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3260 Telegraph Rd.
Ventura, CA 93003
(805) 477-7600




2400 E. Gonzales Rd. Oxnard, CA 93036
(805) 485-7600




2357-B Pickwick Dr.
Camarillo, CA 93010
(805) 482-7600


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County Commerce Bank Reports $1.8 Million Net Earnings for 2013

VENTURA, CA — County Commerce Bank (OTCBB:CNYB), the only community bank headquartered in Ventura County recognized by The Findley Reports as a “Super Premier Performing Bank” based on 2012 operating results, continued its strong earnings performance for the fourth quarter of 2013. The bank’s year-to-date efficiency ratio is 59.6% and is consistently one of the best in the community bank industry.

County Commerce Bank continues to post exceptionally strong earnings, particularly in light of the negative impact of compression on Net Interest Rate Margin resulting from the current extended low interest rate environment. Earnings for the fourth quarter 2013 were $302,762 compared to $207,837 for the fourth quarter 2012. Earnings for the twelve months ended December 31, 2013 were $1,805,000 compared to $1,724,000 for the same period of 2012. Total assets were $223,585,000, a 9.9% increase over December 31, 2012. Total deposits were $193,843,000, a 7.6% increase over December 2012. Capital for 2013 has increased by $1,973,000 ending at $20,481,000. Book value per common share increased $1.26 in 2013.

The Bank’s loan portfolio increased to $127,209,000 at the end of the fourth quarter 2013, compared to $120,296,000 for the fourth quarter of 2012, an increase of 5.8%. As Ventura County’s premier community bank, County Commerce has consistently utilized its excellent liquidity and strong capital to strengthen the local community and its economy by providing much needed capital to local businesses and individuals. The bank has no non-performing loans and no charge-offs. A primary focus of the bank is maintaining a high quality loan portfolio and further development of new loan growth, including the recent addition of residential mortgage loans to their list of loan offerings.

Based on 2012 financial results, Ventura County’s award winning and locally owned County Commerce Bank has been recognized by financial industry ratings organizations as one of the nation’s best performing banks and one of the highest rated banks on California’s central coast. County Commerce Bank was nationally recognized by American Banker magazine as one of the Top 200 Community Banks (ranked by 3-year Average ROE). County Commerce Bank was the only bank headquartered in Ventura County and the sixth highest of the California banks included on the list of the Top 200 Community Banks because of its Return on Average Equity (ROE) over the past three years of 9.6%. On June 28, 2013 President Joseph Kreutz accepted the Small Business of the Year award from the Oxnard Chamber of Commerce in recognition of the bank’s significant contribution to the betterment of the Oxnard community. The bank was also voted Favorite Bank in West Ventura County 2013 by the Ventura County Star Newspaper. In addition, the bank staff nominated and the Ventura Chamber of Commerce honored President Kreutz as the 2013 Citizen of the Year for his dedication and contribution to the local community.

For the 35th consecutive quarter, the bank earned BauerFinancial’s Five Star “Superior” rating which indicates that County Commerce Bank is one of strongest financial institutions in the nation. President and Chief Executive Officer Joseph D. Kreutz stated, “2013 was not without its challenges, but working together and staying focused on our commitment to increasing our shareholder value and the success of our customers, the bank finished another year with strong earnings. County Commerce Bank is all about community banking and we are the premier community bank in Ventura County for that reason.”

Selected Financial Highlights and Awards as of December 31, 2013:

Ø Return on average equity (annualized) at 9.29%.

Ø Allowance for Loan and Lease Losses at 2.17% of total loans.

Ø Tier 1 Leverage Ratio at 9.15%; above 5.00% is deemed “Well Capitalized” by FDIC.

Ø Super Premier Performing Bank or Premier Performing Bank by The Findley Reports for the past eight consecutive years.

Ø Five-Star “Superior” rating by BauerFinancial Inc., for more than 35 consecutive quarters.

Ø Recognized by U.S. Banker’s magazine as one of the Top 200 Community Banks out of 8,000 banks in the nation based on three year average ROE.


County Commerce Bank was founded by local professionals and business leaders in Ventura County and completed its initial public offering of stock on January 21, 2003. The Bank opened for business at 3260 Telegraph Road, Ventura, California on February 13, 2003 and opened its second branch located at 2400 E. Gonzales Road, Oxnard on April 30, 2007. County Commerce Bank opened a third branch in May 2012 at 2357-B Pickwick Drive in Camarillo. County Commerce Bank provides financial solutions for local professionals and small businesses, offering its customers state of the art technology along with a traditional, personalized banking experience. County Commerce Bank stock is traded on the Over the Counter Bulletin Board (OTCBB); our Ticker Symbol is CNYB.

County Commerce Bank’s stock is traded through Market Maker:
Crowell, Weedon & Co.
Community Bank Group
Michael R. Natzic, Senior Vice President/Branch Manager
Member FINRA – Member SIPC
P.O. Box 1688
Big Bear Lake, CA 92315
(800) 288-2811

The Bank’s web site is

Statements concerning future performance, developments or events concerning expectations for growth and market forecasts, and any other guidance on future periods, constitute forward looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, the effect of interest rate changes, the ability to control costs and expenses, the impact of consolidation in the banking industry, financial policies of the United States government, and general economic conditions.

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Selected financial data attached

Selected Financial Data
 Twelve months ended December 31,
Income statement summary
Net interest income
 $        6,715,000
$        6,505,000
Noninterest income
Noninterest expense
Provision for loan losses
        – 227,000 
Income before income tax
Income tax
Net income
 $        1,805,000
 $        1,724,000
Balance sheet summary
 $    127,209,000
 $    120,296,000
Allowance for loan losses
Stockholders’ equity
Total assets
Capital ratios
Tier 1 leverage ratio
Tier 1 risk-based capital ratio
Total risk-based capital ratio
Financial ratios (annualized)
Return on average assets
Return on average equity
Efficiency ratio
Net interest margin