California Commercial Bankshares, the holding company for National Bank of Southern California in Santa Ana, posted net income of $335,892 in the third quarter, a 35.7% increase from the $247,480 posted a year earlier. In the first nine months, the holding company's net income grew 17.3% to $731,114 from $623,462.
The quarterly income was reached even after the company's taxes more than doubled to $375,000, said William Jacoby, company chairman and chief executive.
At the end of September, California Commercial's total assets were $121 million, up 38.1% over its $87.6 million in assets a year earlier.
The bank's total net loans and leases at the end of the period rose 35.6% to $83.4 million from $61.5 million, and total deposits grew 39% to $109.1 million from $78.5 million.