Chino Commercial Bancorp Reports 25% Increase in Net Earnings

Core Insights - Chino Commercial Bancorp reported strong financial performance for the second quarter of 2025, achieving record levels in total assets, deposits, net earnings, and total capital [3][4]. Financial Performance - Net earnings for Q2 2025 were $1.54 million, a 25.04% increase from $1.23 million in Q2 2024 [2][17]. - Year-to-date net earnings increased by 16.85% to $2.89 million compared to $2.48 million in the same period last year [2][17]. - Basic and diluted earnings per share rose to $0.48 in Q2 2025 from $0.38 in Q2 2024 [2][17]. Financial Condition - Total assets reached $481.9 million, up $15.3 million or 3.3% from $466.7 million at the end of 2024 [4][13]. - Total deposits increased by $22.7 million or 6.5% to $371.6 million from $348.9 million at the end of 2024 [4][13]. - Core deposits constituted 97.01% of total deposits as of June 30, 2025 [4][19]. Loan Quality - Gross loans increased by $1.02 million or 0.5% to $206.3 million as of June 30, 2025 [5]. - The bank reported no delinquent loans and three non-performing loans on non-accrual status [5][18]. Earnings Breakdown - Net interest income for Q2 2025 was $3.7 million, compared to $3.2 million in Q2 2024 [6]. - The net interest margin improved to 3.69% in Q2 2025 from 2.95% in Q2 2024 [6][18]. - Non-interest income totaled $1.0 million, a 23.0% increase from $822.0 thousand in Q2 2024, driven by higher service charges and fees [7][18]. Expenses and Tax - General and administrative expenses rose to $2.7 million in Q2 2025 from $2.3 million in Q2 2024, with salaries and benefits being the largest component [8]. - Income tax expense for the quarter was $614.9 thousand, reflecting a 26.7% increase compared to $485.5 thousand in the same period last year [9]. Key Financial Ratios - Annualized return on average equity was 13.88% for Q2 2025, up from 12.61% in Q2 2024 [18]. - Annualized return on average assets improved to 1.41% from 1.08% year-over-year [18]. - The core efficiency ratio decreased to 55.25% from 57.09% in the same period last year [18].