Chino Commercial Bancorp Q3 net earnings rise on higher net interest income, loan growth
CCBC•Chino Commercial Bancorp’s third-quarter net income rose 22% year over year to $1.88 million, while basic EPS increased to $0.49. Net interest income grew 16% to $4.70 million, and net interest margin improved to 4.20%.
1. Earnings growth
Chino Commercial Bancorp reported third-quarter net income of $1.88 million, up 22% year over year, and basic EPS of $0.49. Net interest income increased 16% to $4.70 million, and net interest margin rose to 4.20%.
2. Other results
The company said increased interest and fees on loans contributed to earnings growth. Merchant Service processing fees and card processing sales volume boosted non-interest income, while the core efficiency ratio decreased as revenue growth outpaced expenses. Chino Commercial Bancorp reported no delinquent loans at quarter-end.
