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


VALLEY COMMERCE BANCORP REPORTS THIRD QUARTER 2011 RESULTS

 
VISALIA, California, October 27, 2011 —
Valley Commerce Bancorp, (OTCBB: VCBP), a bank holding company and the parent company of Valley Business Bank, today announced third quarter 2011 net income of $826 thousand, or $0.26 per diluted common share.  This compared to earnings of $675 thousand, or $0.21 per diluted common share, for the third quarter of 2010.  For the nine months ended September 30, 2011, the Company reported net income of $2.3 million, or $0.72 per diluted common share, compared to earnings of $1.4 million, or $0.40 per diluted common share, for the nine months ended September 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 with the continued improvement of our earnings and capital.  Our strong earnings and capital positions enable us to continue to actively seek out new opportunities to lend and provide full banking relationships in our communities.  Even with the economic uncertainties and regulatory burdens before us, we remain very confident about our continued strong performance going forward.”

2011 Financial Performance Compared to Prior Year

Nine month periods ended September 30, 2011 and 2010:

 
·
Net income increased by $911 thousand or 65%
 
·
Net interest income increased by $317 thousand or 3%
 
·
The provision for loan losses decreased by $1.4 million or 79%
 
·
Non-interest income increased $110 thousand or 11%
 
·
Non-interest expense increased $284 thousand or 4%

Three month periods ended September 30, 2011 and 2010:

 
·
Net income increased by $151 thousand or 48%
 
·
Net interest income increased by $112 thousand or 3%
 
·
The provision for loan and lease losses decreased by $400 thousand or 72%
 
·
Non-interest income increased by $75 thousand or 21%
 
·
Non-interest expense increased by $294 thousand or 13%

September 30, 2011 compared to September 30, 2010

 
·
The allowance for loan losses as a percentage of total loans decreased from 2.66% to 2.40%
 
·
Nonperforming assets as a percentage of total assets increased from 1.7% to 2.2%
 
·
Non-interest bearing deposits grew by $17.8 million or 22%









 
 

The following information was filed by Valley Commerce Bancorp (VCBP) on Friday, October 28, 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

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Valley Commerce Bancorp.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account