Irvine, California – April 25, 2017 – CommerceWest Bank reported net income for the three months ended March 31, 2017 of $1,509,000 or $0.37 per common share, compared with net income of $1,053,000 or $0.25 per common share for the three months ended March 31, 2016, an EPS increase of 48%.
Irvine, California – April 6, 2017 – CommerceWest Bank was named as a 2017 “Super Premier Performing” bank by The Findley Reports. The Findley Reports provides the banking industry with performance benchmarks by designating banks as “Super Premier Performing,” “Premier Performing,” and “Commendable Performing” banks. To receive one of the top designations, banks must first meet the A-Quality scoring criteria that looks at growth, net operating income, net loan loss and equity return.
Irvine, California – March 30, 2017 – CommerceWest Bank announced the approval of a cash dividend by its Board of Directors. The Board of Directors declared a cash dividend of $0.17 per common share, payable April 12, 2017 to shareholders of record at March 29, 2017.
Irvine, California – March 10, 2016 – CommerceWest Bank provided unconditional care to help children and families through difficult times by supporting Seneca Orange County. Senca was the charity partner of the Marconi Foundation for Kids, which strives to raise a million dollars a year for at risk youth in Orange County. Seneca’s Guided Animal Intervention Therapy program provides support to children who have experienced loss, neglect and trauma.
Irvine, California – January 24, 2017 – CommerceWest Bank reported net income for the three months ended December 31, 2016 of $1,319,000 or $0.32 per common share, compared with net income of $962,000 or $0.23 per common share for the three months ended December 31, 2015, an EPS increase of 39%. Net income for the twelve months ended December 31, 2016 was $4,830,000 or $1.16 per common share, compared with net income of $4,111,000 or $0.98 per common share for the twelve months ended December 31, 2015, an EPS increase of 18%.