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1997 Notable Achievements:
- SBA guaranteed loan portfolio increased 49% to $197 million
- SBA loans held in the Bank's portfolio contributed to a
42% increase in net interest income to $24.2 million
- SBA loan sales increased non-interest
income 79% to $9.7 million
- Sold $24.8 million in unguaranteed SBA loans
- Bank of Commerce raised $10 million
in additional capital internally
through profits
- Bank of Commerce, an SBA
"Preferred Lender" (PLP), retained
its position as America's #1 SBA
bank lender
- New Loan Production Offices (LPOs)
were opened in Denver, Colorado
and Seattle, Washington (operating as Commerce Loan
Company, a division of Bank of Commerce)
1998 Notable Events:
- A major cross-country expansion is planned
for 1998, with new LPOs slated to open in the
nation's top SBA markets: Houston, Dallas and
San Antonio, Texas; Chicago, Illinois; Atlanta, Georgia;
Salt Lake City, Utah; and Boise, Idaho.
1997 Notable Achievements:
- Net Income increased 101% to $7.0 million
- Return on Equity (ROE) increased 64% to 22.4%
- Return on Assets (ROA) increased 40% to 1.51%
- Efficiency ratio improved 10% to 64.4%
- A new full-service branch office and Homeowner Association
(HOA) loan office was opened in Palm Desert, California
- Joined the Federal Reserve in 1997
- BCOM Chairman, President & CEO Peter Q. Davis was named "Financial
Services Advocate of the Year" for third time
1998 Notable Events:
- Bank of Commerce enters acquisition
agreement with $123 million Rancho Vista
National Bank on February 9, 1998
- The acquisition of RVNB will increase the
number of full-service branch offices to ten
and will expand Bank of Commerce's branch
network into three top Southern California
counties: San Diego, Riverside and Orange
1997 Notable Achievements:
- Highest appreciation of all bank and financial company
stocks on the New York Stock Exchange, American Stock
Exchange and NASDAQ National Market System
- Highest appreciation of all San Diego-area company stocks
- Ranked 10th in appreciation of price in 1997
of all stocks on NASDAQ
- Paid its 43rd consecutive quarterly cash
dividend on 2/3/98, to shareholders of
record on 12/31/97
- Had two stock splits in 1997:
5 for 2 split on 5/6/97;
and 2 for 1 split on 12/10/97
- VERIBANC, Inc., an independent bank analyst
firm, awarded Bank of Commerce
its highest honor: Green Three Stars
- The Findley Reports, an independent bank
analyst firm, honored Bank of Commerce
as a "Super Premier Performing Bank,"
their highest honor.
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