Business & Finance
Business and Finance
Business and Finance
Mon, April 18, 2011
Sun, April 17, 2011
Fri, April 15, 2011 
VENTURA, Calif.--([ BUSINESS WIRE ])--County Commerce Bank (OTCBB: CNYB) announced today that its Board of Directors declared a 10% stock dividend on the banka™s common stock outstanding.
The dividend is payable April 30, 2011 to shareholders of record April 15, 2011. The dividend will be issued in the form of additional shares of stock. Cash will be issued in lieu of fractional shares.
According to [ Joseph D. Kreutz ] ([ http://www.countycommercebank.com/AboutUs/Administration.aspx#joseph ]), President and CEO, aIn keeping with our corporate objective of enhancing shareholder value, our Board of Directors, based on the strength of the past several quartersa™ results, determined that it was appropriate to reward the shareholders with a stock dividend. We are more than pleased, particularly in these challenging economic times, that the bank finished 2010 with a 20.84% increase in profit while maintaining a healthy balance sheet.a
The banka™s total assets at year end 2010 were $170,383,000, a 6.26% increase from December 31, 2009. Capital increased $1,237,000 from $13,204,000 to $14,441,000, a 9.37% increase in investorsa™ equity for the year ended December 31, 2010. The banka™s net income for 2010 was $1,212,000, a 9.18% return on shareholdersa™ equity.
County Commerce Bank recently was recognized as one of the best performing banks in the nation. U.S. Banker magazine recognized County Commerce Bank as one of the Top 200 Community Banks out of 8,000 banks in the nation based on three year average ROE. Financial Management Consulting Group, a financial industry rating company that publishes bank performance reports, rated the bank in the top 5% of the best performing banks in all of California. D.A. Davidson & Co. named County Commerce Bank 2010a™s top rated bank headquartered on Californiaa™s central coast. In addition, the bank has received the Super Premier Performing Bank and Premier Performing Bank status from The Findley Reports for the last six consecutive years and the Five-Star aSuperiora rating by BauerFinancial Inc., for 24 consecutive quarters.
About County Commerce Bank
County Commerce Bank (OTCBB: CNYB) was founded in 2003 by local professionals and business leaders in Ventura County, California and has offices in Ventura and Oxnard. County Commerce Bank, with assets over $175 million, offers professionals, businesses, and consumers a complete line of financial solutions including business and personal banking and credit services and state of the art technology along with a personalized banking experience. For more information, visit the web site at [ www.CountyCommerceBank.com ]
County Commerce Bank's stock is traded through Market Maker:
Stone & Youngberg, LLC
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
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.
