Bank of Commerce Q4 net income decreases

Bank of Commerce Holdings has reported net income available to common shareholders of $1.19 million, or $0.08 per share, for the fourth quarter ended December 31, 2012, compared to $1.92 million, or $0.11 per share, for the fourth quarter ended December 31, 2011.

Net interest income for the fourth quarter ended December 31, 2012 was $8.75 million, compared to $8.49 million for the fourth quarter ended December 31, 2011.

Net income available to common shareholders for the year ended December 31, 2012 was $6.54 million, or $0.41 per share, compared to $6.31 million, or $0.34 per share, for the year ended December 31, 2011.

Net interest income for the year ended December 31, 2012 was $35.11 million, compared to $34.15 million for the year ended December 31, 2011.

Patrick Moty, president and CEO commented: "In 2012, we experienced both positive results along with a few challenges. On the positive side we saw a 4% increase in net profits, a 32% increase in share price, and an 11% increase in core deposits. The challenges continue to be in the lingering effects from assets and the less than robust loan demand. But more importantly, in 2012 we celebrated our thirtieth year in business. Throughout these last three decades, it has been our privilege assisting businesses and individuals in achieving their financial goals."