Commonwealth Business Bank reported unaudited earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net income of $307,000 or $0.09 per diluted share on interest income of $3,937,000 compared to net income of $154,000 or $0.05 per diluted share on interest income of $4,256,000 for the same period last year. Net interest income was $2,405,000 compared to $2,402,000 for the same period last year. Income before income taxes was $561,000 compared to income before taxes of $314,000 for the same period last year. Return on average assets was 0.37% compared to negative return on average assets of 0.54% for the same period last year. Return on average equity was 2.50% compared to negative return on average equity of 3.58% for the same period last year. For the nine months, the company reported net loss of $540,000 or $0.19 per diluted share on interest income of $11,384,000 compared to net income of $837,000 or $0.26 per diluted share on interest income of $12,839,000 for the same period last year. Net interest income was $6,592,000 compared to $6,991,000 for the same period last year. Negative return on average assets was 0.23% compared to positive return on average assets of 0.41% for the same period last year. Negative return on average equity was 1.49% compared to positive return on average equity of 2.67% for the same period last year. Book value per common share was $13.24 compared to $13.53 per share for the same period last year. Loss before income taxes was $859,000 compared to income before taxes of $1.500,000 for the same period last year.

Commonwealth Business Bank reported unaudited earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported net loss of $435,000 or $0.14 diluted loss per share on interest income of $3,774,000 compared to net income of $261,000 or $0.08 diluted earnings per share on interest income of $4,207,000 for the same period last year. Net interest income for the period was $2,124,000 compared to $2,323,000 for the same period last year. Loss before income taxes for the period was $710,000 compared to income before taxes of $476,000 for the same period last year. Negative return on average assets for the period was 0.54% compared to return on average assets of 0.38% for the same period last year. Negative return on average equity for the period was 3.58% compared to return on average equity of 2.51% for the same period last year. For the six months, the company reported net loss of $847,000 or $0.27 diluted loss per share on interest income of $7,447,000 compared to net income of $683,000 or $0.21 diluted earnings per share on interest income of $8,583,000 for the same period last year. Net interest income for the period was $4,187,000 compared to $4,589,000 for the same period last year. Loss before income taxes for the period was $1,420,000 compared to income before taxes of $1,186,000 for the same period last year. Negative return on average assets for the period was 0.55% compared to return on average assets of 0.51% for the same period last year. Negative return on average equity for the period was 3.55% compared to return on average equity of 3.29% for the same period last year.

Commonwealth Business Bank reported unaudited earnings results for the first quarter ended March 31, 2009. For the quarter, the bank reported net loss of $412,000 or $0.13 basic and diluted loss per share, loss before income taxes of $710,000 on interest income of $3,673,000 against net income of $422,000 or $0.32 per basic and $0.31 diluted EPS, income before income taxes of $710,000 on interest income of $4,376,000 a year ago. Net interest income was $2,063,000 against net interest income of $2,266,000 reported a year ago. Loss on average assets was 0.56% against return on average assets of 0.65% a year ago. Negative return on average equity was 3.52% against return on average assets of 4.07% a year ago. Book value per share was $15.76 against $13.39 reported a year ago. The Bank also reported a revision of fourth quarter and full year 2008 results. Due to an increase in provision for loan losses, net loss was revised up to $629,000 or $0.20 diluted loss per share from net loss of $467,000 or $0.15 diluted earnings per share originally reported. For the same reason, net income for full year 2008 was revised down to $208,000 or $0.11 diluted earnings per share from $370,000 or $0.12 originally reported.

Commonwealth Business Bank Reports Net Income of $307,000 for the Third Quarter