People’s Bank of Commerce (OTC Bulletin Board: PBCO) has reported earnings for the first quarter of 2010 were $32,000 compared to $52,000 during the first quarter of 2009. The bank had reported earnings of $0.03 per share for the 3 month period ending on March 31, 2010 compared to $0.06 per share in 2009.
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People’s Bank has a 12% increase in net interest income in the first quarter of 2010, compared to the same period last year. Non-interest income dropped 27%, during the first-quarter of 2010 compared to the previous year, mainly due to a 55% reduction in mortgage lending income, reflective upon the depressed housing market.
People’s Bank of Commerce is a financial services institution headquartered in Medford, Oregon. People’s Bank offers a full array of financial products and services to businesses and consumers through its branches located in Medford, Ashland and Central Point, Oregon.
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