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Chino Commercial Bancorp Reports Quarterly Earnings

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Chino Commercial Bancorp (OTC: CCBC) reported its Q3 2024 financial results. Net earnings year-to-date increased by 0.90% to $3.74 million, with earnings per share at $1.17. Q3 2024 net earnings were $1.27 million, a slight decrease of 0.60% compared to Q3 2023. Total assets reached $464.4 million, up 11.68% from December 31, 2023. Total deposits increased by 14.52% to $366.2 million, with core deposits representing 97.65% of total deposits. Gross loans grew by 8.4% to $194.4 million.

The company's net interest margin improved to 3.08% in Q3 2024 from 2.98% in Q3 2023. Non-interest income increased by 17.84% to $793.1 thousand, largely due to growth in merchant services processing revenue. General and administrative expenses rose to $2.5 million in Q3 2024. The bank's loan quality remained stable with only one delinquent loan at quarter-end.

Chino Commercial Bancorp (OTC: CCBC) ha riportato i risultati finanziari per il terzo trimestre del 2024. Gli utili netti da inizio anno sono aumentati dell'0,90% a 3,74 milioni di dollari, con un utile per azione di 1,17 dollari. Gli utili netti del Q3 2024 sono stati di 1,27 milioni di dollari, con una leggera diminuzione dello 0,60% rispetto al Q3 2023. Il totale degli attivi ha raggiunto i 464,4 milioni di dollari, in aumento dell'11,68% rispetto al 31 dicembre 2023. I depositi totali sono aumentati del 14,52% a 366,2 milioni di dollari, con i depositi core che rappresentano il 97,65% dei depositi totali. I prestiti lordi sono cresciuti dell'8,4% a 194,4 milioni di dollari.

Il margine d'interesse netto della societ脿 猫 migliorato al 3,08% nel Q3 2024, rispetto al 2,98% nel Q3 2023. Il reddito non da interessi 猫 aumentato del 17,84% a 793,1 mila dollari, principalmente grazie alla crescita dei ricavi dei servizi di elaborazione per i commercianti. Le spese generali e amministrative sono aumentate a 2,5 milioni di dollari nel Q3 2024. La qualit脿 dei prestiti della banca 猫 rimasta stabile con solo un prestito inadempiente alla fine del trimestre.

Chino Commercial Bancorp (OTC: CCBC) report贸 sus resultados financieros del tercer trimestre de 2024. Las ganancias netas acumuladas hasta la fecha aumentaron un 0.90% a 3.74 millones de d贸lares, con ganancias por acci贸n de 1.17 d贸lares. Las ganancias netas del Q3 2024 fueron de 1.27 millones de d贸lares, una ligera disminuci贸n del 0.60% en comparaci贸n con el Q3 2023. Los activos totales alcanzaron los 464.4 millones de d贸lares, un aumento del 11.68% desde el 31 de diciembre de 2023. Los dep贸sitos totales aumentaron un 14.52% a 366.2 millones de d贸lares, siendo los dep贸sitos fundamentales el 97.65% de los dep贸sitos totales. Los pr茅stamos brutos crecieron un 8.4% a 194.4 millones de d贸lares.

El margen de inter茅s neto de la compa帽铆a mejor贸 al 3.08% en el Q3 2024 desde el 2.98% en el Q3 2023. Los ingresos no por intereses aumentaron un 17.84% a 793.1 mil d贸lares, principalmente debido a un crecimiento en los ingresos por servicios de procesamiento para comerciantes. Los gastos generales y administrativos aumentaron a 2.5 millones de d贸lares en el Q3 2024. La calidad de los pr茅stamos del banco se mantuvo estable con solo un pr茅stamo moroso al final del trimestre.

Chino Commercial Bancorp (OTC: CCBC)臧� 2024雲� 3攵勱赴 鞛 瓴瓣臣毳� 氚滍憸頄堨姷雼堧嫟. 鞓暣 雸勳爜 靾滌澊鞚奠澊 0.90% 歃濌皜頃橃棳 374毵� 雼煬鞐� 雼枅鞀惦媹雼�, 欤茧嫻 鞚挫澋鞚� 1.17 雼煬鞛呺媹雼�. 2024雲� 3攵勱赴 靾滌澊鞚奠潃 127毵� 雼煬鞓�鞙茧┌, 2023雲� 3攵勱赴 雽�牍� 0.60%鞚� 靻岉彮 臧愳唽毳� 氤挫榾鞀惦媹雼�. 齑� 鞛愳偘鞚� 4鞏� 6440毵� 雼煬鞐� 霃勲嫭頄堨姷雼堧嫟, 2023雲� 12鞗� 31鞚� 雽�牍� 11.68% 歃濌皜頄堨姷雼堧嫟. 齑� 鞓堦笀鞚� 14.52% 歃濌皜頃橃棳 3鞏� 6620毵� 雼煬鞐� 雼枅鞀惦媹雼�, 頃奠嫭 鞓堦笀鞚� 齑� 鞓堦笀鞚� 97.65%毳� 彀頃╇媹雼�. 齑� 雽�於滌潃 8.4% 歃濌皜頃橃棳 1鞏� 9440毵� 雼煬臧� 霅橃棃鞀惦媹雼�.

須岇偓鞚� 靾滌澊鞛� 毵堨鞚� 2024雲� 3攵勱赴 3.08%搿� 臧滌劆霅橃棃鞙茧┌, 鞚措姅 2023雲� 3攵勱赴鞚� 2.98%鞐愳劀 歃濌皜頃� 靾橃箻鞛呺媹雼�. 牍勳澊鞛� 靾橃澋鞚� 1784% 歃濌皜頃橃棳 79毵� 3100雼煬鞐� 雼枅鞙茧┌, 鞚措姅 欤茧 靸侅澑 靹滊箘鞀� 觳橂Μ 靾橃澋鞚� 靹膘灔 雿曤秳鞛呺媹雼�. 鞚茧皹 甏�毽� 牍勳毄鞚� 2024雲� 3攵勱赴鞐� 250毵� 雼煬搿� 歃濌皜頄堨姷雼堧嫟. 鞚�頄夓潣 雽�於� 頀堨鞚� 鞎堨爼鞝侅溂搿� 鞙犾霅橃棃鞙茧┌ 攵勱赴 毵愳棎 鞐办泊 雽�於滌潃 雼� 頃橂倶肟愳澊鞐堨姷雼堧嫟.

Chino Commercial Bancorp (OTC: CCBC) a report茅 ses r茅sultats financiers pour le troisi猫me trimestre 2024. Les b茅n茅fices nets depuis le d茅but de l'ann茅e ont augment茅 de 0,90% pour atteindre 3,74 millions de dollars, avec un b茅n茅fice par action de 1,17 dollar. Les b茅n茅fices nets pour le Q3 2024 茅taient de 1,27 million de dollars, marquant une l茅g猫re diminution de 0,60% par rapport au Q3 2023. Les actifs totaux ont atteint 464,4 millions de dollars, en hausse de 11,68% depuis le 31 d茅cembre 2023. Les d茅p么ts totaux ont augment茅 de 14,52% pour atteindre 366,2 millions de dollars, les d茅p么ts de base repr茅sentant 97,65% des d茅p么ts totaux. Les pr锚ts bruts ont augment茅 de 8,4% pour atteindre 194,4 millions de dollars.

La marge d'int茅r锚t nette de l'entreprise s'est am茅lior茅e 脿 3,08% au Q3 2024, contre 2,98% au Q3 2023. Les revenus non li茅s aux int茅r锚ts ont augment茅 de 17,84% pour atteindre 793,1 mille dollars, principalement en raison de la croissance des revenus issus des services de traitement pour les commer莽ants. Les frais g茅n茅raux et administratifs ont augment茅 脿 2,5 millions de dollars au Q3 2024. La qualit茅 des pr锚ts de la banque est rest茅e stable, avec seulement un pr锚t en d茅faut 脿 la fin du trimestre.

Chino Commercial Bancorp (OTC: CCBC) hat seine Finanzzahlen f眉r das dritte Quartal 2024 ver枚ffentlicht. Die Nettogewinne seit Jahresbeginn stiegen um 0,90% auf 3,74 Millionen US-Dollar, mit einem Gewinn pro Aktie von 1,17 US-Dollar. Die Nettogewinne im Q3 2024 beliefen sich auf 1,27 Millionen US-Dollar, was einen leichten R眉ckgang von 0,60% im Vergleich zum Q3 2023 darstellt. Die Gesamtverm枚gen erreichten 464,4 Millionen US-Dollar, ein Anstieg um 11,68% seit dem 31. Dezember 2023. Die Gesamteinlagen stiegen um 14,52% auf 366,2 Millionen US-Dollar, wobei die Kernanlagen 97,65% der Gesamteinlagen ausmachen. Die Bruttokredite stiegen um 8,4% auf 194,4 Millionen US-Dollar.

Die Nettozinsspanne des Unternehmens verbesserte sich im Q3 2024 auf 3,08% von 2,98% im Q3 2023. Die Einnahmen aus Nichtzinsgesch盲ften stiegen um 17,84% auf 793,1 Tausend US-Dollar, gr枚脽tenteils aufgrund des Wachstums der Einnahmen aus der Verarbeitung von H盲ndlerdiensten. Die allgemeinen und verwaltungstechnischen Ausgaben stiegen im Q3 2024 auf 2,5 Millionen US-Dollar. Die Kreditqualit盲t der Bank blieb stabil, mit nur einem 眉berf盲lligen Kredit zum Quartalsende.

Positive
  • Net earnings year-to-date increased by 0.90% to $3.74 million
  • Total assets grew by 11.68% to $464.4 million
  • Total deposits increased by 14.52% to $366.2 million
  • Gross loans grew by 8.4% to $194.4 million
  • Net interest margin improved to 3.08% in Q3 2024 from 2.98% in Q3 2023
  • Non-interest income increased by 17.84% to $793.1 thousand
  • Merchant services processing revenue grew significantly to $129.2 thousand
  • Loan quality remained stable with only one delinquent loan at quarter-end
  • Year-to-date credit losses showed a net recovery of $10,241
Negative
  • Q3 2024 net earnings decreased by 0.60% compared to Q3 2023
  • General and administrative expenses increased to $2.5 million in Q3 2024 from $2.2 million in Q3 2023

CHINO, Calif., Oct. 18, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Chino Commercial Bancorp (OTC: CCBC), the parent company of Chino Commercial Bank, N.A., announced the results of operations for the Bank and the consolidated holding company for the third quarter ended September 30, 2024.

Net earnings year-to-date increased by 0.90% or by $33.2 thousand, to $3.74 million, as compared to $3.71 million for the same period last year. Year-to-date net earnings per share was $1.17 for the period ending September 30, 2024 and $1.16 for the same period last year. Net earnings for the third quarter of 2024, were $1.27 million, which represents a decrease of $7.6 thousand or 0.60% in comparison with the same quarter last year. Net earnings per basic and diluted share were $0.39 for the third quarter of 2024 and $0.40 for the same quarter in 2023, respectively.

Dann H. Bowman, President and Chief Executive Officer, stated, 鈥淭he Bank鈥檚 operating performance for the third quarter, and year-to-date continue to be strong. Total deposits reached an all time record at quarter-end, and we are optimistic about additional opportunities for growth and expansion. Loan quality also remains stable, with the Bank having only one delinquent loan at quarter-end, and year-to-date credit losses were a net recovery of $10,241, meaning that the Bank collected more bad debt than was charged-off.

鈥淚n 2023 the Bank became a member of the Card Brand Association and began to offer Credit Card processing for its customers. Not only does this service provide an additional non-interest source of revenue, but the Bank has also been able to provide significant savings and transparency to its customers. For every business, efficient and cost effective processing of electronic payments has become a very important part of managing cash flow. In the future we can envision expanding this service outside of our immediate market; and the revenue from this service becoming an increasingly important part of the Bank鈥檚 business model.鈥�

Financial Condition

At September 30, 2024, total assets were $464.4 million, an increase of $19.5 million or 11.68% over $446.4 million at December 31, 2023. Total deposits increased by $46.4 million or 14.52% to $366.2 million as of September 30, 2024, compared to $319.8 million as of December 31, 2023. At September 30, 2024, the Company鈥檚 core deposits represent 97.65% of the total deposits.

Gross loans increased by $15.1 million or 8.4% to $194.4 million as of September 30, 2024, compared to $179.0 million as of December 31, 2023. The Bank had three non-performing loans for the quarter ended September 30, 2024, and as of December 31, 2023. OREO properties remained at zero as of September 30, 2024 and December 31, 2023 respectively.

Earnings

The Company posted net interest income of $3.4 million for the three months ended September 30, 2024 and $3.3 million for the same quarter last year. Average interest-earning assets were $442.1 million with average interest-bearing liabilities of $248.4 million, yielding a net interest margin of 3.08% for the third quarter of 2024, as compared to the average interest-earning assets of $442.9 million with average interest-bearing liabilities of $235.8 million, yielding a net interest margin of 2.98% for the third quarter of 2023.

Non-interest income totaled $793.1 thousand for the third quarter of 2024, or an increase of 17.84% as compared with $673.1 thousand earned during the same quarter last year. The majority of the increase is attributed to the Company鈥檚 merchant services processing revenue that reached $129.2 thousand, representing an increase of $75.7 thousand during the third quarter as compared to $53.5 thousand for the same period last year.

General and administrative expenses were $2.5 million for the three months ended September 30, 2024, and $2.2 million for the same period last year. The largest component of general and administrative expenses was salary and benefits expense of $1.5 million for the third quarter of 2024 and $1.4 million for the same period last year.

Income tax expense was $500 thousand, which represents a decrease of $4 thousand or 0.77% for the three months ended September 30, 2024, as compared to $503 thousand for the same quarter last year. The effective income tax rate for the third quarter of 2024 and 2023 was approximately 28.3%.

Forward-Looking Statements

The statements contained in this press release that are not historical facts are forward-looking statements based on management鈥檚 current expectations and beliefs concerning future developments and their potential effects on the Company. Readers are cautioned not to unduly rely on forward-looking statements. Actual results may differ from those projected. These forward-looking statements involve risks and uncertainties, including but not limited to, the health of the national and California economies, the Company鈥檚 ability to attract and retain skilled employees, customers鈥� service expectations, the Company鈥檚 ability to successfully deploy new technology and gain efficiencies therefrom, and changes in interest rates, loan portfolio performance, and other factors.

Contact: Dann H. Bowman, President and CEO or Melinda M. Milincu, Senior Vice President and CFO, Chino Commercial Bancorp and Chino Commercial Bank, N.A., 14245 Pipeline Avenue, Chino, CA. 91710, (909) 393-8880.

听听听听
Consolidated Statements of Financial Condition
As of 9/30/2024听听听
听Sep-2024
Ending Balance		听Dec-2023
Ending Balance
Assets听听听
Cash and due from banks$56,235,795听听$35,503,719听
Cash and cash equivalents$56,235,795听听$35,503,719听
听听听听
Fed Funds Sold$34,246听听$25,218听
听听听听
Investment securities available for sale, net of zero allowance for credit losses$6,735,550听听$6,736,976听
Investment securities held to maturity, net of zero allowance for credit losses$187,751,860听听$208,506,305听
Total Investments$194,487,410听听$215,243,281听
听听听听
Gross loans held for investments$194,405,145听听$179,316,494听
Allowance for Loan Losses($4,460,580)听($4,465,622)
Net Loans$189,944,565听听$174,850,872听
Stock investments, restricted, at cost$3,576,000听听$3,126,100听
Fixed assets, net$7,204,530听听$5,466,358听
Accrued Interest Receivable$1,466,479听听$1,439,178听
Bank Owned Life Insurance$8,421,648听听$8,247,174听
Other Assets$3,583,393听听$3,010,916听
听听听听
Total Assets$464,413,004听听$446,414,238听
听听听听
Liabilities听听听
Deposits听听听
Noninterest-bearing$186,644,255听听$167,131,411听
Interest-bearing$179,588,806听听$152,669,374听
Total Deposits$366,233,061听听$319,800,785听
听听听听
Federal Home Loan Bank advances$0听听$15,000,000听
Federal Reserve Bank borrowings$40,000,000听听$57,000,000听
Subordinated debt$10,000,000听听$10,000,000听
Subordinated notes payable to subsidiary trust$3,093,000听听$3,093,000听
Accrued interest payable$1,556,057听听$2,156,153听
Other Liabilities$2,145,941听听$1,876,475听
Total Liabilities$423,028,059听听$408,926,413听
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Shareholder Equity听听听
Common Stock **$10,502,558听听$10,502,558听
Retained Earnings$32,664,661听听$28,920,732听
Unrealized Gain (Loss) AFS Securities($1,782,273)听($1,935,465)
Total Shareholders' Equity$41,384,946听听$37,487,825听
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Total Liab & Shareholders' Equity$464,413,004听听$446,414,238听
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** Common stock, no par value, 10,000,000 shares authorized and 3,211,970 shares issued and outstanding at 9/30/2024 and 12/31/2023
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听听听听听
Consolidated Statements of Net Income
As of 9/30/2024听听听听
听Sep-2024
QTD Balance		Sep-2023
QTD Balance		Sep-2024
YTD Balance		Sep-2023
YTD Balance
Interest Income听听听听
Interest & Fees On Loans$3,035,928听$2,467,400听$8,564,927听$7,245,563听
Interest on Investment Securities$1,843,696听$1,166,387听$5,725,365听$3,444,135听
Other Interest Income$661,305听$1,410,450听$2,181,584听$2,990,487听
Total Interest Income$5,540,929听$5,044,237听$16,471,876听$13,680,185听
听听听听听
Interest Expense听听听听
Interest on Deposits$1,168,014听$841,282听$3,255,683听$1,835,134听
Interest on Borrowings$945,921听$877,179听$3,256,138听$2,112,955听
Total Interest Expense$2,113,935听$1,718,461听$6,511,821听$3,948,089听
听听听听听
Net Interest Income$3,426,994听$3,325,776听$9,960,055听$9,732,096听
听听听听听
Provision For Loan Losses($14,173)$6,578听($15,312)($81,806)
听听听听听
Net Interest Income After Provision for Loan Losses$3,441,167听$3,319,198听$9,975,367听$9,813,902听
听听听听听
Noninterest Income听听听听
Service Charges and Fees on Deposit Accounts$445,176听$424,453听$1,345,691听$1,184,329听
Interchange Fees$113,647听$106,418听$308,680听$314,803听
Earnings from Bank-Owned Life Insurance$59,599听$48,677听$174,474听$142,799听
Merchant Services Processing$129,184听$53,513听$410,722听$140,904听
Other Miscellaneous Income$45,488听$39,989听$149,010听$130,747听
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Total Noninterest Income$793,094听$673,050听$2,388,577听$1,913,582听
听听听听听
Noninterest Expense听听听听
Salaries and Employee Benefits$1,521,825听$1,381,721听$4,444,120听$4,101,388听
Occupancy and Equipment$182,813听$164,092听$515,286听$485,502听
Merchant Services Processing$77,452听$47,345听$222,055听$82,807听
Other Expenses$684,102听$619,533听$1,964,230听$1,876,220听
听听听听听
Total Noninterest Expense$2,466,192听$2,212,691听$7,145,691听$6,545,917听
听听听听听
Income Before Income Tax Expense$1,768,070听$1,779,556听$5,218,253听$5,181,566听
Provision For Income Tax$499,565听$503,424听$1,474,323听$1,470,859听
听听听听听
Net Income$1,268,505听$1,276,132听$3,743,930听$3,710,707听
听听听听听
Basic earnings per share$0.39听$0.40听$1.17听$1.16听
听听听听听
Diluted earnings per share$0.39听$0.40听$1.17听$1.16听
听听听听听
Effective Income Tax Rate听28.25%听28.29%听28.25%听28.39%
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听听听听听
Financial Highlights听听听听
As of 9/30/2024听听听听
听Sep-2024
QTD		Sep-2023
QTD		Sep-2024
YTD		Sep-2023
YTD
Key Financial Ratios听听听听
Annualized Return on Average Equity听12.42%听14.34%听12.73%听14.57%
Annualized Return on Average Assets听1.08%听1.09%听1.06%听1.13%
Net Interest Margin听3.08%听2.98%听2.97%听3.11%
Core Efficiency Ratio听58.44%听55.33%听57.87%听56.21%
Net Chargeoffs/Recoveries to Average Loans听-0.01%听0.00%听-0.01%听-0.02%
听听听听听
听听听听听
Average Balances听听听听
(thousands, unaudited)听听听听
Average assets$466,891听$463,977听$472,470听$439,669听
Average interest-earning assets$442,078听$442,870听$447,855听$418,593听
Average interest-bearing liabilities$248,448听$235,812听$255,169听$209,835听
Average gross loans$192,243听$178,251听$187,406听$179,089听
Average deposits$344,372听$340,261听$335,140听$333,225听
Average equity$40,630听$35,312听$39,297听$34,046听
听听听听听
听听听听听
Credit Quality听听听听
Non-performing loans$448,233听$492,242听听听
Non-performing loans to total loans听0.23%听0.27%听听
Non-performing loans to total assets听0.10%听0.11%听听
Allowance for credit losses to total loans听2.29%听2.49%听听
Nonperforming assets as a percentage of total loans and OREO听0.23%听0.27%听听
Allowance for credit losses to non-performing loans听995.15%听907.20%听听
听听听听听
Other Period-end Statistics听听听听
Shareholders equity to total assets听8.91%听8.40%听听
Net Loans to Deposits听51.72%听54.52%听听
Non-interest bearing deposits to total deposits听50.96%听52.26%听听
Company Leverage Ratio听9.91%听9.26%听听



FAQ

What was Chino Commercial Bancorp's (CCBC) net earnings for Q3 2024?

Chino Commercial Bancorp's net earnings for Q3 2024 were $1.27 million, a slight decrease of 0.60% compared to the same quarter last year.

How much did CCBC's total deposits increase in Q3 2024?

CCBC's total deposits increased by $46.4 million or 14.52% to $366.2 million as of September 30, 2024, compared to December 31, 2023.

What was the growth in CCBC's gross loans for Q3 2024?

CCBC's gross loans increased by $15.1 million or 8.4% to $194.4 million as of September 30, 2024, compared to December 31, 2023.

How did CCBC's non-interest income perform in Q3 2024?

CCBC's non-interest income totaled $793.1 thousand for Q3 2024, an increase of 17.84% compared to the same quarter last year.

What was CCBC's net interest margin for Q3 2024?

CCBC's net interest margin was 3.08% for Q3 2024, compared to 2.98% for Q3 2023.
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Chino Commercial

OTC:CCBC

CCBC Rankings

#7769 Ranked by Market Cap
N/A Ranked by Dividends

CCBC Latest News

Jul 18, 2025
Chino Commercial Bancorp Reports 25% Increase in Net Earnings
May 13, 2025
Chino Commercial Bank Receives Super Premier Performing Recognition
Apr 18, 2025
Chino Commercial Bancorp Reports 8.7% Increase in Net Earnings
Jan 17, 2025
Chino Commercial Bancorp Reports Record Earnings
Jul 19, 2024
Chino Commercial Bancorp Reports 2% Increase in YTD Net Earnings

CCBC Stock Data

44.97M
3.21M
7.07%
Banks - Regional
Financial Services
United States
Chino

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