California Bank of Commerce Reports Record First Quarter 2014 Net Income

LAFAYETTE, Calif., Apr 18, 2014 (BUSINESS WIRE) California Bank of Commerce (OTCBB: CABC) reported net income of $756 thousand for the quarter ending March 31, 2014, an increase of 36% over the same quarter of 2013. Basic earnings per share was $0.26 for the first quarter of 2014, compared to $0.19 per share for the same period in 2013. We are very pleased with the Bank s growth and profitability, building our commercial and niche business lines to drive earnings and solid shareholder returns. We continue to attract business clients with sizable operating deposit accounts, resulting in record non-interest bearing deposits, said Terry A. Peterson President and CEO. Other financial highlights include: Highlights: First Quarter 2014 versus First Quarter 2013 Total Loans increased $45 million or 18% to $291 million Total Deposits increased $22 million or 8% to $303 million Net Interest Income increased $577 thousand or 19% to $3.6 million Net Income increased $202 thousand or 36% to $756
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