CNBF Commerce National Bank featured news, full reports, and detailed charts
Commerce National Bank (CNBF/CNBF.OB) Wrap Up:
Commerce National Bank offers commercial banking services primarily to the business and professional community, and individuals in Orange County, California. Its deposit products include personal and business checking accounts, savings accounts, money market accounts, and time deposit accounts. The company offers loan products, such as small business administration loans; real estate loans, such as commercial real estate and construction loans; and consumer loans for automobiles, boats, recreation vehicles, home improvement, home equity, debt consolidation, and other personal needs. It also offers products, such as accounts receivable financing, inventory financing, equipment financing, real...www.commercenatbank.com
32 Employees
Founded in 2003
Commerce National Bank (CNBF:OTC Bulletin Board Market)
LAST $5.25 USD
CHANGE TODAY -0.15 -2.78%
VOLUME 2.0K
As of 1:45 PM 11/20/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of Commerce National Bank (CNBF)
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OPEN
$5.35
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PREVIOUS CLOSE
$5.40
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DAY HIGH
$5.35
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DAY LOW
$5.25
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52 WEEK HIGH
12/22/08 - $8.50
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52 WEEK LOW
07/30/09 - $4.50
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MARKET CAP
0.0
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AVERAGE VOLUME 3 mo
1.3K
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DILUTED EPS TTM
--
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SHARES OUTSTANDING
0.0
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CNBF Does Not Pay Dividends
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P/E TTM
NM
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CNBF Top Compensated Officers
No compensation data is available at this time for the top officers at this company.
Executives, Board Directors
Key developments for Commerce National Bank (CNBF)
Commerce National Bank Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2009
11/4/2009
Commerce National Bank reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net income of $105,000 or $0.04 per diluted share on interest income of $2,654,000 as compared to a net loss of $152,000 or $0.06 per diluted share on interest income of $3,064,000 for the same period in 2008. The company reported income before income taxes of $462,000, net interest income after provision for loan losses of $1,822,000 and net interest income of $2,022,000 compared to loss before income taxes of $359,000, net interest income after provision for loan losses of $1,968,000 and net interest income of $2,343,000 for the same period a year ago. For the nine months, the bank reported a net loss of $130,000 or $0.05 per diluted share on interest income of $7,853,000 as compared to net income of $254,000 or $0.10 per diluted share on interest income of $8,920,000 for the same period in 2008. The company reported income before income taxes of $65,000, net interest income after provision for loan losses of $5,262,000 and net interest income of $5,987,000 compared to income before income taxes of $138,000, net interest income after provision for loan losses of $6,116,000 and net interest income of $6,818,000 for the same period a year ago. Net interest income decreased $321,000 and $831,000 for the three and nine month periods ended September 30, 2009, respectively, compared to the same periods of the prior year due to lower interest rates.
Commerce National Bank Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2009
07/30/2009
Commerce National Bank announced unaudited earnings results for the second quarter and six months ended June 30, 2009. For the quarter ended June 30, 2009, the company reported a net loss of $82,000 or $0.03 per diluted share, compared to net income of $382,000, or $0.14 per diluted share for the same quarter last year. Loss before income taxes was $139,000, compared to income before income taxes of $502,000 for the same quarter last year. Total interest income was $2,640,000, compared to $2,960,000 for the same quarter last year. Net interest income was $1,994,000, compared to $2,303,000 for the same quarter last year. For the six months ended June 30, 2009, the company reported a net loss of $234,000 or $0.09 per diluted share, compared to net income of $406,000 or $0.15 per diluted share, for the six months ended June 30, 2008. The major items contributing to the $234,000 year-to-date net loss was $260,000 for an 'Other Than Temporary Impaired' charge on one of the investments the Bank holds, $525,000 expensed for loan loss provisions, and $101,000 for a special one time assessment for the FDIC insurance fund. Loss before income taxes was $397,000, compared to income before income taxes of $497,000 for the same period last year. Net interest income was $3,965,000, compared to $4,475,000 for the same period last year. Total interest income was $5,199,000, compared to $5,856,000 for the same quarter last year.
Commerce National Bank Appoints Paul L. Sandoval as Vice President in the Bank's Business Development Division
07/14/2009
Commerce National Bank announced that Mr. Paul L. Sandoval has joined Commerce National Bank as Vice President in the bank's business development division. In addition to holding management-level positions with several financial institutions during his career, Mr. Sandoval also ran his own successful mortgage and business loan brokerage company for 20 years.
CNBF Competitors
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Industry Analysis
| Valuation | CNBF | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 2.0x |
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| Price/Book | 0.5x |
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| Price/Cash Flow | -- | Not Meaningful |
| TEV/Sales | -- | Not Meaningful |
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More Recent News About Commerce National Bank
More news for CNBF
Commerce National Bank Announces Third Quarter 2009 Results
NEWPORT BEACH, CA--(Marketwire - 11/03/09) - Commerce National Bank (OTC.BB:CNBF - News), a community business bank in its sixth year of operation, announced its financial results for the third quarter and first nine months of 2009. For the three month period ended September 30, 2009, the Bank reported net income of $105,000 as compared to a net loss of $152,000 for the same period in 2008. For the nine month period ended September 30, 2009, the Bank reported a net loss of $130,000 as compared to net income of $254,000 for the same period in 2008. For the three and nine month periods ended September 30, 2009, respectively, the Bank recorded provisions for loan and lease losses of $200,000 and $725,000 as compared to provisions of $375,000 and $702,000 for the similar periods in 2008. For the three and nine month periods ended September 30, 2009, respectively, the Bank recognized losses in its investment portfolio of $167,000 and $427,000 for the portion of an investment that is considered to be Other Than Temporarily Impaired (OTTI). For the three and nine month periods ended September 30, 2008, respectively, the Bank recognized OTTI losses in its investment portfolio of $359,000. For the three and nine month periods ended September 30, 2009, respectively, the Bank recorded income tax expense of $358,000 and $195,000 as compared to the recording of income tax benefits of $207,000 and $116,000 for the similar periods in 2008. Notwithstanding the profits for the quarter, the Bank continues to absorb losses in its investment por...Click here to read the whole Article (external link)
Commerce National Bank Announces the Repayment of $5,000,000 of TARP - CPP Capital
NEWPORT BEACH, CA--(Marketwire - 10/19/09) - Commerce National Bank (OTC.BB:CNBF - News), a community business bank now in its sixth year of operation, announced it has redeemed the Preferred Stock issued to the United States Treasury Department (the "UST") by repaying the $5 million received from the UST in January 2009 under the term of the Troubled Asset Relief Program -- Capital Purchase Program (the "TARP - CPP"). "When the TARP - CPP was originally proposed, only strong, well capitalized banks could apply for it," stated Mark Simmons, the President & CEO. "However, after several changes were made to the program, the public perception of it changed to a negative idea that the program was supplying bailout money to troubled banks. The Board of Directors earlier this year decided that it was in the shareholders' best interest to repay the TARP - CPP funds as the bank did not need them, and was not, and is not, a troubled or problem bank. With the redemption of the Preferred Stock, the Bank's equity is $28,588,492. That results in a Tier 1 capital to assets ratio of 12.7%, which is more than twice the minimum requirement to be well capitalized under applicable federal regulations. This ratio places Commerce National Bank among the best capitalized business banks operating in Orange County. The bank's Board of Directors, officers and staff will continue to focus on delivering the highest level of service to its business and professional customers and seek out new customers in the Orange County community."With offices ...Click here to read the whole Article (external link)
Commerce National Bank Announces 2009 2nd Quarter Results
NEWPORT BEACH, CA--(Marketwire - 07/30/09) - Commerce National Bank ("the Bank") (OTC.BB:CNBF - News), a community business bank in its sixth year of operation, announced its financial results for the quarter and six months ended June 30, 2009. For the quarter ended June 30, 2009, the Bank reported a net loss of $82 thousand, or ($0.03) per diluted share, compared to net loss of $152 thousand, or $0.06 per diluted share, for the quarter ended March 31, 2009. For the six months ended June 30, 2009, the Bank reported a net loss of $234 thousand, or ($0.09) per diluted share, compared to net income of $406 thousand, or $0.15 per diluted share, for the six months ended June 30, 2008. President and CEO Mark E. Simmons stated, "At June 30, 2009, the Bank exceeded all the requirements for well capitalized financial institutions, with a Tier 1 Capital to Average Assets ratio of 14.3%. We are actively seeking new deposit and loan relationships within the local business community. The major items contributing to the $234,000 year-to-date net loss were $260,000 for an 'Other Than Temporary Impaired' charge on one of the investments the Bank holds, $525,000 expensed for loan loss provisions, and $101,000 for a special one time assessment for the FDIC insurance fund."The Bank's total assets as of June 30, 2009, decreased $3.0 million, or 1%, to $234.5 million from $237.4 million at June 30, 2008. Net loans at June 30, 2009, increased $1.6 million, or 1%, to $133.3 million from $131.7 million at June 30, 2008. Total deposits decreas...Click here to read the whole Article (external link)
Commerce National Bank Announces the Appointment of Paul L. Sandoval
NEWPORT BEACH, CA--(Marketwire - 07/14/09) - Commerce National Bank (OTC.BB:CNBF - News), a community business bank, is pleased to announce that Mr. Paul L. Sandoval has joined Commerce National Bank as Vice President in the bank's business development division. With over 40 years of experience in the financial services industry, Mr. Sandoval has an extensive background in all areas of lending, with a focus on real estate lending. In addition to holding management-level positions with several financial institutions during his career, Mr. Sandoval also ran his own successful mortgage and business loan brokerage company for 20 years."Mr. Sandoval is a high-caliber financial services professional with an extensive knowledge-base. We are pleased to have him join our team of business bankers," said President and Chief Executive Officer Mark E. Simmons.Mr. Sandoval has a Bachelor of Arts degree in business administration from California State University at Fullerton. He holds a California Real Estate Broker's License and also has lifetime community college teaching credentials in banking and finance, and real estate finance.With offices in Newport Beach and the City of Fullerton, the Bank is well positioned to serve businesses, professionals and selected real estate customers in both the northern and southern areas of Orange County. The offices are staffed by experienced business bankers who are committed to providing exemplary service to their customers in the business community.Forward-Looking Statement...Click here to read the whole Article (external link)
Commerce National Bank Announces the Appointment of Jacquin M. Davidson
NEWPORT BEACH, CA--(Marketwire - 07/07/09) - (OTC.BB:CNBF - News) Commerce National Bank, a community business bank, is pleased to announce that Ms. Jacquin M. Davidson has joined Commerce National Bank as Vice President in the bank's business development division. Ms. Davidson is known as much for her business knowledge as her personal and results-oriented client service. For three decades she has been very active in many nonprofit organizations in Southern California and this experience has proven advantageous for this niche in relationship banking. Ms. Davidson also works with mid-sized business relationships and has been in banking for seven years."We are confident that Ms. Davidson's knowledge and leadership roles will make a significant contribution to the continuing growth of our Bank," stated President and CEO Mark E. Simmons.Ms. Davidson's community involvement has included leadership roles with Project Access, Susan G. Komen for the Cure, The Girl Scout Council of Orange County, the American Heart Association, Soroptimist International, Founding member of the Women's Philanthropy Fund, WPF Financial Literacy, WISE (Women Investing in Security & Education), Kids Konnected, Make-A-Wish LA, Special Olympics and A Charity for Charities. Davidson has been recognized with awards for her community service, both locally and nationally. Prior to her banking career, Jacquin owned a company involved with the entertainment industry. Her clients were celebrities, production companies and magazines from around the wo...Click here to read the whole Article (external link)
Commerce National Bank Announces 2009 1st Quarter Results
Expired Yahoo - Document Has Expired/iw/090430/0496244.html Options that might be of interest: Go to the Yahoo! home page. Go to the Yahoo! Finance home page. Go to the Yahoo! Loan Center. Go to the Yahoo! Insurance Center. Other resources: Message Boards - Stock Chat - Finance Clubs ...Click here to read the whole Article (external link)
Commerce National Bank Announces 2008 Year-End and Fourth Quarter Results
Commerce National Bank ("the Bank") (OTC.BB: CNBF), a community business bank in its sixth year of operation, announced its financial results for the full year and fourth quarter ended December 31, 2008. For the full year ended December 31, 2008, the Bank reported a net loss of $220 thousand, or ($0.08) per diluted share, compared to net income of $1.049 million, or $0.39 per diluted share, for the year ended December 31, 2007. For the quarter ended December 31, 2008, the Bank had a net loss of $474 thousand, or ($0.18) per diluted share, compared to net income of $347 thousand, or $0.13 per diluted share, for the same period a year ago. President and CEO Mark E. Simmons stated, "The decrease in earnings for the 4th quarter and the year ended December 31, 2008 was primarily due to the unprecedented turmoil in the financial markets and national economy during 2008, and the lower interest rate environment. The Bank added $1.3 million to our loan loss reserve during the year to help address what appears to be the most severe downturn in the economy in the last 40 years. Also during 2008, the Bank recorded 'other than temporarily impaired' charges of $834 thousand on one of the investments it holds."The Bank's total assets as of December 31, 2008, increased $15.6 million, or 7.6%, to $221.4 million from $205.8 million at December 31, 2007. Net loans at December 31, 2008, increased $14.7 million, or 12.3%, to $133.8 million from $119.1 million at December 31, 2007. Total deposits decreased $6.4 million, or 3.6%, to $170.4 million at December 31, 2008, compared to $176.8 million at December 31, 2007. Total equity decreased $74 thousand, or 0.3%, to $28.2 million at December 31, 2008, compared to $28.3 million at December 31, 2007.The Bank remains well-capitalized, with a Tier 1 Capital to Average Assets ratio of 13.0% at year end. Nevert...Click here to read the whole Article (external link)
Commerce National Bank Announces 2008 Year-End and Fourth Quarter Results
Commerce National Bank ("the Bank") (OTC.BB: CNBF), a community business bank in its sixth year of operation, announced its financial results for the full year and fourth quarter ended December 31, 2008. For the full year ended December 31, 2008, the Bank reported a net loss of $220 thousand, or ($0.08) per diluted share, compared to net income of $1.049 million, or $0.39 per diluted share, for the year ended December 31, 2007. For the quarter ended December 31, 2008, the Bank had a net loss of $474 thousand, or ($0.18) per diluted share, compared to net income of $347 thousand, or $0.13 per diluted share, for the same period a year ago. President and CEO Mark E. Simmons stated, "The decrease in earnings for the 4th quarter and the year ended December 31, 2008 was primarily due to the unprecedented turmoil in the financial markets and national economy during 2008, and the lower interest rate environment. The Bank added $1.3 million to our loan loss reserve during the year to help address what appears to be the most severe downturn in the economy in the last 40 years. Also during 2008, the Bank recorded 'other than temporarily impaired' charges of $834 thousand on one of the investments it holds."The Bank's total assets as of December 31, 2008, increased $15.6 million, or 7.6%, to $221.4 million from $205.8 million at December 31, 2007. Net loans at December 31, 2008, increased $14.7 million, or 12.3%, to $133.8 million from $119.1 million at December 31, 2007. Total deposits decreased $6.4 million, or 3.6%, to $170.4 million at December 31, 2008, compared to $176.8 million at December 31, 2007. Total equity decreased $74 thousand, or 0.3%, to $28.2 million at December 31, 2008, compared to $28.3 million at December 31, 2007.The Bank remains well-capitalized, with a Tier 1 Capital to Average Assets ratio of 13.0% at year end. Nevert...Click here to read the whole Article (external link)
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