Business News • MarketWire • People's Bank Reports Significant Increase in Earnings |
People's Bank Reports Significant Increase in Earnings |
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People's Bank Reports Significant Increase in Earnings
MEDFORD, OR--(Marketwire - Jul 20, 2011) - People's Bank of Commerce (OTCBB: PBCO) today reported earnings of $160,000 for the first six months of 2011 showing strong improvement over the $91,000 for the same period last year. The Bank reported earnings of $0.14 per share for the first six months of 2011, compared to $0.10 per share for the prior year. While interest income was relatively flat year-to-date, the Bank's significant improvement in earnings was due to a 48% decrease in interest expense and a 57% reduction in the loan loss provision, compared to the prior year. "This represents our eighth consecutive quarter of profitability," said Ken Trautman, President and CEO of People's Bank.
View More : http://www.marketwire.com/mw/release.do?id=1540079&sourceType=3
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