Pacific Commerce Bank

Pacific Commerce Bank reported that net income fell by 5% to $68,511 for the third quarter ended Sept. 30. Net income rose by 47% to $194,746 for the nine-month period ended Sept. 30. Assets rose 18% to $26 million. Pacific Commerce reported that total loans rose by 28% to $16 million and deposits increased by 17% to $21 million.

Hoping to fill a void created by the pullback of Japanese banks from the California market, a group of Japanese American investors have set up their own bank in Los Angeles. Tucked away in a mini-mall at the edge of Little Tokyo, Pacific Commerce Bank is believed to be the only Japanese American-owned bank operating outside of Hawaii. Backed by 160 investors and $7.6 million in capital, the small bank is hoping to build its base around the Japanese American and Japanese expatriate communities.

Larry L. Benthien has resigned his position as executive vice president and senior loan officer of Pacific Commerce Bank.

Pacific Commerce Bank reported that net income fell by 5% to $68,511 for the third quarter ended Sept. 30. Net income rose by 47% to $194,746 for the nine-month period ended Sept. 30. Assets rose 18% to $26 million. Pacific Commerce reported that total loans rose by 28% to $16 million and deposits increased by 17% to $21 million.