Chino Commercial Bancorp Reports Record Earnings

Chino Commercial Bancorp (OTC: CCBC), the parent company of Chino Commercial Bank, N.A., has announced record earnings for the fourth quarter of 2024, marking a significant achievement for the regional bank. The company's net earnings for the quarter reached $1.40 million, representing a 13.8% increase compared to the same quarter last year. Net earnings per basic and diluted share were $0.43 for the fourth quarter of 2024 and $0.38 for the same quarter in 2023, respectively.

The strong financial performance can be attributed to several key factors:

1. Growth in Total Assets and Deposits: Chino Commercial Bancorp's total assets increased by 4.54% to $466.7 million, and total deposits grew by 9.08% to $348.8 million. This growth indicates a stronger financial position and increased customer trust in the bank.
2. Expansion of Merchant Services: The bank's merchant services processing revenue reached $134.0 thousand, representing an increase of $77.1 thousand during the fourth quarter compared to the same period last year. This service provides an additional non-interest source of revenue and has become an increasingly important part of the bank's business model.
3. Strong Credit Quality: The bank had no delinquent loans at year-end, indicating a strong credit quality and a low risk of loan defaults, which helps maintain the bank's earnings.
4. Efficient Cost Management: Despite the increase in revenue, the bank was able to manage its expenses effectively. General and administrative expenses increased by only $400 thousand, or 18.2%, compared to the same period last year, indicating that the bank is maintaining a healthy balance between revenue growth and cost management.

Chino Commercial Bancorp's strategic expansion has also contributed to its financial performance. The bank purchased a building in Corona and plans to open its fifth branch office in the first quarter of 2025. This expansion has been productive, with the new branch having over $9 million in deposits at year-end. Additionally, the bank's entry into the merchant services sector has provided an additional non-interest source of revenue and has helped the bank provide significant savings and transparency to its customers.

In conclusion, Chino Commercial Bancorp's record earnings can be attributed to its strong financial position, efficient cost management, and strategic expansion. The company's growth in total assets, deposits, and loans, as well as its expansion into merchant services, have all contributed to its overall revenue and net profit. With no delinquent loans at year-end, the bank has maintained strong credit quality, further enhancing its financial performance.