This Day On The Street
Continue to site
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

Bay Commercial Bank Reports Third Quarter 2013 Results

WALNUT CREEK, Calif., Oct. 18, 2013 (GLOBE NEWSWIRE) -- Bay Commercial Bank (OTCQB:BCML) (the "Bank") today announced its third quarter 2013 operating results.

The Bank reported total assets as of September 30, 2013 of $327.2 million including loans outstanding of $252.7 million compared to September 30, 2012 total assets of $316.5 million and total loans outstanding of $235.5 million. At September 30, 2013, total deposits were $268.3 million compared to total deposits of $263.1 million at September 30, 2012. The Bank's net operating income for the third quarter 2013 was $634,000 or $0.13 per share compared to net income for the same period in 2012 of $742,000, or $0.15 per share.   The decrease in net operating income for the third quarter 2013 compared to the same period in 2013 was comprised primarily of higher operating costs.

For the first nine months of 2013, the Bank reported net income of $1,901,000 compared to net income of $1,531,000 for the same period in 2012. For the most recent nine month period, the net income to shareholders was $0.39 per share, compared to $0.32 per share for the same period of 2012. The increase in operating income for the nine month periods ended September 30, 2013 compared to the same periods in 2012 was primarily the result of lower provisions for loan losses partially offset by higher operating expenses in 2013 as compared to 2012. The lower provision is the result of improving credit quality and the higher operating expenses are related to the cost of certain operational enhancements implemented in 2013.

George J. Guarini, Chief Executive Officer of the Bank, stated, "2013 has been a year of change at the Bank. We relocated our headquarter office and main branch, implemented certain data processing enhancements and enhanced our risk management process. We continue to be optimistic about the economic environment and improving credit quality, and I believe we are prepared to continue expanding our market share."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $92.92 -0.75%
GOOG $701.00 0.76%
FB $117.55 -0.43%
YHOO $36.96 2.70%
TSLA $213.15 -4.20%


Chart of I:DJI
DOW 17,626.85 -24.41 -0.14%
S&P 500 2,051.41 +0.29 0.01%
NASDAQ 4,725.6260 -0.0130 -0.00%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs