Peoples Bank of Commerce reported earnings results for the third quarter and nine months ended September 30, 2009. The bank reported modest earnings for the third quarter of 2009 of $48,000, a substantial improvement from the $534,000 loss reported in the previous quarter. These earnings are also favorable compared to the $7,000 loss in the same quarter of 2008. The bank reported earnings of $0.05 per share for the three months ended September 30, 2009 compared to the loss of one cent per share in 2008. For the nine months ended September 30, 2009, People's Bank had a net loss of $434,000 compared to a profit of $73,000 for the same period in 2008. On a per share basis, a loss of $0.48 per share in 2009 is compared to $0.08 earnings per share in 2008. Year to date 2009 results are tempered by the large additions the bank made to its loan loss reserve totaling $1,110,500 compared to $105,000 the same period in 2008. Book Value, per share was $11.91 against $12.52 of previous year period.

Peoples Bank of Commerce reported earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the bank reported a loss of $534,000 or $0.59 per share, compared to a profit of $3,500 during the same period in 2008. The bank's second quarter 2009 pre-tax income, without loan loss provision, was $117,000 compared to $72,000 for the same quarter in 2008. Total interest income for the second quarter 2009 was $1.3 million, 6% lower than the second quarter of 2008, primarily the result of an increase in non-accrual loans and the historically low prime rate. For the six months period, the bank reported that, modest earnings during the first quarter helped to reduce the year to date loss to $482,000 or $0.53 per share, compared to a profit of $79,000 or $0.09 per share, adjusted for a stock dividend, in 2008. At June 30, 2009, the company's book value per share was $11.77 compared to $12.62 at June 30, 2008. Net interest income prior to the provision for loan losses was down 1% over the prior year's quarter and 3% for the first six months.

The board of directors of Peoples Bank of Commerce announced that it has declared its fourteenth quarterly cash dividend-$0.05 per share. The $0.05 dividend will be paid on September 1, 2009, to shareholders of record August 15, 2009.