Bank of Commerce Holdings (BOCH) Reports Q3 EPS of $0.18

Bank of Commerce Holdings (NASDAQ: BOCH) reported Q3 EPS of $0.18, versus $0.18 reported last year.

Financial highlights for the third quarter of 2016:

• Net income available to common shareholders of $2.4 million for the three months ended September 30, 2016 was a decrease of $109 thousand (4%) from $2.5 million available to common shareholders earned during the same period in the prior year
• Return on average assets declined to 0.86% for the third quarter of 2016 compared to 0.99% for the same period in the prior year
• Return on average equity improved to 10.10% for the third quarter of 2016 compared to 9.12% for the same period in the prior year
• Deposits at September 30, 2016 totaled $975.5 million, an increase of $38.0 million (16% annualized) since June 30, 2016. This growth which occurred in both our Sacramento and Redding marketplaces was centered entirely in core deposits
• Gross loans at September 30, 2016 totaled $779.0 million, an increase of $24.9 million (13% annualized) since June 30, 2016. All of this growth occurred in the our Sacramento marketplace and is the result of investments in our SBA division and in our expanded Sacramento commercial banking group
• Nonperforming assets at September 30, 2016 totaled $10.9 million or 0.98% of total assets, a decrease of $803 thousand (27% annualized) since June 30, 2016
• Tangible book value per common share was $6.84 at September 30, 2016 compared to $6.71 at June 30, 2016

For earnings history and earnings-related data on Bank of Commerce Holdings (BOCH) click here.

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