CommerceWest Bank Reports Fourth-Quarter 2016 39% Increase in EPS and 37% Increase in Net Income

Irvine, California – January 24, 2017 – CommerceWest Bank reported net income for the three months ended December 31, 2016 of $1,319,000 or $0.32 per common share, compared with net income of $962,000 or $0.23 per common share for the three months ended December 31, 2015, an EPS increase of 39%.  Net income for the twelve months ended December 31, 2016 was $4,830,000 or $1.16 per common share, compared with net income of $4,111,000 or $0.98 per common share for the twelve months ended December 31, 2015, an EPS increase of 18%.     

CommerceWest Bank Reports Third Quarter 2016 Results, Including Loan Growth of 15%, EPS growth of 7% for the Quarter and 11% for the Year

Irvine, California – October 24, 2016 – CommerceWest Bankreported net income for the three months ended September 30, 2016 of $1,202,000 or $0.29 per common share, compared with net income of $1,137,000 or $0.27 per common share for the three months ended September 30, 2015, an EPS increase of 7%. Net income for the nine months ended September 30, 2016 was $3,511,000 or $0.83 per common share, compared with net income of $3,149,000 or $0.75 per common share for the nine months ended September 30, 2015, an EPS increase of 11%.   

CommerceWest Bank Helped Kids Believe in Success, Solutions and Sobriety

Irvine, California – October 16, 2016 - CommerceWest Bank helped kids believe in success, solutions and sobriety by supporting BIS KIDS 5th Annual Golf Tournament. The event raised funds that will support the BIS KIDS proactive prevention program against drugs and alcohol use. The program teaches children to “Believe in Success; Believe in Solutions; Believe in Sobriety.”

CommerceWest Bank Reports Net Income Growth of 24% for Second Quarter 2016

Irvine, California – July 25, 2016 – CommerceWest Bank reported net income for the three months ended June 30, 2016 of $1,256,000 or $0.30 per common share, compared with net income of $1,011,000 or $0.24 per common share for the three months ended June 30, 2015, an EPS increase of 25%. Net income for the six months ended June 30, 2016 was $2,309,000 or $0.55 per common share, compared with net income of $2,012,000 or $0.48 per common share for the six months ended June 30, 2015, an EPS increase of 15%.    

CommerceWest Bank Made An Inaugural Equity Investment to Clearinghouse CDFI in the Amount of $250,000 to Benefit Distressed Communities in Southern California

Irvine, California – June 09, 2016 - CommerceWest Bank made an inaugural equity investment to Clearinghouse Community Development Financial Institution (Clearinghouse CDFI) in the amount of $250,000.  The investment will benefit distressed communities throughout Southern California.  The investment will increase Clearinghouse CDFI’s ability to continue to address unmet credit needs in the community’s distressed areas. CommerceWest Bank is a full-service commercial bank focused on meeting the needs of the business community. Both Clearinghouse CDFI and CommerceWest Bank have served the Southern California area for over 15 years. “CommerceWest Bank shares our commitment to improving Southern California’s distressed communities,” said Clearinghouse CDFI President and CEO Douglas Bystry. “As a local bank, their investment is particularly significant. We are glad to partner with them.”