CW Bancorp (QX) (CWBK)

$CWBK CW Bancorp Reports Record First Quarter 2021 with EPS of $0.99 and ROTE of 21.40%
Press Release | 04/28/2021
CW Bancorp (OTC: CWBK), the parent company (“the Company”) of CommerceWest Bank (the “Bank”) reported consolidated net income for the first quarter of 2021 of $3,647,000 or $0.99 a share as compared to $1,123,000 or $0.30 a share for the first quarter of 2020, an EPS increase of 230%.

Key Financial Results for the three months ended March 31, 2021:

Record net income growth of 225%
Record EPS of $0.99 up 230%
ROA of 1.26% up 66%
ROTE of 21.40% up 198%
Record deposit growth of $503 million up 89%
Record loan growth of $227 million up 50%
Record efficiency ratio of 41.78%
Net interest income up 31%
Interest expense down 52%
Cost of funds of 0.14% down 77%
Zero nonperforming loans
45 quarters of consecutive profits
ALLL to total loans ratio (net of PPP loans) of 1.79%
Noninterest-bearing deposits as percent of total deposits at 61%
Mr. Ivo Tjan, Chairman and CEO, said, “The Bank has improved its earnings power over the last twelve months and our core earnings reflect this with net interest income growth of 31%, ROA of 1.26% and a ROTE of 21.40%. Our company had strong revenue and balance sheet growth with a unique business model that has boded well for us during a world-wide pandemic and increased usage in online or mobile banking.”

Mr. Tjan continued, “We have stayed true to our business model and kept focused on our core competency. Over the years, the Bank has continued investing in a digital banking platform, both for our clients and for our employees, and it has served us well. We were well ahead of the curve with our digital strategy and believe the banking environment has been forever changed. We look forward to a bright future with continued market share growth in California.”

Total assets increased $546 million as of March 31, 2021, an increase of 86% as compared to the same period one year ago. Total loans increased $227 million as of March 31, 2021, an increase of 50% over the prior year. Cash and due from banks increased $314 million or 318% from the prior year. Total investment securities increased $6.3 million, an increase of 7% from the prior year.

Total deposits increased $502.8 million as of March 31, 2021, an increase of 89% from March 31, 2020. Non-interest-bearing deposits increased $340.7 million as of March 31, 2021, an increase of 111% over the prior year. Interest bearing deposits increased $162.1 million as of March 31, 2021, an increase of 62% over the prior period.

Interest income was $7,568,000 for the three months ended March 31, 2021 as compared to $6,251,000 for the three months ended March 31, 2020, an increase of 21.0%. Interest expense was $372,000 for the three months ended March 31, 2021 as compared to $769,000 for the three months ended March 31, 2020, a decrease of 52%. Ms. Leeann Cochran, Executive Vice President and CFO, commented, “The Bank has been strategic in reducing its cost of funds. We have rolled off high-cost deposit accounts and have grown our non-interest-bearing deposit relationships, which currently make up 61% of the Bank’s total deposits.”

Net interest income for the three months ended March 31, 2021 was $7,196,000 as compared to $5,482,000 for the three months ended March 31, 2020, an increase of 31%. The net interest margin decreased for the three months ended March 31, 2021. It decreased from 3.96% in 2020 to 2.65% in 2021, a decrease of 33%, largely due to PPP loans which are earning 1.0% interest.

There was no provision for loan losses for the three months ended March 31, 2021 compared to $2,143,000 for the three months ended March 31, 2020, a decrease of 100%. The allowance for loan losses (net of PPP loans) to total loans ratio increased from 1.64% as of March 31, 2020 to 1.79% as of March 31, 2021, an increase of 9%.

Non-interest income for the three months ended March 31, 2021 was $1,107,000 compared to $1,149,000 for the same period last year, a decrease of 4%.

Non-interest expense for the three months ended March 31, 2021 was $3,499,000 compared to $3,289,000 for the same period last year, an increase of 6%.

The efficiency ratio for the three months ended March 31, 2021 was 41.78% compared to 49.02% in 2020, which represents a decrease of 15%. The efficiency ratio illustrates that for every dollar made for the three-month period ending March 31, 2021, it cost $0.42 to make it, as compared to $0.49 one year ago.

Capital ratios for the Bank remain above the levels required for a “well capitalized” institution as designated by regulatory agencies. As of March 31, 2021, the tier 1 leverage ratio was 7.46%, the common equity tier 1 capital ratio was 14.89%, the tier 1 risk-based capital ratio was 14.89% and the total risk-based capital ratio was 16.15%.

CommerceWest Bank is a California based full-service business bank with a unique vision and culture of focusing exclusively on the business community by delivering on customized products and services. Founded in 2001 and headquartered in Irvine, California, the Bank serves businesses throughout the state of California. We provide a wide range of commercial banking services, including remote deposit solution, online banking, mobile banking, lines of credit, M&A / working capital loans, commercial real estate loans, SBA loans and treasury management services.

Mission Statement: CommerceWest Bank will create a complete banking experience for each client, catering to businesses and their specific banking needs, while accommodating our clients and providing them high-quality, low stress and personally tailored banking and financial services.

Please visit www.cwbk.com to learn more about the bank. “BANK ON THE DIFFERENCE”

Statements concerning future performance, developments or events, expectations for growth and income 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, loan production, balance sheet management, expanded net interest margin, the ability to control costs and expenses, interest rate changes, financial policies of the United States government and general economic conditions. The Company disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any forward-looking statements contained in this release to reflect future events or developments.

FIRST QUARTER REPORT - MARCH 31, 2021 (Unaudited)
%
CONSOLIDATED BALANCE SHEET Increase
(dollars in thousands) March 31, 2021 March 31, 2020 (Decrease)

ASSETS
Cash and due from banks
$

413,101



$

98,797



318

%

Securities available for sale


75,354





70,115



7

%

Securities held-to-maturity


1,100





-



0

%


Loans


681,543





454,916



50

%

Less allowance for loan losses


(9,386

)



(7,473

)

26

%

Loans, net


672,157





447,443



50

%


Bank premises and equipment, net


924





694



33

%

Other assets


20,910





20,143



4

%

Total assets
$

1,183,546



$

637,192



86

%


LIABILITIES AND STOCKHOLDERS' EQUITY
Non-interest bearing deposits
$

648,006



$

307,262



111

%

Interest bearing deposits


421,907





259,860



62

%

Total deposits


1,069,913





567,122



89

%

Subordinated debenture


32,500





-



0

%

Other liabilities


9,283





6,458



44

%



1,111,696





573,580



94

%

Stockholders' equity


71,850





63,612



13

%

Total liabilities and stockholders' equity
$

1,183,546



$

637,192



86

%


Shares outstanding at end of period


3,558,292





3,568,199



Book value per share
$

19.47



$

17.24



Total loans to total deposits


63.70

%



80.21

%

ALLL to total loans (net of PPP loans)


1.79

%



1.64

%

Nonperforming assets (non-accrual loans & OREO)
$

-



$

53




COMMERCEWEST BANK CAPITAL RATIOS
Tier 1 leverage ratio


7.46

%



9.82

%

Common equity tier 1 capital ratio


14.89

%



11.63

%

Tier 1 risk-based capital ratio


14.89

%



11.63

%

Total risk-based capital ratio


16.15

%



12.88

%

CONSOLIDATED STATEMENT OF INCOME (Unaudited) Three Months Ended Increase
(dollars in thousands except share and per share data) Mar 31, 2021 Mar 31, 2020 (Decrease)

INTEREST INCOME
Loans
$

6,798



$

5,438



25

%

Investment securities


460





479



-4

%

Fed funds sold and other


310





334



-7

%

Total interest income


7,568





6,251



21

%


INTEREST EXPENSE
Deposits


304





765



-60

%

Subordinated debenture


68





0



-



Other borrowings


-





4



-100

%

Total interest expense


372





769



-52

%


NET INTEREST INCOME BEFORE LOAN LOSS PROVISION


7,196





5,482



31

%


PROVISION FOR LOAN LOSSES


-





2,143



-100

%


NET INTEREST INCOME AFTER LOAN LOSS PROVISION


7,196





3,339



116

%


NON-INTEREST INCOME


1,107





1,149



-4

%


NON-INTEREST EXPENSE


3,499





3,289



6

%


EARNINGS BEFORE INCOME TAXES


4,804





1,199



301

%


INCOME TAXES


1,157





76



1422

%



NET INCOME
$

3,647



$

1,123



225

%


Basic earnings per share
$

1.02



$

0.31



229

%

Diluted earnings per share
$

0.99



$

0.30



230

%

Return on Assets


1.26

%



0.76

%

66

%

Return on Equity


20.50

%



6.85

%

199

%

Return on Tangible Equity


21.40

%



7.18

%

198

%

Efficiency Ratio


41.78

%



49.02

%

-15

%

Cost of Funds


0.14

%



0.60

%

-77

%

Net Interest Margin


2.65

%



3.96

%

-33

%




View source version on businesswire.com: https://www.businesswire.com/news/home/20210428005047/en/

CommerceWest Bank Reports 24% Loan Growth, 47% Non-interest Bearing Deposit Growth, and 11% Net Interest Margin Expansion for the Year Ended December 31, 2013 (1/30/14)

IRVINE, Calif.--(BUSINESS WIRE)--CommerceWest Bank (OTCBB: CWBK) reported net income for the twelve months ended December 31, 2013 was $4,538,000 or $1.01 per common share, compared with net income of $4,207,000 or $0.96 per common share for the twelve months ended December 31, 2012, an EPS increase of 5%.

Key Financial Results:

• Net interest income of $11.8 million, up 15% for the year

• Net interest margin of 4.07% up from 3.68%, an increase of 11% for the year

• Net income of $4.5 million, up 8% year-to-date

• Diluted EPS of $1.01, up 5% year-to-date

• Total loan growth of $44.5 million, up 24%

• Non-interest bearing deposit growth of $54.3 million, up 47%

• Nonperforming assets as a percent of total assets of 0.00%

Mr. Ivo Tjan, Chairman and CEO commented on the financial results, "CommerceWest is positioned well to continue to grow quality loans and non-interest bearing deposits in 2014. We are pleased with the Bank's asset quality and reduction in problem assets. To have zero non-performing assets is quite an achievement, especially while growing loans 24% for the year." Mr. Tjan commented further, "There was also continued growth in non-interest bearing deposits during the quarter. A 55% non-interest bearing to total deposit ratio reduces our cost of funds, which allows us to stay competitive in the market place. With the strength of our balance sheet and our talented team, we will continue to assist more small and mid-size businesses in southern California to achieve their goals in 2014."

Total assets increased $17.7 million as of December 31, 2013, an increase of 5% as compared to the same period one year ago. Total loans increased $44.5 million as of December 31, 2013, an increase of 24% over the prior year. Cash and due from banks decreased $19.8 million or 26% from the prior year. Total investment securities decreased $8.4 million or 12% from the prior year.

Total deposits increased $19.4 million as of December 31, 2013, an increase of 7% from December 31, 2012. Non-interest bearing deposits grew $54.3 million as of December 31, 2013, an increase of 47% over the prior year. Non-interest bearing deposits as a percent of total deposits were 55% as of December 31, 2013 as compared to 40% one year ago.

Stockholders’ equity on December 31, 2013 was $53.2 million, an increase of 7% as compared to stockholders’ equity of $49.7 million a year ago.

Interest income was $13,364,000 for the twelve months ended December 31, 2013 as compared to $12,514,000 for the twelve months ended December 31, 2012, an increase of 7%. Interest expense was $1,553,000 for the twelve months ended December 31, 2013 as compared to $2,280,000 for the twelve months ended December 31, 2012, a decrease of 32%.

Net interest income for the twelve months ended December 31, 2013 was $11,811,000 as compared to $10,234,000 for the twelve months ended December 31, 2012, an increase of 15%. The net interest margin increased for the twelve months ended December 31, 2013. It increased from 3.68% in 2012 to 4.07% in 2013, an increase of 11%.

Provision for loan losses for the twelve months ended December 31, 2013 was $280,000 compared to $645,000 for the twelve months ended December 31, 2012, a decrease of 57%. As of December 31, 2013, the Bank and no past due loans, no non-accrual loans and no OREO. The non-performing asset to total asset ratio was zero at year end.

Non-interest expense for the twelve months ended December 31, 2013 was $11,305,000 compared to $10,078,000 for the same period last year, an increase of 12%.

The Bank’s efficiency ratio for the twelve months ended December 31, 2013 was 67.36% compared to 62.42% in 2012, which represents an increase of 8%. The efficiency ratio illustrates, that for every dollar the Bank made for the twelve month period ending December 31, 2013, the Bank spent $0.67 to make it, as compared to $0.62 one year ago.

Capital ratios for the Bank remain well above the levels required for a “well capitalized” institution as designated by regulatory agencies. As of December 31, 2013, the leverage ratio was 13.69%, the tier 1 capital ratio was 18.77%, and the total risk-based capital ratio was 19.98%.

CommerceWest Bank is a California based commercial bank with a unique vision and culture of focusing exclusively on the business community. Founded in 2001 and headquartered at 2111 Business Center Drive in Irvine, CA, with Regional Offices serving Orange County, Los Angeles County, San Diego County and Riverside County. We are a full service business bank and offer a wide range of commercial banking services, including concierge services, remote deposit solution, online banking, lines of credit, working capital loans, commercial real estate lending, SBA lending, and cash and treasury management services.

Mission Statement: CommerceWest Bank will create a complete banking experience for each client, catering to businesses and their specific banking needs, while accommodating our clients and providing them high-quality, low stress and personally tailored banking and financial services.

Please visit www.cwbk.com to learn more about the bank. “BANK ON THE DIFFERENCE”

[Click on link to see remainder of press release]

http://www.businesswire.com/news/home/20140130006694/en/CommerceWest-Bank-Reports-24-Loan-Growth-47#.UuuoPR6YaUk

CommerceWest Bank Reports Second Quarter 2013 Net Income of $1.4 million, up 37% and Year-to-Date Net Income of $2.9 million, up 82% (7/29/13)

IRVINE, Calif.--(BUSINESS WIRE)--CommerceWest Bank (OTCBB: CWBK) reported net income for the three months ended June 30, 2013 of $1,388,000 or $0.31 per common share, compared with net income of $1,015,000 or $0.23 per common share for the three months ended June 30, 2012, an EPS increase of 35%. Net income for the six months ended June 30, 2013 was $2,910,000 or $0.65 per common share, compared with net income of $1,598,000 or $0.36 per common share for the six months ended June 30, 2012, an EPS increase of 81%.

Key Financial Results:

• Net income of $1.4 million, up 37% for the quarter

• Net interest income of $2.8 million, up 13% for the quarter

• Net interest margin of 4.02%, up 8% for the quarter

• Revenue increase of 22% year-to-date

• Net income of $2.9 million, up 82% year-to-date

• Diluted EPS of $0.65, up 81% year-to-date

• Return on average assets of 1.75%, an increase of 67% year-to-date

• Return on average equity of 11.38%, an increase of 65% year-to-date

• Loan growth $24 million, up 15%

• Non-interest bearing deposit growth of $35.9 million, up 37%

• Nonperforming assets as a percent of total assets of 0.11%

Mr. Ivo Tjan, Chairman and CEO commented on the financial results, "We are pleased with the results for the quarter and year to date. The team has been able to reposition the balance sheet over the last several quarters, which resulted in increasing non-interest bearing deposits to 47% of total deposits, while expanding the net interest margin to 4.02% and reducing interest expense by 35%." Mr. Tjan continued, "The next phase of our strategy is to focus for the remainder of 2013 on growing loans, deposits and assets. With our proven business model, strong asset quality and capital, the Bank is well positioned to execute this next part of our plan."

Total assets increased $11.1 million as of June 30, 2013, an increase of 3% as compared to the same period one year ago. Total loans increased $24 million as of June 30, 2013, an increase of 15% over the prior year. Cash and due from banks increased $9.2 million or 14% from the prior year. Total investment securities decreased $22.5 million or 27% from the prior year.

Total deposits increased $3.0 million as of June 30, 2013, an increase of 1% from June 30, 2012. Non-interest bearing deposits grew $35.9 million as of June 30, 2013, an increase of 37% over the prior year. Non-interest bearing deposits as a percent of total deposits were 47% as of June 30, 2013 as compared to 34% one year ago.

Stockholders’ equity on June 30, 2013 was $52.1 million, an increase of 11% as compared to stockholders’ equity of $46.8 million a year ago.

Interest income was $3,191,000 for the quarter ended June 30, 2013 as compared to $3,071,000 for the quarter ended June 30, 2012, an increase of 4%. Interest expense was $383,000 for the quarter ended June 30, 2013 as compared to $593,000 for the quarter ended June 30, 2012, a decrease of 35%. Interest income was $6,394,000 for the six months ended June 30, 2013 as compared to $6,116,000 for the six months ended June 30, 2012, an increase of 5%. Interest expense was $793,000 for the six months ended June 30, 2013 as compared to $1,203,000 for the six months ended June 30, 2012, a decrease of 34%.

Net interest income for the three months ended June 30, 2013 was $2,808,000 as compared to $2,478,000 for the three months ended June 30, 2012, an increase of 13%. The net interest margin increased for the second quarter of 2013, which increased from 3.71% in 2012 to 4.02% in 2013, an increase of 8%. Net interest income for the six months ended June 30, 2013 was $5,601,000 as compared to $4,913,000 for the six months ended June 30, 2012, an increase of 14%. The net interest margin increased for the six months ended June 30, 2013. It increased from 3.74% in 2012 to 4.00% in 2013, an increase of 7%.

Provision for loan losses for the three months ended June 30, 2013 was $50,000 compared to $75,000 for the three months ended June 30, 2012, a decrease of 33%. Provision for loan losses for the six months ended June 30, 2013 was $210,000 compared to $195,000 for the six months ended June 30, 2012, an increase of 8%.

Non-interest income for the three months ended June 30, 2013 was $1,609,000 compared to $945,000 for the same period last year, an increase of 70%. Non-interest income for the six months ended June 30, 2013 was $3,174,000 compared to $1,737,000 for the same period last year, an increase of 83%.

Non-interest expense for the three months ended June 30, 2013 was $2,979,000 compared to $2,333,000 for the same period last year, an increase of 28%. The Bank upgraded its core processor during the quarter. Non-interest expense for the six months ended June 30, 2013 was $5,655,000 compared to $4,857,000 for the same period last year, an increase of 16%.

The Bank’s efficiency ratio for the three months ended June 30, 2013 was 67.11% compared to 59.01% in 2012, which represents an increase of 14%. The Bank’s efficiency ratio for the six months ended June 30, 2013 was 62.95% compared to 63.48% in 2012, which represents a decrease of 1%. The efficiency ratio illustrates, that for every dollar the Bank made for the six month period ending June 30, 2013, the Bank spent $0.63 to make it, as compared to $0.64 one year ago.

Capital ratios for the Bank remain well above the levels required for a “well capitalized” institution as designated by regulatory agencies. As of June 30, 2013, the leverage ratio was 14.32%, the tier 1 capital ratio was 21.17%, and the total risk-based capital ratio was 22.42%.

CommerceWest Bank is a California based commercial bank with a unique vision and culture of focusing exclusively on the business community. Founded in 2001 and headquartered at 2111 Business Center Drive in Irvine, CA, with Regional Offices in Orange County, Los Angeles County and San Diego County. We are a full service business bank and offer a wide range of commercial banking services, including concierge services, remote deposit solution, online banking, lines of credit, working capital loans, commercial real estate lending, SBA lending, and cash and treasury management services.

Mission Statement: CommerceWest Bank will create a complete banking experience for each client, catering to businesses and their specific banking needs, while accommodating our clients and providing them high-quality, low stress and personally tailored banking and financial services.

Please visit https://www.cwbk.com to learn more about the bank. “BANK ON THE DIFFERENCE”

http://www.businesswire.com/news/home/20130729005318/en/CommerceWest-Bank-Reports-Quarter-2013-Net-Income

CommerceWest Bank Reports First Quarter 2013 Net Income of $1.5 million, up 161%, Revenue Increase of 24% From Prior Year (4/23/13)

IRVINE, Calif.--(BUSINESS WIRE)--CommerceWest Bank (OTCBB: CWBK) reported net income for the three months ended March 31, 2013 of $1,522,000 or $0.34 per common share, compared with net income of $583,000 or $0.13 per common share for the three months ended March 31, 2012, an EPS increase of 162%.

Financial performance highlights for First Quarter 2013:

• Revenue increase of 24%

• Record net income of $1.5 million, up 161%

• Record diluted EPS of $0.34, up 162%

• Non-interest income of $1.6 million, up 98%

• Return on average assets of 1.84%, an increase of 136%

• Return on average equity of 12.19%, an increase of 142%

• Loan growth $39.2 million, up 26%

• Non-interest bearing deposit growth of $39.1 million, up 46%

• Book value of $11.91 per share, an increase of 12%

• Interest expense reduction of 33%

• Nonperforming assets as a percent of total assets of 0.11%

• No loans 30 days past due

• Total shareholders' equity of $51.4 million, highest level in company history

Mr. Ivo Tjan, Chairman and CEO commented on the financial results, "Our talented team members continue to execute our strategic plan to focus on revenue growth. We plan to expand our team by adding top talent to enhance our organizational structure and performance. Asset quality remains very strong with solid capital levels, including a 13.67% Tier 1 leverage ratio, which positions us well for future growth to bring in new client relationships or provide more products to our existing business clients. CommerceWest Bank's unique business model creates franchise value by increasing our non-interest bearing deposits and loans; while at the same time balancing it with earnings growth. As a result, there were increases in our net income of 161%, non-interest income of 98%, ROA of 136% and ROE of 142%.”

Total assets increased $25.8 million as of March 31, 2013, an increase of 8% as compared to the same period one year ago. Total loans increased $39.2 million as of March 31, 2013, an increase of 26% over the prior year. Cash and due from banks increased $10.9 million or 19% from the prior year. Total investment securities decreased $24.0 million or 27% from the prior year.

Total deposits increased $21.5 million as of March 31, 2013, an increase of 8% from March 31, 2012. Non-interest bearing deposits grew $39.1 million as of March 31, 2013, an increase of 46% over the prior year.

Stockholders’ equity on March 31, 2013 was $51.4 million, an increase of 11% as compared to stockholders’ equity of $46.2 million a year ago.

Interest income was $3,203,000 for the quarter ended March 31, 2013 as compared to $3,045,000 for the quarter ended March 31, 2012, an increase of 5%. Interest expense was $410,000 for the quarter ended March 31, 2013 as compared to $610,000 for the quarter ended March 31, 2012, a decrease of 33%.

Net interest income for the three months ended March 31, 2013 was $2,793,000 as compared to $2,435,000 for the three months ended March 31, 2012, an increase of 15%. The net interest margin increased for the first quarter of 2013, which increased from 3.77% in 2012 to 3.99% in 2013, an increase of 6%.

Provision for loan losses for the three months ended March 31, 2013 was $160,000 compared to $120,000 for the three months ended March 31, 2012, an increase of 33%.

Non-interest income for the three months ended March 31, 2013 was $1,565,000 compared to $792,000 for the same period last year, an increase of 98%.

Non-interest expense for the three months ended March 31, 2013 was $2,676,000 compared to $2,524,000 for the same period last year, an increase of 6%.

The Bank’s efficiency ratio for the three months ended March 31, 2013 was 60.14% compared to 71.68% in 2012, which represents a decrease of 16%. The efficiency ratio illustrates, that for every dollar the Bank made for the three month period ending March 31, 2013, the Bank spent $0.60 to make it, as compared to $0.72 one year ago.

Capital ratios for the Bank remain well above the levels required for a “well capitalized” institution as designated by regulatory agencies. As of March 31, 2013, the leverage ratio was 13.67%, the tier 1 capital ratio was 19.93%, and the total risk-based capital ratio was 21.18%.

CommerceWest Bank is a California based commercial bank with a unique vision and culture of focusing exclusively on the business community. The Bank was founded in 2001 and is headquartered at 2111 Business Center Drive in Irvine, CA, with Regional Offices in Orange County, Los Angeles County and San Diego County. We are a full service business bank and offer a wide range of commercial banking services, including concierge services, remote deposit solution, online banking, lines of credit, working capital loans, commercial real estate lending, SBA lending, and cash and treasury management services.

Mission Statement: CommerceWest Bank will create a complete banking experience for each client, catering to businesses and their specific banking needs, while accommodating our clients and providing them high-quality, low stress and personally tailored banking and financial services.

http://www.businesswire.com/news/home/20130423005613/en/CommerceWest-Bank-Reports-Quarter-2013-Net-Income

CommerceWest Bank Recognized as a 2013 "Super Premier" Performing Bank

http://finance.yahoo.com/news/commercewest-bank-recognized-2013-super-005400832.html

CommerceWest Bank (CWBK) was recognized as a 2013 "Super Premier" performing bank by the Findley Report. The Findley companies provides performance reporting and analysis, financial management consulting, legal representation and financial institution ratings. Banks can be recognized for "Commendable," "Premier," or "Super Premier" status based on their financial performance.

"I am very proud of our team and their dedication towards creating a complete banking experience for each of our clients. Their passion for our vision will only continue to help us further differentiate ourselves from other financial institutions," commented Ivo Tjan, Chairman and CEO. He continued, "We are humbled by the recognition and look forward to accomplishing our goals in 2013."

CommerceWest Bank is a California based commercial bank with a unique vision and culture of focusing exclusively on the business community. Founded in 2001 and headquartered at 2111 Business Center Drive in Irvine, CA, with Regional Offices in Orange County, Los Angeles County and San Diego County. We are a full service business bank and offer a wide range of commercial banking services, including concierge services, remote deposit solution, online banking, lines of credit, working capital loans, commercial real estate lending, SBA lending, and cash and treasury management services.

CWBK Reports Record Full Year Net Income of $4.2 Million, Up 199% from 2011 And Quarterly Net Income of $1.2 Million, Up 197% from 2011 (2/04/13)

...back to back grand-slam years for this bank! ...and no signs of slowing down. Truly remarkable performance.

pps as of 2/4/2013 $9.75

CWBK Reports Record Full Year Net Income of $4.2 Million, Up 199% from 2011 And Quarterly Net Income of $1.2 Million, Up 197% from 2011 (2/04/13)

IRVINE, Calif.--(BUSINESS WIRE)--CommerceWest Bank (OTCBB: CWBK) reported record net income for the twelve months ended December 31, 2012 of $4,207,000 or $0.96 per common share, compared with net income of $1,406,000 or $0.32 per common share for the twelve months ended December 31, 2011, an EPS increase of 200%. The bank reported net income for the three months ended December 31, 2012 of $1,192,000 or $0.27 per common share, compared with net income of $402,000 or $0.09 per common share for the three months ended December 31, 2011, an EPS increase of 200%.

Financial performance highlights year-to-date:

• Record net income of $4.2 million, up 199%

• Record non-interest income of $4.7 million, up 136%

• Return on average assets of 1.30%, an increase of 177%

• Return on average equity of 8.84%, an increase of 180%

• Asset growth of $49.8 million, up 17%

• Loan growth $37.3 million, up 25%

• Non-interest bearing deposit growth of $38.3 million, up 50%

• Book value of $11.60 per share, an increase of 12%

• Interest expense reduction of 19%

• Nonperforming assets as a percent of total assets of 0.16%

• No loans 30 days past due

Financial performance highlights for the three months ended December 31, 2012:

• Record net income of $1.2 million, up 197%

• Net interest income growth of 13%

• Net interest margin of 3.84%, an increase of 9%

• Record non-interest income of $1.4 million, up 217%

• Efficiency ratio of 55.63%, a decrease of 34%

• Strong capital position, with a tier 1 leverage ratio of 13.10% and total risk based capital ratio of 21.11%

Mr. Ivo Tjan, Chairman and CEO stated, "2012 was an outstanding year for CommerceWest Bank. We reported record net income, solid loan and non-interest bearing deposit growth and increased our tangible book value by 13%. Our disciplined and unique business model has allowed the team to strategically execute on the business plan to grow our market share, improve and maintain strong asset quality, and improve the Bank’s operating efficiency. The success is a result of our incredibly talented and passionate team members who help create our client experience and provide a banking partnership environment to our clients.”

Mr. Tjan continued, "We are well positioned for 2013 and confident in our future and the team’s ability to grow our franchise value with our unique business model. CommerceWest Bank continues to outperform its peer group and we are optimistic in contributing to the growth in the local economy for 2013."

Total assets increased $49.8 million as of December 31, 2012, an increase of 17% as compared to the same period one year ago. Total loans increased $37.3 million as of December 31, 2012, an increase of 25% over the prior year. Cash and due from banks increased $38.7 million or 101% from the prior year. Total investment securities decreased $23.8 million or 25% from the prior year.

Total deposits increased $39.8 million as of December 31, 2012, an increase of 16% from December 31, 2011. Non-interest bearing deposits grew $38.3 million as of December 31, 2012, an increase of 50% over the prior year.

Stockholders’ equity on December 31, 2012 was $49.7 million, an increase of 9% as compared to stockholders’ equity of $45.6 million a year ago.

Interest income was $3,250,000 for the quarter ended December 31, 2012 as compared to $3,069,000 for the quarter ended December 31, 2011, an increase of 6%. Interest income was $12,514,000 for the twelve months ended December 31, 2012 as compared to $12,680,000 for the twelve months ended December 31, 2011, a decrease of 1%. Interest expense was $493,000 for the quarter ended December 31, 2012 as compared to $636,000 for the quarter ended December 31, 2011, a decrease of 22%. Interest expense was $2,280,000 for the twelve months ended December 31, 2012 as compared to $2,803,000 for the twelve months ended December 31, 2011, a decrease of 19%.

Net interest income for the three months ended December 31, 2012 was $2,757,000 as compared to $2,433,000 for the three months ended December 31, 2011, an increase of 13%. Net interest income was $10,234,000 for the twelve months ended December 31, 2012 as compared to $9,877,000 for the twelve months ended December 31, 2011, an increase of 4%. The net interest margin increased for the fourth quarter of 2012, which increased from 3.52% in 2011 to 3.84% in 2012, an increase of 9%. The net interest margin for the twelve months ended December 31, 2012 was 3.68% as compared to 3.73% for the prior period, a 1.0% decrease.

Provision for loan losses for the three months ended December 31, 2012 was $175,000 compared to $30,000 for the three months ended December 31, 2011. Provision for loan losses for the twelve months ended December 31, 2012 was $645,000 compared to $190,000 for the twelve months ended December 31, 2011, an increase of 239%.

Non-interest income for the three months ended December 31, 2012 was $1,370,000 compared to $432,000 for the same period last year, an increase of 217%. Non-interest income for the twelve months ended December 31, 2012 was $4,696,000 compared to $1,987,000 for the same period last year, an increase of 136%.

Non-interest expense for the three months ended December 31, 2012 was $2,760,000 compared to $2,433,000 for the same period last year, an increase of 13%. Non-interest expense for the twelve months ended December 31, 2012 was $10,078,000 compared to $10,268,000 for the same period last year, a decrease of 2%.

The Bank’s efficiency ratio for the three months ended December 31, 2012 was 55.63% compared to 84.91% in 2011, which represents a decrease of 34%. The Bank’s efficiency ratio for the twelve months ended December 31, 2012 was 62.42% compared to 82.66% in 2011, which represents a decrease of 24%. The efficiency ratio illustrates, that for every dollar the Bank made for the three month period ending December 31, 2012, the Bank spent $0.56 to make it, as compared to $0.85 one year ago.

Capital ratios for the Bank remain well above the levels required for a “well capitalized” institution as designated by regulatory agencies. As of December 31, 2012, the leverage ratio was 13.10%, the tier 1 capital ratio was 19.86%, and the total risk-based capital ratio was 21.11%.

CommerceWest Bank is a California based commercial bank with a unique vision and culture of focusing exclusively on the business community. Founded in 2001 and headquartered at 2111 Business Center Drive in Irvine, CA, with Regional Offices in Orange County, Los Angeles County and San Diego County. We are a full service business bank and offer a wide range of commercial banking services, including concierge services, remote deposit solution, online banking, lines of credit, working capital loans, commercial real estate lending, SBA lending, and cash and treasury management services.

Mission Statement: CommerceWest Bank will create a complete banking experience for each client, catering to businesses and their specific banking needs, while accommodating our clients and providing them high-quality, low stress and personally tailored banking and financial services.

Please visit www.cwbk.com to learn more about the bank. “BANK ON THE DIFFERENCE”

http://www.businesswire.com/news/home/20130204006615/en/CommerceWest-Bank-Reports-Record-Full-Year-Net

Forgot to also mention as capital ratio levels are reached, all extra earnings and cash can be used to buy back shares under book or as dividends to investors again. And when the dividends come, the income investors come to drive up the price even higher as the hunt for yield continues.

Chevy, I think you and EI have created an inadvertently fantastic investment strategy. That being creating a basket of cheap, smaller banks. In a way you (and me if / when I follow you on positions) are playing simple time arbitrage really.
For many of these (I'm thinking BNCC, PCBC, FCAL, and others), if they don't get acquired they are sitting on a pile of catalysts.

If they are acquired, then you get instant takeover premium. If not, then you can wait for the market to re-price them higher accordingly. AND that doesn't count the benefit an eventual normalized yield curve will give them, adding to earnings power.

Oh and if we ever get back to the old multiples, some of these positions will be giving us serious returns.

PS: I opened a small position in WIBC and have been waiting unsuccessfully for BNCC. My biggest banking position will be the Bank of America warrants and LEAPs for some time however.

Chevy, got your PM and it's all good. You should tag along for the next European adventure I have to go on for work by the way. Let off some steam.

Maybe Santa will bring me an IHUB membership this year :)

HOW HEALTHY IS THIS BANK?

CommerceWest Bank, N.A.

Headquartered in Irvine, CA

The Troubled Asset Ratio (as compared to Banks of simular size...shown on a national graph link below)

http://banktracker.investigativereportingworkshop.org/banks/california/irvine/commercewest-bank-na/

*Prime Bank to be acquired.

CommerceWest Bank did not take TARP money back in 2008.

It's old news [2008] now but an important bit of information to know about this bank going forward.

CommerceWest Bank Will Not Apply For Federal TARP Money

Irvine, California - November 26, 2008 – CommerceWest Bank (OTCBB: CWBK), one of the strongest banks in California, announced today that it did not apply for funds available through the Capital Purchase Program, which is part of the federal government's Troubled Assets Relief Program (TARP) to provide banks with fresh capital.

https://www.cwbk.com/corporate-profile/news.aspx

*Many small banks that accepted TARP money back in 2008/9 have not paid it back yet and are still struggling to do so. That struggle will only get worse because the interest rate for TARP money, which has been 5%, is going up to a whopping 9% in 2013 :~O

So what are banks that borrowed TARP money going to do to pay it back? Many are using Uncle Sam to pay back Uncle Sam (convenient eh...America! What a country!)...by borrowing money from another Federal Program called the Small Business Lending fund (SBLF). The high interest rate problem goes away but the debt still remains on a banks books which will have an adverse effect on how well a bank performs going forward.

CommerceWest Bank doesn't have that problem.

CWBK pps on 11/7/2012 is $9 even.

Financial performance highlights year-to-date:

Asset growth of 11%
Loan growth of 32%
Non-interest bearing deposit growth of 55%
Total deposit growth of 13%
Nonperforming assets as a percent of total assets of 0.25% Earnings growth of 200%
Interest expense reduction of 18%
Non-interest income growth of 114%
Non-interest expense reduction of 7%

The finish line is 18 months from today (4/7/2014)!.

By staying disciplined to our business model, the team has grown non-interest income 114% year over year; while at the same time reducing expenses by 7%. These are tremendous results. Last week EI declared WIBC a buy (first time he's ever said anything like that lol)...now this week I'm saying CWBK is a buy ;) ...the race is on!! Its like Daytona only it won't be NASCAR racing it will be Banks in racing stripes! lol. We can have some fun with this... and make money doing it!

* Both banks are Calif banks fo a reason.

CommerceWest Bank Reports Double Digit Loan and Deposit Growth, Strong Earnings Growth of 200% Year to Date

Date : 10/17/2012 @ 10:07PM
Source : Business Wire
Stock : Commercewest BK (CA) (CWBK)
Quote : $9.0 0.0 (0.00%) @ 5:00PM

CommerceWest Bank (OTCBB:CWBK) reported earnings for the three months ended September 30, 2012 of $1,417,000 or $0.33 per basic common share and $0.32 per diluted common share, compared with net income of $279,000 or $0.07 per basic common share and $0.07 per diluted common share for the three months ended September 30, 2011, an increase of 371% and 357% respectively. The bank reported earnings for the nine months ended September 30, 2012 of $3,015,000 or $0.70 per basic common share and $0.69 per diluted common share, compared with net income of $1,004,000 or $0.23 per basic common share and $0.23 per diluted common share for the nine months ended September 30, 2011, an increase of 204% and 200% respectively.

Financial performance highlights for the three months ended September 30, 2012:
Earnings growth of 408%
Return on average assets of 1.63%, an increase of 353%
Net interest income growth of 7%
Interest expense reduction of 18%
Non-interest income growth of 377%
Strong capital base, with a tier 1 leverage ratio of 12.69% and total risk based capital ratio of 20.77%
Efficiency ratio of 56.01%, a decrease of 35%

Financial performance highlights year-to-date:
Asset growth of 11%
Loan growth of 32%
Non-interest bearing deposit growth of 55%
Total deposit growth of 13%
Nonperforming assets as a percent of total assets of 0.25% Earnings growth of 200%
Interest expense reduction of 18%
Non-interest income growth of 114%
Non-interest expense reduction of 7%

Mr. Ivo Tjan, Chairman and CEO, stated, "The team continues to demonstrate the strength of our business model, core competency and ability to grow with profitability. This focused approach has generated double digit growth in total assets of 11%, loans of 32%, and a 55% increase in non-interest bearing deposits. By staying disciplined to our business model, the team has grown non-interest income 114% year over year; while at the same time reducing expenses by 7%. Our results for the third quarter were highlighted by strong earnings growth of 408% as compared to the same three month period one year ago, while maintaining strong credit quality and prudent reserves as a model of our fortress balance sheet approach."

Mr. Tjan continued, "As we stated earlier in the year, we are confident in our future and our ability to grow the franchise value by managing growth with profitability, which focuses on top line revenue, fee income generation, quality loan growth, expanding the mixture in non-interest bearing deposits and increasing core earnings."

Total assets increased $33.8 million as of September 30, 2012, an increase of 11% as compared to the same period one year ago. Total loans increased $44.3 million as of September 30, 2012, an increase of 32% over the prior year. Cash and due from banks increased $11.9 million or 21% from the prior year. Total investment securities decreased $18.3 million or 19% from the prior year.

Total deposits increased $34 million as of September 30, 2012, an increase of 13% from September 30, 2011. Non-interest bearing deposits grew $37.5 million as of September 30, 2012, an increase of 55% over the prior year.

Stockholders’ equity on September 30, 2012 was $48.7 million, an increase of 8% as compared to stockholders’ equity of $44.9 million a year ago.

Provision for loan losses for the three months ended September 30, 2012 was $275,000 compared to zero for the three months ended September 30, 2011. Provision for loan losses for the nine months ended September 30, 2012 was $470,000 compared to $160,000 for the nine months ended September 30, 2011, an increase of 194%.
Non-interest income for the three months ended September 30, 2012 was $1,589,000 compared to $333,000 for the same period last year, an increase of 377%.

Non-interest income for the nine months ended September 30, 2012 was $3,326,000 compared to $1,555,000 for the same period last year, an increase of 114%.

Non-interest expense for the three months ended September 30, 2012 was $2,461,000 compared to $2,451,000 for the same period last year, an increase of less than one percent. Non-interest expense for the nine months ended September 30, 2012 was $7,318,000 compared to $7,835,000 for the same period last year, a decrease of 7%.

*The Bank’s efficiency ratio for the three months ended September 30, 2012 was 56.01% compared to 86.72% in 2011, which represents a decrease of 35%. The Bank’s efficiency ratio for the nine months ended September 30, 2012 was 61.0% compared to 83.13% in 2011, which represents a decrease of 27%. The efficiency ratio illustrates, that for every dollar the Bank made for the three month period ending September 30, 2012, the Bank spent $0.56 to make it, as compared to $0.87 one year ago.

Capital ratios for the Bank remain well above the levels required for a “well capitalized” institution as designated by regulatory agencies. As of September 30, 2012, the leverage ratio was 12.69%, the tier 1 capital ratio was 19.51%, and the total risk-based capital ratio was 20.77%.

CommerceWest Bank is headquartered at 2111 Business Center Drive in Irvine, CA, with Regional Offices in Orange County, Los Angeles County and San Diego County. We are a full service business bank and offer a wide range of commercial banking services, including concierge services, remote deposit solution, full-service internet banking, lines of credit, term loans, commercial real estate lending, SBA lending, and full cash management.

http://ih.advfn.com/p.php?pid=nmona&article=54585110

It's worth noting again that this banks' effeciancy ratio is dropping. Its a blue ribbon pup bank!

*The bank efficiency ratio is a quick and easy measure of a bank's ability to turn resources into revenue. The lower the ratio, the better (50% is generally regarded as the maximum optimal ratio). An increase in the efficiency ratio indicates either increasing costs or decreasing revenues.

http://www.investinganswers.com/financial-dictionary/ratio-analysis/bank-efficiency-ratio-2556

Efficiency ratio continues to trend downward.

The Bank’s efficiency ratio for the three months ended June 30, 2012 was 59.01% compared to 83.78% in 2011, which represents a decrease of 30%. The efficiency ratio illustrates, that for every dollar the Bank made for the three month period ending June 30, 2012, the Bank spent $0.59 to make it, as compared to $0.84 one year ago.

[So many banks. So little time.]

Comparison Data - Impressive trends!

Financial performance highlights for the three months ended June 30, 2012 as compared to the three months ended June 30, 2011:

• Earnings growth of 195%
• Return on average assets of 1.30%, an increase of 189%
• Non-interest income growth of 79%
• Non-interest expense reduction of 10%
• Cost of funds reduced 22%
• Loan growth of 19%
• Nonperforming assets reduced 75%, from 1.40% to 0.34% of total assets
• Non-interest bearing deposit growth of 30%
• A fortress balance sheet, with a tier 1 leverage ratio of 13.38% and total risk based capital ratio of 22.07%
• No TARP

Financial performance highlights for the three months ended June 30, 2012 as compared to the three months ended March 31, 2012:

• Earnings growth of 74%
• Non-interest income growth of 19%
• Non-interest expense reduction of 8%
• Nonperforming assets reduced 57%, from 0.83% to 0.34% of total assets
• Asset growth of 5%
• Loan growth of 8%
• Non-interest bearing deposit growth of 12%
• Total deposit growth of 7%

========================

Financial performance highlights for the three months ended March 31, 2012 as compared to the three months ended March 31, 2011:

• Earnings growth of 53%
• Nonperforming assets reduced 50%
• Non-interest bearing deposit growth of 38%
• Non-interest income growth of 14%
• Non-interest expense reduction of 10%
• Cost of funds reduced 13%
• Loan growth of 2.0%
• A fortress balance sheet, with a tier 1 leverage ratio of 13.64% and total risk based capital ratio of 22.60%
• No TARP

Financial performance highlights for the three months ended March 31, 2012 as compared to the three months ended December 31, 2011:

• Earnings growth of 45%
• Nonperforming assets reduced 36%
• Non-interest bearing deposit growth of 12%
• Non-interest income growth of 83%
• Asset growth of 5.0%
• Total deposit growth of 5.0%

http://ih.advfn.com/p.php?pid=nmona&article=53498809

*Good candidate to be acquired.

Restated data-

Financial performance highlights for the three months ended March 31, 2012 as compared to the three months ended March 31, 2011:

• Earnings growth of 53%
• Nonperforming assets reduced 50%
• Non-interest bearing deposit growth of 38%
• Non-interest income growth of 14%
• Non-interest expense reduction of 10%
• Cost of funds reduced 13%
• Loan growth of 2.0%
• A fortress balance sheet, with a tier 1 leverage ratio of 13.64% and total risk based capital ratio of 22.60%
• No TARP

Financial performance highlights for the three months ended March 31, 2012 as compared to the three months ended December 31, 2011:
• Earnings growth of 45%

• Nonperforming assets reduced 36%
• Non-interest bearing deposit growth of 12%
• Non-interest income growth of 83%
• Asset growth of 5.0%
• Total deposit growth of 5.0%


http://www.businesswire.com/news/home/20120426007104/en/CommerceWest-Bank-Reports-Earnings-Growth-53-Quarter

Very Impressive!

Since December 2011..a double! Another Blue ribbon pup of a bank! How long will this stay off the radar of a bigger bank!

CommerceWest Bank Reports Earnings Growth of 53% for First Quarter 2012, 44% Increase in Earnings Per Share, and a 38% Increase in Non-Interest Bearing Deposits (4/26/12)

IRVINE, Calif.--(BUSINESS WIRE)--CommerceWest Bank (OTCBB: CWBK) reported earnings for the three months ended March 31, 2012 of $583,000 or $0.13 per basic common share and $0.13 per diluted common share, compared with net income of $382,000 or $0.09 per basic common share and $0.09 per diluted common share for the three months ended March 31, 2011, an increase of 44%.

Financial performance highlights for the three months ended March 31, 2012 as compared to the three months ended March 31, 2011:

•Earnings growth of 53%

•Nonperforming assets reduced 50%

•Non-interest bearing deposit growth of 38%

•Non-interest income growth of 14%

•Non-interest expense reduction of 10%

•Cost of funds reduced 13%

•Loan growth of 2.0%

•A fortress balance sheet, with a tier 1 leverage ratio of 13.64% and total risk based capital ratio of 22.60%

•No TARP

Financial performance highlights for the three months ended March 31, 2012 as compared to the three months ended December 31, 2011:

•Earnings growth of 45%

•Nonperforming assets reduced 36%

•Non-interest bearing deposit growth of 12%

•Non-interest income growth of 83%

•Asset growth of 5.0%

•Total deposit growth of 5.0%

Mr. Ivo Tjan, Chairman and CEO commented, “We are encouraged by the teams ability to grow non-interest bearing deposits in the first quarter and deploy liquidity, with two consecutive quarters of loan growth. The team executed on materially improving asset quality by reducing our non-performing loans in the quarter. The Bank has continued its focus on strategically growing quality loans, deposits, fee income and earnings for 2012. Our vision, culture and business model is clear to us."

Mr. Tjan stated, "Management continues to be optimistic about 2012 and our ability to execute this year on "business as usual." We have continued to make excellent progress in strengthening the asset quality of the loan portfolio, as well as maintaining strong liquidity and capital. With our strong capital position, it is time now for us to deploy more of the Bank's liquidity and improve profitability by growing our top line revenue, while at the same time controlling our operating expense."

Total assets increased $10.8 million as of March 31, 2012, an increase of 4% as compared to the same period one year ago. Total loans increased $3.1 million as of March 31, 2012, an increase of 2% over the prior year. Cash and due from banks decreased $9.1 million or 14% from the prior year. Total investment securities increased $18.8 million or 27% from the prior year.

Total deposits increased $6.6 million as of March 31, 2012, an increase of 3% from March 31, 2011. Non-interest bearing deposits grew $23.6 million as of March 31, 2012, and increase of 38% over the prior year.

Stockholders’ equity on March 31, 2012 was $46.2 million, an increase of 5% as compared to stockholders’ equity of $44.0 million a year ago.

Total nonperforming assets decreased $2.6 million as of March 31, 2012, a decrease of 50% as compared to the same period one year ago. Provision for loan losses for the three months ended March 31, 2012 was $120,000 compared to $100,000 for the three months ended March 31, 2011, an increase of 20%. The Bank’s allowance for loan losses as a percent of total loans was 2.38% for the CommerceWest Bank portfolio on March 31, 2012 as compared to 4.12% on March 31, 2011, a decrease of 42%.

Non-interest income for the three months ended March 31, 2012 was $892,000 compared to $694,000 for the same period last year, an increase of 29%.

Non-interest expense for the three months ended March 31, 2012 was $2,524,000 compared to $2,804,000 for the same period last year, a decrease of 10%.

The Bank’s efficiency ratio for the three months ended March 31, 2012 was 71.68% compared to 83.16% in 2011, which represents a decrease of 14%. The efficiency ratio illustrates, that for every dollar the Bank made for the three month period ending March 31, 2012, the Bank spent $0.72 to make it, as compared to $0.83 one year ago.

Capital ratios for the Bank remain well above the levels required for a “well capitalized” institution as designated by regulatory agencies. As of March 31, 2012, the leverage ratio was 13.64%, the tier 1 capital ratio was 21.34%, and the total risk-based capital ratio was 22.60%.

CommerceWest Bank is headquartered at 2111 Business Center Drive in Irvine, CA, with Regional Offices in Orange County, Riverside County, Los Angeles County and San Diego County. We are a full service business bank and offer a wide range of commercial banking services, including concierge services, remote deposit solution, full-service internet banking, lines of credit, term loans, commercial real estate lending, SBA lending, and full cash management.

Mission Statement: CommerceWest Bank will create a complete banking experience for each client, catering to businesses and their specific banking needs, while accommodating our clients and providing them high-quality, low stress and personally tailored banking and financial services.

Please visit www.cwbk.com to learn more about the bank. “BANK ON THE DIFFERENCE”

http://www.businesswire.com/news/home/20120426007104/en/CommerceWest-Bank-Reports-Earnings-Growth-53-Quarter

CommerceWest Bank Announces Stock Repurchase Program

CommerceWest Bank (OTCBB:CWBK) today announced that on January 31, 2012 its Board of Directors has authorized the repurchase of up to $350,000.00 of the Bank's outstanding shares (approximately 60,869 shares as of January 31, 2012) pursuant to its stock repurchase program. The repurchase of stock by the Bank may be effected through open market or private transactions, subject to the Bank's assessment of market conditions and buying opportunities from time to time.

Mr. Ivo Tjan, Chairman and CEO commented, "The repurchase of stock supports the confidence that management has in our company today and in the future. We believe that the shares are undervalued and repurchasing them is an excellent vehicle for improving shareholder value

The Bank's regulatory capital levels continue to exceed the levels necessary to be considered "Well Capitalized." As of December 31, 2011, the leverage ratio was 13.75%, the tier 1 capital ratio was 21.25%, and the total risk-based capital ratio was 22.51%.

http://ih.advfn.com/p.php?pid=nmona&article=51118843

PPS is currently $8


* I do not own any shares of CWBK and do not plan to as of 4/8/2012.

CommerceWest Bank Reports 3Q 2011 Earnings, 31% Increase in Non-Interest Income, and a 90% Decrease in Nonperforming Assets

Good healthy trend.

http://ih.advfn.com/p.php?pid=nmona&article=49768790

Moebs Services Inc., a research firm in Lake Bluff, Ill., estimates it costs the giant banks about $350 to $450 a year to maintain a checking account. In contrast, smaller banks incur costs of $175 to $250 a year per checking account.

CommerceWest Bank Reports 44% Increase in Earnings, 41% Increase in Non-Interest Income, & a 80% Decrease in Nonperforming Loans