Valley Commerce Bancorp (VCBP) SEC Filing 10-Q Quarterly report for the period ending Thursday, June 30, 2011

Valley Commerce Bancorp

CIK: 1302244 Ticker: VCBP


Contact: Roy Estridge, EVP/COO/CFO
Valley Commerce Bancorp
 (559) 622-9000


VISALIA, California, July 28, 2011 —
Valley Commerce Bancorp, (OTCBB: VCBP), a bank holding company and the parent company of Valley Business Bank, today announced second quarter 2011 net income of $859 thousand, or $0.27 per diluted common share.  This compared to earnings of $473 thousand, or $0.14 per diluted common share, for the second quarter of 2010.  For the six months ended June 30, 2011, the Company reported net income of $1.5 million, or $0.46 per diluted common share, compared to earnings of $724 thousand, or $0.19 per diluted common share, for the six months ended June 30, 2010. All per share calculations stated above have been adjusted for the 5% stock dividend issued in June 2011.
Allan W. Stone, President and Chief Executive Officer, remarked, “We are pleased to report ongoing improvement in our core earnings and capital during this reporting period.  Even with the tenuous status of the economic recovery we are very optimistic that we will continue with our positive trends.”  He added, “We continue to seek quality growth in the lending and deposit arenas, through both individual customer growth and potential acquisitions.  We are very pleased to be in a sound financial position so that we may continue to capitalize on opportunities that come our way.”    

Comparison of June 30, 2011 to December 31, 2010

Total assets remained consistent at $339 million a change of $2.3 million or 1% from $341 million

Total loans decreased by $2.3 million or 1% to $232 million and total deposits decreased by $4.3 million or 1% to $290 million

The gross loan to deposit ratio increased to 82.6% from 82.0%

Allowance for loan and lease losses (ALLL) increased by $333 thousand to $7.0 million; the ALLL as percentage of total loans increased to 2.94% compared to 2.78%

Non-performing loans as a percentage of total loans increased from 2.91% to 3.73%; non-performing assets as a percentage of total assets increased from 2.00% to 2.63%

Shareholder’s equity increased by $1.9 million or 5% to $40.7 million; the Total Risk-Based Capital Ratio increased from 17.5% to 17.8%


The following information was filed by Valley Commerce Bancorp (VCBP) on Friday, July 29, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Valley Commerce Bancorp's financial trajectory

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Definitive Proxy Statement (Form DEF 14A)
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Valley Commerce Bancorp's Definitive Proxy Statement (Form DEF 14A) filed after their 2011 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors


SEC Filing Tools
Ticker: VCBP
CIK: 1302244
Form Type: 10-Q Quarterly Report
Accession Number: 0000914317-11-001102
Submitted to the SEC: Fri Aug 12 2011 4:13:58 PM EST
Accepted by the SEC: Fri Aug 12 2011
Period: Thursday, June 30, 2011
Industry: State Commercial Banks

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