California Bank Of Commerce announced unaudited earnings results for the third quarter ended September 30, 2009. For the quarter, the company reported net interest income after provision of $1,217,000 compared to $513,000 for the same period a year ago. Net loss was $96,000 or $0.054 per basic share compared to $2,855,000 or $1.038 per basic share for the same period a year ago. During the third quarter, net interest income increased by $185,294 from the second quarter 2009, as a result of strong earning asset growth, offsetting a decline in the net interest margin. The 2008 loss was affected by a write down of the Bank's FNMA investment of $2,045,875. Interest income was $1,784,000 against $1,282,000 for the same period in the last year. Net interest income before provision was $1,442,478 for the third quarter 2009, up $604,401 over $838,000 for the same period in 2008. Improvements in loan yields and volume, as well as lower cost of funds contributed to the increase in net interest income.

California Bank of Commerce announced financial results for the second quarter ended June 30, 2009. For the quarter, the company reported a net loss of $693,984 or $0.252 per share, which represented a $381,880 or $0.391 per share, or 35% improvement over the loss in the second quarter of 2008. Net Income was negatively impacted by the increase in the Bank's contribution to the allowance for loan losses ($475,000) and by an FDIC special assessment that was levied on all banks during the quarter ($65,790). Excluding the provision for loan losses and FDIC special assessment, the Bank reduced its 2009 second quarter loss by $607,670 compared to the second quarter 2008 and made a $313,139 improvement compared to the first quarter of 2009. Net Interest Income was $1,257,184 for the second quarter 2009, up $663,292 over the same period in 2008.

California Bank Of Commerce announced that Leslee Olson has joined the Bank as Senior Vice President, Relationship Manager. Prior to joining California Bank of Commerce, Ms. Olson was Vice President of the Private Client group for U.S. Bank in Walnut Creek where she provided relationship banking to high net worth individuals and their related companies.