,000 a year ago. Income before provision for income taxes was $3,520,000 against $1,910,000 a year ago. Net Income from continuing operations was $2,087,000 or $0.14 basic and diluted per share against $1,384,000 or $0.06 basic and diluted per share a year ago. Net income attributable to the company was $2,087,000 or $0.14 basic and diluted per share against $1,384,000 or $0.06 basic and diluted per share a year ago. Income available to common shareholders was $2,037,000 against $1,188,000 a year ago. Return on average assets, annualized was 0.89% against 0.57% a year ago. Return on average equity, annualized was 8.18% against 4.97% a year ago. Book value per common share was $5.86 against $5.66 a year ago. Tangible book value per common share was $5.86 against $5.66 a year ago. The increase in ROA and ROE during the current quarter compared to the same period a year ago is primarily attributed to the decrease in the provision for loan losses of $4.6 million, partially offset by the $2.0 million decrease in net gains on investment securities. The increase in ROE is also attributed to the decrease in shareholders equity resulting from the repurchase of common shares.

For the year, the company reported total interest income of $37,261,000 against $40,337,000 a year ago. Net interest income was $33,783,000 against $35,108,000 a year ago. Income before provision for income taxes was $12,334,000 against $10,669,000 a year ago. Net Income from continuing operations was $7,935,000 or $0.52 basic and diluted per share against $7,560,000 or $0.41 basic and diluted per share a year ago. Net income attributable to the company was $7,935,000 or $0.52 basic and diluted per share against $7,416,000 or $0.41 basic and diluted per share a year ago. Income available to common shareholders was $7,735,000 against $6,536,000 a year ago.