First Commerce Bank’s Net Income Takes Jump
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First Commerce Bank of Encino reported net income for the fourth quarter ended Dec. 31 of $332,000, an increase of 282% over $87,000 for the same period the previous year.
For the year ended Dec. 31, the bank reported net income of $1.14 million, contrasted with a loss of $427,000 for 1999. Assets rose 51% to $77 million from $51 million.
First Commerce Bank is an independent community business bank with offices in Encino and Brentwood.
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