Chino Commercial Bancorp Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014
January 19, 2015 at 11:06 am
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Chino Commercial Bancorp reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total interest income of $1,241,360 compared to total interest income of $1,155,152 for the same period a year ago. Income before income tax expense was $419,630 compared to $477,236 last year. Net income was $261,887 or $0.30 per basic and diluted share compared to $295,970 or $0.36 per basic and diluted share last year. Net interest income was $1,170,794 compared to $1,084,011 last year. Annualized return on average equity was 9.80% compared to 12.47% last year. Annualized return on average assets 0.82% compared to 0.99% last year.
For the year, the company reported total interest income of $4,538,604 compared to total interest income of $4,401,843 for the same period a year ago. Income before income tax expense was $1,834,532 compared to $1,507,273 last year. Net income was $1,139,773 or $1.30 per basic and diluted share compared to $940,728 or $1.13 per basic and diluted share last year. Net interest income was $4,258,257 compared to $4,092,972 last year. Annualized return on average equity was 22.28% compared to 20.55% last year. Annualized return on average assets 1.82% compared to 1.59% last year.
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.