BONC Bank Of Commerce featured news, full reports, and detailed charts
Bank Of Commerce (BONC/BONC.OB) Wrap Up:
Bank of Commerce provides various banking products and services for individuals and businesses principally in Mecklenburg County in the Charlotte region of North Carolina. It generates deposit products, including demand deposits, money market accounts, savings accounts, time deposits, checking accounts, sweep accounts, and certificates of deposit. The company also provides commercial loans, including equipment loans, commercial lines of credit, real estate loans, and construction loans/permanent real estate financing; and personal loans, such as auto loans, recreational vehicle loans, boat loans, home equity loans/lines, motorcycle loans, and residential lot loans. In addition, it offers onl...www.bankofcommercenc.com
Founded in 2006
Bank of Commerce (BONC:OTC Bulletin Board Market)
LAST $4.60 USD
CHANGE TODAY 0.00 0.00%
VOLUME 0.0
As of November 18, 2009 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of Bank of Commerce (BONC)
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OPEN
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PREVIOUS CLOSE
$4.60
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DAY HIGH
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DAY LOW
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52 WEEK HIGH
02/25/09 - $8.00
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52 WEEK LOW
10/22/09 - $3.30
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MARKET CAP
7.4M
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AVERAGE VOLUME 3 mo
310.0
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DILUTED EPS TTM
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SHARES OUTSTANDING
1.6M
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BONC Does Not Pay Dividends
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P/E TTM
NM
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BONC Top Compensated Officers
No compensation data is available at this time for the top officers at this company.
Executives, Board Directors
Key developments for Bank of Commerce (BONC)
Bank of Commerce Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2009
10/20/2009
Bank of Commerce reported unaudited earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company's total interest income was $2,024,000 compared with $1,686,000 for the same period a year ago. Net interest income was $1,247,000 compared with $1,013,000 for the same period a year ago. Net loss applicable to common shareholders was $1,326,000 compared with net income applicable to common shareholders of $15,000 for the same period a year ago. Loss before taxes was $1,278,000 compared with income before taxes of $15,000 for the same period a year ago. For the nine months, the company's total interest income was $5,725,000 compared with $4,753,000 for the same period a year ago. Net interest income was $3,322,000 compared with $2,877,000 for the same period a year ago. Net loss applicable to common shareholders was $3,987,000 compared with net income applicable to common shareholders of $201,000 for the same period a year ago. Loss before taxes was $3,848,000 compared with income before taxes of $201,000 for the same period a year ago.
Bank of Commerce Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2009
07/28/2009
Bank of Commerce reported earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported net loss applicable to common shareholders was $2.7 million against net income applicable to common shareholders was $94,000 for same period a year ago. Loss before taxes for the period was $2.6 million against income before taxes for the period was $94,000 for same period a year ago. Net interest income for the period was $1.1 million against $951,000 for same period a year ago. Total interest income for the period was $1.9 million against $1.5 million for same period a year ago. For six months, the company reported net loss applicable to common shareholders was $2.7 million against net income applicable to common shareholders was $186,000 for same period a year ago. Loss before taxes for the period was $2.6 million against income before taxes for the period was $186 million for same period a year ago. Net interest income for the period was $2.1 million against $1.9 million for same period a year ago. Total interest income for the period was $3.7 million against $3.1 million for same period a year ago.
Bank of Commerce Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2008
01/13/2009
Bank of Commerce reported earnings results for the fourth quarter and full year ended December 31, 2008. For the quarter, the company reported net income of $74,000 compared to $70,000 for the same period last year. The company reported net income for the year ended December 31, 2008 of $275,000 compared to a loss of $472,000 for the year ended December 31, 2007.
BONC Competitors
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Industry Analysis
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BONC transactions
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More Recent News About Bank Of Commerce
More news for BONC
Extradited banking fugitive arrives in Thailand
BANGKOK (AP) -- A fugitive former adviser to a Thai bank whose failure caused a crisis of confidence that helped spark the 1997 Asian financial meltdown arrived Friday night in Bangkok after his extradition from Canada. Rakesh Saxena, 57, had staged one of the longest extradition battles in Canadian history to avoid being sent back to face charges he helped embezzle $88 million from the Bangkok Bank of Commerce, which collapsed in 1995. The bank had about $3 billion in bad debt when it was shut down.Saxena was a financial adviser to the bank, which made millions of dollars of fraudulent loans to cronies of the management. Its failure exposed the weaknesses of the Thai financial system, which had expanded meteorically with little oversight during Thailand's boom years, and helped trigger the devastating 1997 Asian financial crisis.A spokesman for Thailand's Attorney General said Saxena has over 20 cases pending against him under the Securities Exchange Act. Thailand's statute of limitations on charges under the law will run out in July 2010.Thai PBS and other local television stations reported that the plane carrying Saxena arrived at Bangkok's Suvarnabhumi Airport about an hour after its scheduled 9:20 p.m. (1420 GMT) time. In the custody of Thai officials, he did not immediately appear before a swarm of waiting press, though he was seen by reporters during a transit stop in Beijing."We will take him to the (police) Crime Suppression Bureau and he will receive a medical checkup because his body is quite run down," said Sirisak Tiyapan, Director-General for International Affairs of Thailand's Attorney General's Office. "The doctors will decide whether he needs to be hospitalized."Rakesh suffered a stroke last March and uses a wheelchair."He is facing serious charges (for actions) which led to a crisis of confide...Click here to read the whole Article (external link)
Fugitive banker extradited to Thailand
VANCOUVER, British Columbia (AP) -- A fugitive banker's long fight against extradition ended Thursday as he was put on a plane back to Thailand, where he faces charges of fraud that Thai officials say contributed to the 1990s Asian financial crisis. Banker Rakesh Saxena had been fighting for 13 years to avoid being returned to Thailand to face charges he embezzled $88 million from the Bangkok Bank of Commerce, which collapsed in 1995. It was one of the longest extradition fights in Canada's history.Canadian Department of Justice spokeswoman Lyse Cantin said Saxena has been handed over to Thai authorities and is on his way there. His lawyer said he was traveling from Vancouver to Beijing and then to Thailand, arriving in Bangkok Friday night.The Supreme Court of Canada on Thursday turned down his request to hear his case, setting in motion his extradition.Saxena, who suffered a stroke last March and uses a wheelchair, was living under house arrest during much of his extradition battle, but has been in jail most recently.His Canadian lawyer, Amandeep Singh, said his client accepted the court's decision."He's ready to defend himself in Thailand," Singh said.Singh said there were concerns Thailand might add further charges to those on which Saxena was sought for extradition, but that Canada has been assured by Thai authorities that he will be tried only on the securities charges.A spokesman for the Office of Thailand's Attorney General said Saxena has over 20 cases pending against him.Saxena was an adviser for the Bangkok Bank of Commerce when Thai authorities charged him in 1996 with setting up a series of phony loans to siphon millions from the bank.Saxena fled Thailand and was arrested later that year in the British Columbia ski resort town of Whistler.The ...Click here to read the whole Article (external link)
Fugitive banker can be extradited to Thailand
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Bank of Commerce Grows Deposits and Loans, Posts Third Quarter Loss
CHARLOTTE, N.C., Oct. 20 /PRNewswire-FirstCall/ -- Bank of Commerce (OTC Bulletin Board: BONC - News) posted a net loss of $1,278,000 for the quarter ending September 30, 2009, compared to net income of $15,000 for the same period last year. Total assets have grown from $145.5 million at December 31, 2008 to $175.7 million as of September 30, 2009 with gross loans increasing to $124.6 million and deposits increasing to $111.1 million. Strong operating earnings for the quarter were offset by a significant increase in loan loss reserves. Dramatic decreases in real estate value prompted the Bank to re-appraise many of the real estate backed loans in its portfolio to determine if they were adequately collateralized. For those that had a collateral deficiency the Bank either requested additional collateral from the borrower or increased loan loss reserves accordingly. This loan loss reserve expense is the direct cause of the third quarter loss. During the third quarter $1,679,000 was added to the allowance for loan losses primarily a result of loan charge-offs of $2,341,000."Bank of Commerce continues to exceed the FDIC's well capitalized standards," said Wes Sturges, President & CEO. "We have taken an aggressive approach in loan charge-offs, which we feel positions us appropriately in the current real estate market."The Bank's net loss for the nine months ended September 30, 2009 was $3,848,000, compared to net income of $201,000 for the same period last year. During the year, $4,651,000 was added to the allowa...Click here to read the whole Article (external link)
NHL owner gets more than 8 years in prison
SAN FRANCISCO (AP) -- A federal judge on Tuesday sentenced Silicon Valley financier William "Boots" Del Biaggio III to more than eight years in prison for bilking investors and banks -- including one he helped launch -- out of millions of dollars in a desperate attempt to buy a pro hockey team. The disgraced scion of a prominent San Jose family is to report to prison in January, capping a long fall for a former high roller who counted hockey great Mario Lemieux as a golfing buddy and who jetted on private planes to Las Vegas, where he amassed a $4 million gambling debt.Del Biaggio pleaded guilty to one charge of forging financial documents to obtain $110 million in loans from several banks and two NHL owners -- Craig Leopold of the Minnesota Wild and Los Angeles Kings owner AEG. Del Biaggio used the money to purchase a controlling interest in the Nashville Predators.Del Biaggio set his crime in motion by turning to David Cacchione, a financially strapped stockbroker at Merriman Curhan Ford Group Inc. who owed him $2 million. According to federal prosecutors and the SEC, Cacchione e-mailed Del Biaggio account statements from several wealthy Merriman clients showing tens of millions of dollars worth of stock holdings.Del Biaggio then doctored the account statements by cutting out the clients' names and pasting in his own and presenting them to the banks and NHL owners as collateral. Auditors examining Merriman's books uncovered the fraud last year. Cacchione has pleaded guilty to one fraud charge and is scheduled to be sentenced Sept. 29.Henry Tang, Merriman's chief financial officer, on Tuesday told U.S. District Court Judge Charles Breyer that the scam cost the San Francisco-based company $10 million in legal fees and forced it reduce its staff from 188 employees to 85. Tang said the publicly traded company's share price has...Click here to read the whole Article (external link)
Canadian big banks top expectations
TORONTO (AP) -- Canada's major banks continue to show they largely avoided the financial meltdown experienced by banks south of the border and overseas. Canada's big five banks reported quarterly results this week and together they earned a combined total of $4.4 billion Canadian ($4 billion) in the third quarter, up $500 million Canadian ($458 million) from $3.9 billion Canadian ($3.6 billion) a year earlier.Craig Fehr, bank analyst at Edward Jones in St. Louis, said Friday that with the exception of Canadian Imperial Bank of Commerce, all the major banks roundly beat analyst expectations.While the U.S. has seen 81 banks fail in 2009 alone, Canada has not experienced the failure of any major financial institution.There has been no crippling mortgage meltdown or banking crisis north of the border, where the financial sector is dominated by five large banks.President Barack Obama said earlier this year that the United States should "take note" of how Canada has shown itself to be a good manager of its financial system. Prime Minister Stephen Harper has said Canada has strong regulation that encourages a cautious culture in the banks.Canada's big banks weren't as leveraged as their international peers. The World Economic Forum has said Canada has the most sound financial system in the world, with a rating of 6.8 out of 7.Canada's banks avoided the subprime mortgage mess. A top executive at the Royal Bank of Canada also noted a robust spring mortgage season.The Bank of Montreal's adjusted earnings per share beat analyst expectations by 11 percent, while TD topped expectations by 20 percent, Royal beat expectations by 33 percent and Scotiabank exceeded predictions by 4 percent. CIBC was the only major bank to disappoint investors, missing expectations by two percent."I don't know that their reputation...Click here to read the whole Article (external link)
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