Pacific Commerce Bancorp fka PCBC

[Renee]

PCBC: shareholders of Pacific Commerce Bancorp (PCBC) will receive 0.47689 shares of First Choice Bancorp (FCBP) stock according to the terms and conditions of the merger agreement.

FINRA deleted symbol:

http://otce.finra.org/DLDeletions

[Renee]

Pacific Commerce Bank, PFCI, changed to Pacific Commerce Bancorp, PCBC:

http://otce.finra.org/DLSymbolNameChanges

[stocktrademan]

$PFCI recent news/filings

bullish

## source: finance.yahoo.com

Thu, 23 Jul 2015 13:56:00 GMT ~ Pacific Commerce Bank Reports Results for Second Quarter

[Business Wire] - Pacific Commerce Bank today announced the results of the bank’s first full quarter of operations since the close of its merger with Vibra Bank on April 7, 2015.

read full: http://finance.yahoo.com/news/pacific-commerce-bank-reports-results-135600590.html
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Tue, 07 Jul 2015 10:00:00 GMT ~ Veteran Banker Joins Pacific Commerce Bank

[Business Wire] - Pacific Commerce Bank reported today that the board has appointed veteran banker, John Nerland, President and Chief Operating Officer effective as of today. Mr. Nerland will fill a vacancy created by Scott Andrews’ departure earlier in the year.

read full: http://finance.yahoo.com/news/veteran-banker-joins-pacific-commerce-100000300.html
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Mon, 08 Jun 2015 10:00:00 GMT ~ Pacific Commerce Bank Reports Change in Management Assignments

[Business Wire] - Pacific Commerce Bank reported today that Don Evans has joined the Bank as Senior Vice President and Manager of its newly formed Church Business Division.

read full: http://finance.yahoo.com/news/pacific-commerce-bank-reports-change-100000070.html
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Tue, 02 Jun 2015 10:00:00 GMT ~ Pacific Commerce Bank Reports Change in Management Assignments

[Business Wire] - Pacific Commerce Bank reported today that Gail Jensen-Bigknife has been promoted to Executive Vice-President and Chief Credit Officer. Ms. Jensen-Bigknife was most recently Chief Credit Officer with Vibra Bank prior to its merger with Pacific Commerce Bank and has served as Chief Credit Administrator since the merger was completed in April.

read full: http://finance.yahoo.com/news/pacific-commerce-bank-reports-change-100000134.html
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Mon, 20 Apr 2015 10:00:00 GMT ~ Pacific Commerce Bank Reports Strong First Quarter Results

[Business Wire] - Pacific Commerce Bank today reported that net income for the first quarter, ended March 31, 2015, totaled $534,000, or $0.12 per diluted share, after nonrecurring merger related expenses of $187,000 and a reversal of the provision for loan losses of $500,000 due to continued improvement in asset quality of the Bank.

read full: http://finance.yahoo.com/news/pacific-commerce-bank-reports-strong-100000073.html
*********************************************************

$PFCI charts

basic chart ## source: stockcharts.com



basic chart ## source: stockscores.com



big daily chart ## source: stockcharts.com



big weekly chart ## source: stockcharts.com



$PFCI company information

## source: otcmarkets.com

Link: http://www.otcmarkets.com/stock/PFCI/company-info
Ticker: $PFCI
OTC Market Place: OTC Pink Current
CIK code: not found
Company name: Pacific Commerce Bank (CA)
Company website: http://www.pacificcommercebank.com
Incorporated In:



$PFCI share structure

## source: otcmarkets.com

Market Value: $15,618,758 a/o Sep 14, 2015
Shares Outstanding: 2,444,250 a/o Dec 15, 2010
Float: Not Available
Authorized Shares: Not Available
Par Value: No Par Value

$PFCI extra dd links

Company name: Pacific Commerce Bank (CA)
Company website: http://www.pacificcommercebank.com

## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=PFCI+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=PFCI+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=PFCI+Industry

## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/PFCI/news - http://finance.yahoo.com/q/h?s=PFCI+Headlines

## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/PFCI/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/PFCI/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=PFCI+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/PFCI
DTCC (dtcc.com): http://search2.dtcc.com/?q=Pacific+Commerce+Bank+%28CA%29&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Pacific+Commerce+Bank+%28CA%29
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Pacific+Commerce+Bank+%28CA%29&x=0&y=0
WHOIS (domaintools.com): http://whois.domaintools.com/http://www.pacificcommercebank.com
Alexa (alexa.com): http://www.alexa.com/siteinfo/http://www.pacificcommercebank.com#
Corporate website internet archive (archive.org): http://web.archive.org/web/*/http://www.pacificcommercebank.com

## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/PFCI
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/sec-filings
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/PFCI/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/PFCI/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=PFCI&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=PFCI
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/PFCI/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=PFCI+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=PFCI+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=PFCI
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=PFCI
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=PFCI+Cash+Flow&annual

## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/PFCI/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=PFCI+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/PFCI.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=PFCI
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/PFCI/insider-transactions

## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/PFCI
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/PFCI
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/PFCI:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=PFCI
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=PFCI



$PFCI DD Notes ~ http://www.ddnotesmaker.com/PFCI

[stocktrademan]

$PFCI recent news/filings

bullish

## source: finance.yahoo.com

Mon, 20 Apr 2015 10:20:39 GMT ~ Pacific Commerce Bank Reports Strong First Quarter Results

[at noodls] - LOS ANGELES--(BUSINESS WIRE)-- Pacific Commerce Bank (OTCQB:PFCI) today reported that net income for the first quarter, ended March 31, 2015, totaled $534,000, or $0.12 per diluted share, after nonrecurring ...

read full: http://www.noodls.com/view/7AA1C58A4D617FFB53779A5C5E1F7B901332D924
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Mon, 20 Apr 2015 10:00:00 GMT ~ Pacific Commerce Bank Reports Strong First Quarter Results

[Business Wire] - Pacific Commerce Bank today reported that net income for the first quarter, ended March 31, 2015, totaled $534,000, or $0.12 per diluted share, after nonrecurring merger related expenses of $187,000 and a reversal of the provision for loan losses of $500,000 due to continued improvement in asset quality of the Bank.

read full: http://finance.yahoo.com/news/pacific-commerce-bank-reports-strong-100000073.html
*********************************************************

Wed, 08 Apr 2015 10:18:38 GMT ~ Pacific Commerce Bank Announces Completion of Merger with Vibra Bank

[at noodls] - LOS ANGELES--(BUSINESS WIRE)-- Pacific Commerce Bank, "PFCI" (OTCQB: PFCI) announced today that it has completed its merger with Vibra Bank. The shareholders of both institutions approved the ...

read full: http://www.noodls.com/view/C61D0071EDEE78339F6EDD6CE427205BB405B77E
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Wed, 08 Apr 2015 10:00:00 GMT ~ Pacific Commerce Bank Announces Completion of Merger with Vibra Bank

[Business Wire] - Pacific Commerce Bank, “PFCI” announced today that it has completed its merger with Vibra Bank. The shareholders of both institutions approved the transaction at separate special meetings of shareholders held on February 23, 2015.

read full: http://finance.yahoo.com/news/pacific-commerce-bank-announces-completion-100000496.html
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Fri, 06 Mar 2015 22:11:10 GMT ~ Pacific Commerce Bank and Vibra Bank Announce Approval of Merger Application by the California Department of Business Oversight

[at noodls] - LOS ANGELES--(BUSINESS WIRE)-- Pacific Commerce Bank, "PFCI" (OTCQB: PFCI), and Vibra Bank "VBBK" (OTCQB: VBBK), today announced that they have received approval by the California Department ...

read full: http://www.noodls.com/view/983B73460FE8BBC641AE31768B2F5B106B16BFFA
*********************************************************

$PFCI charts

basic chart ## source: stockcharts.com



basic chart ## source: stockscores.com



big daily chart ## source: stockcharts.com



big weekly chart ## source: stockcharts.com



$PFCI company information

## source: otcmarkets.com

Link: http://www.otcmarkets.com/stock/PFCI/company-info
Ticker: $PFCI
OTC Market Place: OTC Pink Current
CIK code: not found
Company name: Pacific Commerce Bank (CA)
Company website: http://www.pacificcommercebank.com
Incorporated In:



$PFCI share structure

## source: otcmarkets.com

Market Value: $17,109,506 a/o May 15, 2015
Shares Outstanding: 2,444,250 a/o Dec 15, 2010
Float: Not Available
Authorized Shares: Not Available
Par Value: No Par Value

$PFCI extra dd links

Company name: Pacific Commerce Bank (CA)
Company website: http://www.pacificcommercebank.com

## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=PFCI+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=PFCI+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=PFCI+Industry

## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/PFCI/news - http://finance.yahoo.com/q/h?s=PFCI+Headlines

## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/PFCI/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/PFCI/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=PFCI+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/PFCI
DTCC (dtcc.com): http://search2.dtcc.com/?q=Pacific+Commerce+Bank+%28CA%29&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Pacific+Commerce+Bank+%28CA%29
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Pacific+Commerce+Bank+%28CA%29&x=0&y=0
WHOIS (domaintools.com): http://whois.domaintools.com/http://www.pacificcommercebank.com
Alexa (alexa.com): http://www.alexa.com/siteinfo/http://www.pacificcommercebank.com#
Corporate website internet archive (archive.org): http://web.archive.org/web/*/http://www.pacificcommercebank.com

## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/PFCI
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/sec-filings
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/PFCI/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/PFCI/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=PFCI&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=PFCI
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/PFCI/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=PFCI+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=PFCI+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=PFCI
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=PFCI
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=PFCI+Cash+Flow&annual

## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/PFCI/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=PFCI+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/PFCI.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=PFCI
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/PFCI/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/PFCI/insider-transactions

## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/PFCI
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/PFCI
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/PFCI:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=PFCI
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=PFCI



$PFCI DD Notes ~ http://www.ddnotesmaker.com/PFCI

[56Chevy]

Pacific Commerce Bank and Vibra Bank Announce Agreement to Merge

First Merger for Pacific Commerce Bank as it Looks to Grow in Southern California

LOS ANGELES, CA / ACCESSWIRE / October 30, 2014 / Pacific Commerce Bank, "PFCI" (PFCI), and Vibra Bank "VBBK" (VBBK), today announced that they have entered into a definitive agreement to merge the two banks into Pacific Commerce Bank. Vibra Bank has one branch office located in Chula Vista, and had assets of $148.1 million, total deposits of $133.6 million, and total loans of $103.7 million as of September 30, 2014. Pacific Commerce Bank has three branch offices in Los Angeles, West Los Angeles and San Diego and has assets of $209.2 million, total deposits of $160.8 million and total loans of $187.7 million as of September 30, 2014.

"This is the first transaction for Pacific Commerce Bank and is the culmination of two years of hard work to improve the Bank's financial performance and establish a strong foundation on which to grow," said Thomas Iino, Chairman of the Board for Pacific Commerce Bank. "This merger, which illustrates our growth strategy, provides shareholders, customers and employees improved value, strength and opportunity. We look forward to joining forces with the Vibra Bank team to continue our strategy of growth, both organically and through acquisitions, throughout the lucrative Southern California market."

The combined bank will operate under the leadership of Frank Mercardante who will become CEO and a Director of Pacific Commerce Bank upon the close and the continued contributions of Scott Andrews who will serve as President. "This merger will enable us to strengthen our customer service, maintain the dedicated community-focused banking and high level of personal service that our customers have come to enjoy," said Howard B. Levenson, Chairman of the Board of Vibra Bank. "It also provides a solid opportunity for the shareholders and employees of both banks to become part of a growing organization with a keen focus on creating shareholder value in the future," he added.

Frank Mercardante, current President and CEO of Vibra Bank said, "I am confident this transaction will benefit the customers of the combined bank with an expanded array of deposit and treasury management products and services, as well as the ability to offer larger loans to our business clients. The combined footprint of the two banks will enable us to more effectively compete for business in the greater Southern California marketplace."

The transaction will be immediately accretive to PFCI's earnings in 2015 and subsequent years, adding to shareholder value, and is priced at 120% of Vibra Bank's adjusted tangible book value, to be determined as of the month-end prior to closing. PFCI will pay approximately sixty-seven percent in common stock and approximately thirty-three percent in cash on an aggregate basis. Within the foregoing limits on the mix of stock and cash, VBBK shareholders will be able to elect PFCI common stock, cash, or a combination thereof. The number of shares of PFCI common stock to be issued to VBBK shareholders is based on the closing adjusted tangible book value of both PFCI and VBBK.

The transaction is expected to close in the first quarter of 2015, and upon closing the Bank will have approximately $350 million in assets and operate four branches in Los Angeles and San Diego counties. Max Freifeld and Luis Maizel, currently directors of VBBK, will join the PFCI board of directors. PFCI and VBBK's board of directors have approved the merger agreement, and Directors and executive officers of VBBK have entered into agreements whereby they have committed to vote their shares in favor of the transaction. The closing of the merger is subject to satisfaction of customary closing conditions, including regulatory approvals and approval of both PFCI and VBBK shareholders.

http://finance.yahoo.com/news/pacific-commerce-bank-vibra-bank-142000885.html

===================================

Pacific Commerce Bank and Vibra Bank Announce Approval of Merger Application by the Federal Reserve Bank of San Francisco

Date : 01/22/2015 @ 6:00AM
Source : Business Wire
Stock : Pacific Commerce Bank (ca) (QB) (PFCI)
Quote : $5.71 0.0 (0.00%) @ 9:12AM

Pacific Commerce Bank, “PFCI” (OTCQB: PFCI), and Vibra Bank “VBBK” (OTCQB: VBBK), today announced that they have received written approval by the Federal Reserve Bank of San Francisco for their proposed merger, which was announced on October 30, 2014.

The merger is expected to close early in the second quarter of 2015, and upon closing the Bank will have approximately $350 million in assets and operate four branches in Los Angeles and San Diego counties. The closing of the merger remains subject to approval of the California Department of Business Oversight and both PFCI and VBBK shareholders. Shareholder meetings for both banks will be held February 23, 2015.

Vibra Bank has one branch office located in Chula Vista, and had total assets of $140.0 million, total deposits of $125.2 million, and total loans of $89.1 million as of December 31, 2014. Pacific Commerce Bank has three branch offices in Los Angeles, West Los Angeles and San Diego and had total assets of $217.8 million, total deposits of $165.5 million and total loans of $195.8 million as of December 31, 2014.

[....]

http://ih.advfn.com/p.php?pid=nmona&article=65191604

*This deal was announced last October Pagz...somehow I missed it. The pps when you posted back in late 2012 was $2 @ share.

[56Chevy]

Pacific Commerce Bank Reports Strong First Quarter Growth and Profitability

Company Release - 04/24/2014 06:15

LOS ANGELES, CA -- (Marketwired) -- 04/24/14 -- Pacific Commerce Bank (OTCQB: PFCI) today reported financial results for the first quarter of 2014 that reflected net income after tax of $891,000 along with another solid quarter of loan growth. This compares favorably to net income of $235,000 in the first quarter of 2013. Loans outstanding grew $12.2 million, or 8.4% in the first quarter and have increased $28.7 million, or 22.2% since the first quarter of 2013.

CEO Scott R. Andrews commented, "The first quarter of 2014 was very productive with $22.6 million in new loan originations. Business development efforts have continued to result in significant new customer acquisitions in both the greater Los Angeles and San Diego County markets. Efforts to bolster core deposit growth include the hiring of a deposit-focused Relationship Officer for the Bank's West Los Angeles market. The establishment of our new full-service branch office in San Diego County will also increase core deposit growth opportunities in that market."

Andrews further commented, "Future earnings growth will be supplemented by an active SBA 7(a) lending program, with additional SBA business development resources being deployed in the second quarter focusing on the Los Angeles market. Pacific Commerce Bank is well positioned to continue the robust organic growth experienced over the past year, and with our asset quality issues fully behind us, the focus and attention of management is to increase revenues while continuing to control expenses."

Chairman Thomas Iino commented, "Results for the first quarter of 2014 put Pacific Commerce Bank on track for a solid year of balance sheet growth and improved core earnings. The Board of Directors continues to focus on providing meaningful shareholder returns over the long-term, and with pursuing in-market opportunities for strategic mergers and acquisitions in 2014."

FINANCIAL RESULTS

Net income for the first quarter of 2014 was supplemented by a reversal of $1.5 million in loan loss provision, due to the significant improvement in asset quality of the Bank. Net interest income increased $109,000, or 7.2% from the prior quarter as a result of the strong loan growth experienced in the first quarter, and the continuing reduction in cost of funds. Non-interest expense declined $382,000, or 17.4% from the prior quarter, which included extraordinary, one-time expenses related to the sale of a large OREO property in November. Investments in new technologies in the fourth quarter and the hiring of additional business development personnel in the first quarter of 2014 drove other non-interest expenses higher than the prior period. Non-interest income declined quarter-over-quarter due to the aforementioned OREO sale. Revenue from the sale of SBA loans in the first quarter was below prior quarter levels, which was the result of a management decision to defer eligible loans for sale into the second quarter.

Net interest margin for the first quarter was 3.95%, an improvement from the 3.83% reported for the prior quarter. This was the result of a higher yield on earning assets of 4.20% versus 4.10% and a lower cost of funds of 0.28% versus 0.30%. Mirroring the industry trend of shrinking margins, on a year-over-year basis the NIM declined from 4.12% a year ago, although the Bank's cost of funds declined from 0.37% to 0.28%, a 24% reduction.

Total asset growth was $13.9 million, or 8.0% for the first quarter, and $27.6 million, or 17.3% growth from a year ago. Asset growth was centered in loans outstanding, as previously mentioned, totaling $12.2 million for the quarter, and $28.7 million from the prior year. The Bank sold its one remaining OREO property at a small gain on sale in the first quarter, for a reduction of $2.6 million in OREO versus the prior year.

As of March 31, 2014, total deposits were up $8.4 million from the same time last year, with core deposits increasing $15.2 million or 20%. Time deposits, predominantly from institutional depositors, declined $6.8 million as the Bank concentrated on attracting core deposits and reducing its funding costs. On a monthly average basis, first quarter deposits increased $3.1 million, or 2.1% and monthly average core deposits increased $15.9 million, or 21% year-over-year. To supplement on-balance sheet liquidity, FHLB borrowings were utilized in the first quarter, with outstanding short-term advances totaling $13.5 million at quarter-end.

Asset quality remains stable, with only three non-accrual loans totaling $477,000 as of quarter-end. The Bank has no OREO properties and has an NPA ratio of 0.25% versus 2.43% one year ago and 0.29% at the prior quarter.

During the first quarter of 2014, Pacific Commerce Bank exited the United States Treasury Department's Capital Purchase Program (TARP) via the Treasury's auction process. The Bank's preferred shares were purchased by three unaffiliated parties, who continue to hold the non-cumulative, perpetual preferred shares. No preferred dividends were paid in February, and none are planned for the future, as the Bank looks to retain its Tier 1 equity for on-going growth initiatives.

Pacific Commerce Bank is well capitalized and poised for future growth opportunities. The Bank's regulatory capital ratios are as follows:

----------------------------------------3/31/2014
Tier 1 Leverage Ratio:............... 14.20%
Tier 1 Risk-Based Capital Ratio:..15.59%
Total Risk-Based Capital Ratio:...16.85%

[....]

http://www.snl.com/IRWebLinkX/file.aspx?IID=4073179&FID=23334100

*O/S is 4,461,255...Total Stockholders' Equity $27.1MM.....BV $6.07...good target bank to be acquired.

**3 years ago accredited investors paid $5 @ share.

Marker:
Pacific Commerce Ban (PFCI)
$5.10 0.0 (0.00%)
Volume: 0

[56Chevy]

Pacific Commerce Bank

Los Angeles, CA
Total TARP funds owed: $4,060,000
?$4,060,000 on Dec. 23, 2008

http://banktracker.investigativereportingworkshop.org/tarp/california/los-angeles/pacific-commerce-bank/

Financial details for Pacific Commerce Bank



Line item ----------- March 31, 2012 ------- March 31, 2013

Assets..................$161,884,000............$159,509,000
Deposits...............$140,056,000............$136,980,000
Loans...................$106,834,000............$124,959,000
Loan loss provision.................$0..........................$0
Profit..........................$318,000..................$235,000
Capital....................$20,564,000.............$21,416,000
Reserves...................$5,350,000..............$4,732,000
Loans 90 days or more past due.....$0......................$0
Non-accruing loans....$10,339,000..............$1,298,000
OREO.......................$4,576,000...............$2,581,000
Capital plus reserves...$25,914,000.............$26,148,000
Total troubled assets...$14,915,000..............$3,879,000

http://banktracker.investigativereportingworkshop.org/banks/california/los-angeles/pacific-commerce-bank/

[56Chevy]

Marker- $3 pps as of 2/12/2013

[vpagano]

Profitable now and trading at 43% of book value it looks. Thanks for adding a board to keep an eye on it Chevy.

[56Chevy]

Pacific Commerce Bank Announces $5 Million Capital Raise in Private Transaction

Company Release - 01/24/2011 06:00

LOS ANGELES--(BUSINESS WIRE)-- Pacific Commerce Bank (OTCBB:PFCI) reported a successful capital raise through a private placement of its common stock.

Capital Raise

The Bank entered into a stock purchase agreement with certain accredited investors, pursuant to a stock permit issued by the California Department of Financial Institutions on January 13, 2011. The Bank sold 1,000,000 shares of its common stock at a price of $5.00 per share (equivalent to approximately 83% of per share book value as of September 30, 2010), resulting in $5 million taken into capital. The capital raise is for general corporate purposes and to better position the bank to pursue certain strategic opportunities. The initial $5 million raise will result in a tangible equity ratio of approximately 12.9% (based on assets as of September 30, 2010).

“We are extremely pleased with the level of interest in this transaction by both outside investors and by our friends. Compared to a number of other community banks that have been forced to raise capital at extremely dilutive prices of 30% to 50% of book, our price of $5 per share reflects well on the direction of the bank and the investors’ confidence in our management,” commented Brian Kelley, President & CEO. “The new capital will allow us to continue the progress we have made in implementing our business plan and improving asset quality, and should better position the bank for future opportunities,” continued Mr. Kelley.

http://www.snl.com/IRWebLinkX/file.aspx?IID=4073179&FID=10634694


*This capital raising effort took place nearly 2 years ago. Investors paid $5 @ share. The PPS on 12/27/2012 closed at $2.05 which represents a significant discount to entry under the cap infusion investors price.

[56Chevy]

Pacific Commerce Bank (PFCI)
Los Angeles, CA

Total TARP funds owed: $4,060,000

$4,060,000 on Dec. 23, 2008

http://banktracker.investigativereportingworkshop.org/banks/california/los-angeles/pacific-commerce-bank/

*12/27/2012 under review only ...not on radar.