Profit, Assets Rise for CommerceBank

CommerceBank of Newport Beach reported a 10% hike in profits for its first quarter with net earnings of $207,000 up from $188,000 for the same period last year. From March, 1984, to March, 1985, the 6-year-old, two branch bank also showed a 14% increase in assets, up from $107.3 million to $122 million; a 19% increase in loans, to $82.9 million from $69.7 million, and a 14% increase in deposits, from $98 million to $111.9 million. In addition, CommerceBank officials reported a March 31 ratio of capital to assets of 7.8%. The Federal Deposit Insurance Corp. considers a 6% capital-to-assets ratio to be the minimum acceptable level for an independent bank. CommerceBank primarily serves small- and medium-sized businesses.