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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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Record Earnings Announced by County Commerce Bank for 4th Quarter 2011

County Commerce Bank (OTCBB:CNYB), Ventura County’s award winning bank and the only community bank headquartered in Ventura and Santa Barbara Counties to earn the Five Star “Superior” award by BauerFinancial, Inc., reported record earnings for the year ending December 31, 2011. Total assets were $185,462,000, an 8.85% increase from December 31, 2010.  Total deposits were $160,600,000, a 6.98% increase from year ending 2010. Earnings for 2011 were $1,533,000 compared to $1,212,000 for 2010, an increase of $320,000 or 26.41% over the same period. Shareholder Equity increased by $1,715,000, from $14,441,000 to $16,156,000; an 11.88% increase from 2010.

The Bank’s loan portfolio increased to $106,559,000 at year end, compared to $101,429,000 at year end 2010, an increase of 5.06%. The Bank is focused on growing the bank’s loan portfolio while maintaining its high quality. The Bank continues to support the local community and strengthen its economy by lending to local businesses and individuals. Utilizing their proven approach to lending, County Commerce Bank provides its clients the most credit possible while maintaining high lending standards.

The bank has no non-performing assets, but during 2011, the Bank increased its Allowance for Loan and Lease Losses by $299,000 or 12.40% to $3,001,000 as an abundance of caution. This positions the Bank’s percentage of Loan Loss Reserves at 2.82% of total average loans, well above the national average for banks.

The announcement was made by Joseph D. Kreutz, President and Chief Executive Officer. “Even with the uncertain economic environment the bank continues to excel, thanks to the strong foundation built with our proven management philosophy and dedication to prudent growth.” Kreutz further added, “Recognized as an extremely efficient organization, County Commerce Bank focuses on controlling expenses while efficiently delivering products with the highest level of personalized service. Through experienced underwriting, we grow our loan portfolio with high quality loans to individuals and businesses. County Commerce Bank sustains its honored position at the top of its class and we are pleased to be able to share the benefits of our success with our customers and our community.”

Selected Financial Highlights and Awards as of December 31, 2011:

  • Return on average equity (annualized) at 10.03%.
  • Allowance for Loan and Lease Losses at 2.82% of total loans.
  • Tier 1 Capital Ratio at 8.78%; considered to be a “Well Capitalized” institution by FDIC.
  • Super Premier Performing Bank or Premier Performing Bank by Findley Reports for the last six consecutive years.
  • Five-Star “Superior” rating by BauerFinancial Inc., for more than 27 consecutive quarters.
  • Recognized by U.S. Banker’s magazine as one of the Top 200 Community 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 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.

Selected Financial Data


Twelve months ended December 31,

2011 2010
Income statement summary Unaudited Audited
Net interest income $       6,487,000 $       6,348,000
Noninterest income              315,000              422,000
Noninterest expense            3,900,000            3,965,000
Provision for loan losses              299,000              745,000
Income before income tax            2,603,000            2,060,000
Income tax            1,070,000              848,000
Net income $       1,533,000 $       1,212,000
Balance sheet summary
Loans $    106,559,000 $   101,429,000
Allowance for loan losses            3,001,000            2,670,000
Deposits        160,600,000        150,128,000
Stockholders’ equity          16,156,000          14,441,000
Total assets        185,462,000        170,383,000
Common stockholders’ data
Basic earnings per share (annualized) $               1.28 $               1.02
Book value per share $             13.38 $             13.40
Capital ratios
Tier 1 leverage ratio 8.78% 8.36%
Tier 1 risk-based capital ratio 13.66% 13.08%
Total risk-based capital ratio 14.94% 14.36%
Financial ratios (annualized)
Return on average assets 0.86% 0.73%
Return on average equity 10.03% 8.76%
Efficiency ratio 57.34% 58.57%
Net interest margin 3.53% 4.05%
Asset Quality
Nonaccrual loans 0 0
Charge-off 3 11