This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

CommerceWest Bank Reports Strong Net Income, Liquidity And Capital Ratios For First Quarter 2011

Stocks in this article: CWBK

CommerceWest Bank (OTCBB: CWBK) announced today its financial results for the three months ended March 31, 2011. Net income for the quarter was $382,000 or $0.09 per basic common share and $0.09 per diluted common share, as compared to earnings of $434,000 or $0.10 per basic common share and $0.10 per diluted common share for the three months ended March 31, 2010.

Financial performance highlights for the three months ended March 31, 2011:

  • Net Income of $382,000 for the quarter
  • Non-interest income growth of 24%
  • 16.8% increase in the allowance for loan losses as a percent of CommerceWest Bank loans
  • A fortress balance sheet, with a tier 1 leverage ratio of 12.81% and total risk based capital ratio of 23.23%
  • 69% decrease in nonperforming assets year over year
  • Strong liquidity with a liquidity position to total assets ratio of 42%

Mr. Ivo Tjan, Chairman and CEO said, “The Bank has spent the last eighteen months strengthening its fortress balance sheet, focusing on strengthening liquidity and risk based capital ratios. We’ve increased the Bank’s liquidity position to total assets ratio by 62% year over year and improved the leverage ratio by 13%, from 11.38% on March 31, 2010 to 12.81% on March 31, 2011. And also improved the total risk based capital position of the Bank by 33%, from 17.49% on March 31, 2010 to 23.23% on March 31, 2011.”

Mr. Tjan continued, “Having negotiated through the turbulent economic environment and absorbing the effects of the 2009 bank acquisition, the Bank is now positioned to focus on banking basics, making loans and attracting deposits. The Bank has recruited some very talented bankers to strategically augment the team during the first quarter of 2011. The Team is now focused on our core business model, producing organic growth with a disciplined approach to driving operating efficiency. By deploying our liquidity, we will improve our net interest margin, profitability, efficiency ratio, while at the same time assisting with the economic recovery by lending to small businesses.”

1 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,908.68 +103.88 0.58%
S&P 500 2,071.19 +0.54 0.03%
NASDAQ 4,770.8240 +5.4440 0.11%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs