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Chino Commercial Bancorp (OTCMKTS:CCBC) Stock On Watchlist After Earnings Update

Madison Hall , , , ,

Chino Commercial Bancorp (OTCMKTS:CCBC) is the parent holding company of Chino Commercial Bank and last Friday it was in the news cycle after it announced its operational results for the bank as well as for the consolidated holding company for the first fiscal quarter ended on March 31, 2023.

Trading Data

On Friday, CCBC stock lost 0.76% to $13.00 with more than 200 shares, compared to its average volume of 990 shares. The stock moved within a range of $13.00 – 13.00 after opening trade at $13.00.

Chino Commercial Bancorp Reports 30% Increase in Net Earnings

The company announced that for the first quarter the net earnings came in at $1.2 million and that worked out to a year on year rise of as much as 29.8% from the net earnings of $900000 in the prior year quarter. On the other hand, the net earnings for the quarter per basic and diluted share came in at $0.44 each in comparison to $0.34 for the corresponding quarter last year.

The President and Chief Executive Officer of the company Dann H Bowman spoke about the performance as well. He noted that although there had been considerable turmoil in the banking sector in recent times owing to tech startups and crypto related issues, the conditions at Chino Commercial Bancorp remained strong. That was primarily due to the strength of the local economy. He went on to add that in addition to improved earnings, the company continued to have strength in loan quality.

Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.