Chino Commercial Bancorp Reports 25% Increase in Net Earnings

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CHINO, Calif., July 18, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of Chino Commercial Bancorp (OTC: CCBC), the parent company of Chino Commercial Bank, N.A., announced the results of operations for the Bank and the consolidated holding company for the second quarter ended June 30, 2025.

Net earnings for the second quarter of 2025 were $1.54 million, reflecting an increase of $308.5 thousand, or 25.04%, compared to the same period last year. Basic and diluted earnings per share were $0.48 for the second quarter of 2025, up from $0.38 for the same quarter in 2024. Net earnings year-to-date increased by 16.85% or by $417.1 thousand, to $2.89 million, as compared to $2.48 million for the same period last year. Net earnings per share was $0.90 for the period ending June 30, 2025, and $0.77 for the same period last year.

Dann H. Bowman, President and Chief Executive Officer, stated, "We are very pleased with the Bank’s performance in the second quarter of 2025, which set new records for total Assets, total Deposits, net earnings, and total Capital. Loan quality also remains very strong, with the Bank having no delinquent loans at quarter-end.

We are also proud to announce the opening of the Bank’s fifth location in Corona during the second quarter. Early business development efforts have been very productive, with the branch already having $20 million in new deposits.

The Bank’s Merchant Services program continues to deliver reliable credit card processing services for its customers, with significant savings and improved cash-flow options.”

Financial Condition

As of June 30, 2025, total assets reached $481.9 million, representing an increase of $15.3 million, or 3.3%, from $466.7 million on December 31, 2024. Total deposits rose by $22.7 million, or 6.5%, to $371.6 million, up from $348.9 million on December 31, 2024. Core deposits accounted for 97.01% of total deposits as of June 30, 2025.

Gross loans increased by $1.02 million, or 0.5%, totaling $206.3 million as of June 30, 2025, compared to $205.2 million as of December 31, 2024. The Bank reported no delinquent loans, and three non-performing loans on non-accrual status, as of June 30, 2025. As of December 31, 2024, the Bank reported no delinquent loans and five non-performing loans on all on nonaccrual status. There were no Other Real Estate Owned (OREO) properties reported at either date.

Earnings

The Company reported net interest income of $3.7 million for the three months ended June 30, 2025, compared to $3.2 million for the same period in 2024. Average interest-earning assets were $414.6 million, while average interest-bearing liabilities totaled $221.9 million, resulting in a net interest margin of 3.69% for the second quarter of 2025. This compares favorably to the prior year’s second-quarter margin of 2.95%, based on average interest-earning assets of $432.2 million and average interest-bearing liabilities of $240.2 million.

Non-interest income totaled $1.0 million in the second quarter of 2025, an increase of 23.0% compared to $822.0 thousand in the second quarter of 2024. Most of the increase was driven by higher service charges and fees on deposit accounts, which rose to $527.2 thousand-an increase of $66.5 thousand, or 14.5%, compared to $460.6 thousand in the same period last year. Merchant services processing revenue also contributed to the growth, totaling $178.8 thousand for the quarter, up $30.0 thousand, or 20.2%, from $148.8 thousand in the second quarter of 2024.

General and administrative expenses totaled $2.7 million for the three months ended June 30, 2025, compared to $2.3 million for the same period in 2024. The largest component of these expenses was salary and benefits, which amounted to $1.6 million in the second quarter of 2025, up from $1.4 million in the prior year.

Income tax expense for the quarter was $614.9 thousand, reflecting an increase of $129.4 thousand, or 26.7%, compared to $485.5 thousand for the same period last year. The Company’s effective income tax rate was approximately 28.5% for the period ending June 30, 2025, and 28.3 for the same period last year.

Forward-Looking Statements

The statements contained in this press release that are not historical facts are forward-looking statements based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company. Readers are cautioned not to unduly rely on forward-looking statements. Actual results may differ from those projected. These forward-looking statements involve risks and uncertainties, including but not limited to, the health of the national and California economies, the Company’s ability to attract and retain skilled employees, customers’ service expectations, the Company’s ability to successfully deploy new technology and gain efficiencies therefrom, and changes in interest rates, loan portfolio performance, and other factors.

Contact: Dann H. Bowman, President and CEO or Melinda M. Milincu, Senior Vice President and CFO, Chino Commercial Bancorp and Chino Commercial Bank, N.A., 14245 Pipeline Avenue, Chino, CA. 91710, (909) 393-8880.

   Consolidated Statements of Financial Condition  As of 6/30/2025   Jun-2025

Ending Balance  Dec-2024

Ending Balance Assets  Cash and due from banks$56,447,198  $45,256,619 Cash and cash equivalents$56,447,198  $45,256,619    Fed Funds Sold$9,060  $31,029    Investment securities available for sale, net of zero  allowance for credit losses$6,082,331  $6,558,341 Investment securities held to maturity , net of zero  allowance for credit losses$192,972,194  $190,701,756 Total Investments$199,054,525  $197,260,097    Gross loans held for investments$206,254,179  $205,235,497 Allowance for Loan Losses($4,637,060) ($4,623,740)Net Loans$201,617,119  $200,611,757 Stock investments, restricted, at cost$3,662,000  $3,576,000 Fixed assets, net$8,069,987  $7,255,785 Accrued Interest Receivable$1,532,213  $1,539,505 Bank Owned Life Insurance$8,600,690  $8,482,043 Other Assets$3,492,678  $3,170,159    Total Assets$481,978,760  $466,678,432    Liabilities  Deposits  Noninterest-bearing$172,049,944  $166,668,725 Interest-bearing$199,527,255  $182,200,703 Total Deposits$371,577,199  $348,869,428    Federal Home Loan Bank advances$10,000,000  $0 Federal Reserve Bank borrowings$40,000,000  $60,000,000 Subordinated debt$10,000,000  $10,000,000 Subordinated notes payable to subsidiary trust$3,093,000  $3,093,000 Accrued interest payable$220,193  $132,812 Other Liabilities$1,730,432  $1,877,996 Total Liabilities$436,620,824  $423,973,236    Shareholder Equity  Common Stock **$10,502,558  $10,502,558 Retained Earnings$36,952,444  $34,059,943 Unrealized Gain (Loss) AFS Securities($2,097,066) ($1,857,305)Total Shareholders' Equity$45,357,936  $42,705,196    Total Liab & Shareholders' Equity$481,978,760  $466,678,432    ** Common stock, no par value, 10,000,000 shares authorized and 3,211,970 shares issued and outstanding at 6/30/2025 and 12/31/2024   

     Consolidated Statements of Net IncomeAs of 6/30/2025 Jun-2025

QTD Balance  Jun-2024

QTD Balance  Jun-2025

YTD Balance  Jun-2024

YTD Balance Interest Income    Interest & Fees On Loans$3,373,949  $2,801,198  $6,695,566  $5,528,999 Interest on Investment Securities$1,776,975  $1,945,563  $3,479,765  $3,881,668 Other Interest Income$176,702  $489,331  $433,028  $1,520,279 Total Interest Income$5,327,626  $5,236,092  $10,608,359  $10,930,946      Interest Expense    Interest on Deposits$1,255,426  $1,054,734  $2,445,727  $2,087,669 Interest on Borrowings$273,228  $997,524  $743,147  $2,310,217 Total Interest Expense$1,528,654  $2,052,258  $3,188,874  $4,397,886      Net Interest Income$3,798,972  $3,183,834  $7,419,485  $6,533,060      Provision For Loan Losses($2,622) $1,794  $8,082  ($1,139)     Net Interest Income After Provision for Loan Losses$3,801,594  $3,182,040  $7,411,403  $6,534,199      Noninterest Income    Service Charges and Fees on Deposit Accounts$527,202  $460,658  $1,033,560  $900,515 Interchange Fees$110,482  $102,761  $216,951  $195,033 Earnings from Bank-Owned Life Insurance$60,373  $58,579  $118,647  $114,875 Merchant Services Processing$178,751  $148,770  $320,047  $281,538 Other Miscellaneous Income$134,621  $51,250  $177,814  $103,522      Total Noninterest Income$1,011,429  $822,018  $1,867,019  $1,595,483