While we remain committed to providing our clients with technology that is second to none, we will never forget that personalized, proactive, responsive service is the foundation of our success.
President & CEO
2016 was a year of achievement for Commercial Bank of California. We continued to demonstrate strong performance, registering a substantial gain in profits and growth in our assets, deposits and loans.
Our long-standing focus on high credit quality continues to serve us well. Non-performing assets net of federal guarantees totaled just $1.0 million at December 31, 2016, compared to reserves of $8.9 million.
In 2016, the Bank successfully completed a merger with National Bank of California, which included a comprehensive data processing conversion enabling all CBC offices to operate using the same system. As a result, customers can conduct business at any of the Bank’s six convenient regional offices throughout Southern California.
While we remain committed to providing our clients with technology that is second to none, we will never forget that personalized, proactive, responsive service is the foundation of our success. CBC’s unique combination of financial strength, advanced technology, and personal service is what is making us the bank of choice for businesses and professionals in Southern California.
The present operating environment for financial companies remains challenging, with continued pressure on net interest margins, slow economic growth, and rising expenses. We are not impervious to these challenges, but our conservative philosophy and sound strategies continue to prove their validity. Since our founding, our overriding objective has been to build a quality institution with financial strength and staying power. We remain committed to profitable growth without compromising our lending standards and credit quality.
Looking ahead, we benefit from the flexibility provided by our financial strength and our growing market position. Our talented team of banking professionals continues to compete successfully for new business while providing our customers with top-quality, individualized service. At the same time, we remain keenly focused on the operating environment, and are prepared to act quickly and decisively to meet whatever challenges and opportunities may arise. We believe that by adhering to proven strategies we enhance our success now and in the years ahead.
Net Income Increased
year-over-year for third consecutive year
Total assets, deposits and loans all reached
New Record Highs
New capital further
Strengthened Robust Capital Position
Net Income Levels
Total Loans (net)
Statements of Condition (Unaudited)
December 31, 2016
|Cash and due from banks||$48,084|
|Interest bearing deposits with banks||132,749|
|Cash and cash equivalents||180,833|
|Premises and equipment - net||2,326|
|Other real estate owned||460|
|Accrued interest receivable|
|and other assets||29,866|
Liabilities and Capital:
|Non-interest bearing demand deposits||$304,988|
|Interest bearing demand deposits||25,564|
|Savings and money market deposits||353,444|
|Federal Home Loan Bank advances||0|
|Accrued interest payable and other liabilities||8,092|
|comprehensive income (loss)||-335|
|Total liabilities and capital||$810,695|
Statements of Operations (Unaudited)
Three Months Ended
Twelve Months Ended
Interest on loans
Interest on deposits with banks
Interest on investment securities
Total interest income
Interest on deposits
Interest on FHLB advances
Total interest expense
Net interest income
Provision for loan losses
Net interest income after provision for loan losses
Other operating income
Salaries and related benefits
Total other operating expenses
Income before provision
for income taxes
Provision for income taxes
About Commercial Bank of California
Commercial Bank of California is a full-service bank serving the business and professional communities of Los Angeles and Orange counties.
Recognized as a bauer financial "five star bank" for its financial strength and stability,
Commercial Bank of California provides the expertise of a major bank and the personalized service of an independent. More information on Commercial Bank of California is available at www.cbcal.com.
Forward Looking Statements Disclaimer
This report includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein may constitute forward-looking statements. Although Commercial Bank of California believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Important factors that could cause actual results to differ materially from Commercial Bank of California’s expectations include fluctuations in interest rates, inflation, government regulations, and economic conditions and competition in the geographic and business areas in which Commercial Bank of California conducts its operations.
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19752 MacArthur Boulevard, Suite 100 Irvine CA 92612
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One Pointe Drive, Suite 100
Brea CA 92821
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575 Anton Boulevard, Suite 140 Costa Mesa CA 92626
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145 South Fairfax Avenue, Suite 100 Los Angeles CA 90036
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805 Wilshire Boulevard
Santa Monica CA 90401
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14724 Ventura Boulevard, Suite 100 Sherman Oaks CA 91403