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Westlake Village Office
2663 Townsgate Rd
Westlake Village, CA
(805) 557-7600

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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


Westlake Village


2663 Townsgate Rd.
Westlake Village, CA 91361
(805) 557-7600


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County Commerce Bank Reports Strong Earnings for 3rd Quarter 2009

Award-winning County Commerce Bank, the only community bank headquartered in Ventura and Santa Barbara County to earn the Five Star “Superior” award by BauerFinancial, Inc., reported continued growth during the third quarter of 2009. During the nine month period ending September 30, 2009, assets increased from $126,004,000 to $157,476,000; up $31,472,000 or 24.98%. Capital increased $758,000, from $12,171,000 to $12,929,000, a 6.23% increase in investor’s equity during the same period. The bank’s excellent liquidity position enabled it to continue investment in the local economy through loans to small and medium size businesses. The loan portfolio grew to $95,049,000; a $12,693,000 or 15.41% increase year to date. The loan portfolio was up $14,383,000, from $80,666,000 to $95,049,000 million or 17.83% over September 30, 2008. Most importantly, the bank’s loan portfolio quality continues to be excellent; the bank has never had a non-performing loan or even a reportable 30-day past due in it’s six year history. The bank has no sub-prime real estate loans or residential tract development loans. The bank’s loan loss reserve remains strong at 1.68% of total disbursed loans.

The bank reported net income after taxes of $241,000 for the third quarter, equal to $0.22 per share and a total of $758,000 or $0.70 per share for the first nine months of 2009. Net income year to date was up only slightly by $17,000 or 2.29% compared to year to date 2008, largely due to increase in reserves made to the Loan Loss Reserve account as abundance of caution, and also as a result of the continued compression on net interest margin due to lower interest rates. The bank’s return on equity remained strong at 5.87% for the first nine months of the year.

The announcement was made by Joseph D. Kreutz , President and Chief Executive Officer. Kreutz stated, “I am very pleased that the bank continues its solid performance. The bank’s reputation is excellent and our customer base continues to grow as word spreads about the exceptional service enjoyed by our existing customers.” Kreutz added, “Measured against its peers, the bank continues to be the leader of its class. County Commerce Bank is the top rated bank of all banks headquartered in Ventura and Santa Barbara Counties according to D.A. Davidson Co.”

County Commerce Bank has received Super Premier Performing Bank and Premier Performing Bank by Findley Reports for the last five consecutive years, Western Regional Winner of the Small Business of the Year Award in 2006 by the US Chamber of Commerce and Mid Sized Business of the Year 2006 by the Ventura Chamber of Commerce, Public Company of the Year 2008 by the Pacific Coast Business Times and the Five-Star “Superior” rating by BauerFinancial Inc., for more than 12 consecutive quarters.

County Commerce Bank was founded by local professionals and business leaders in Ventura County . Headquartered in the City of Ventura at 3260 Telegraph Road (one block west of Mills), with a second location in Oxnard at 2400 East Gonzales Road, County Commerce Bank assists local professionals and small businesses, offering its customers a traditional banking experience along with Bill Pay and Internet Banking.

County Commerce Bank completed its initial public offering of stock on January 21, 2003 and opened for business in Ventura, California on February 13, 2003. County Commerce Bank opened its second Branch located in Oxnard on April 30, 2007. County Commerce Bank stock is traded on the Over the Counter Bulletin Board (OTCBB) and our Ticker Symbol is CNYB. County Commerce Bank’s stock is traded through Market Maker.

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