Bay Commercial Bank Reports Third Quarter 2009 Results.WALNUT CREEK Walnut Creek, residential city (1990 pop. 60,569), Contra Costa co., W Calif., in the San Francisco Bay area; inc. 1914. It is the trade and shipping center of an extensive agricultural area where walnuts are among the major product. , Calif. -- Bay Commercial Bank (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BCML BCML Balrampur Chini Mills Limited BCML Batch Control Markup Language BCML Baltimore County Major League ) today announces its 3rd quarter 2009 operating results. The Bank reported total assets as of September 30, 2009 of $154.1 million including loans outstanding of $129.3 million compared to September 30, 2008 total assets of $104.1 million and total loans outstanding of $93.1 million. At September 30, 2009, total deposits were $132.7 million compared to total deposits at September 30, 2008 of $80.7 million. The Bank's operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. for the third quarter 2009 was $93,000 or $0.06 per share compared to net income for the same period in 2008 of $69,000 or $0.04 per share. The Bank's 2009 year to date operating income was $132,000 or $0.09 per share compared to net income for the same period in 2008 of $236,000, or $0.15 per share. The Bank's year to date 2009 operating results include one-time costs totaling $120,000 related to the acquisition of the Castro Valley Castro Valley, uninc. city (1990 pop. 48,619), Alameda co., W Calif., near San Francisco Bay. Chiefly residential, it also has light industries. branch and the FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). special Assessment. George J. Guarini, Chief Executive Officer of Bay Commercial Bank, stated, "We are pleased that the Bank's operating results have improved as the Castro Valley branch acquisition contributes to operating income. We remain focused on maintaining strong credit quality and liquidity in these challenging times. In addition, we continue to evaluate capital and acquisition strategies that will allow the Bank to grow and take advantage of today's economic environment." The Bank offers a full range of loan and deposit products and services to businesses and their affiliates throughout the Bay Area. Its full services branches in California are located at 1280 Civic Drive, Walnut Creek, 155 Grand Avenue, Oakland, and 3895 E. Castro Valley Blvd., Castro Valley. Bay Commercial Bank is a member of FDIC and is an Equal housing lender The terms Equal Housing Lender and Equal Opportunity Lender are synonymous and refer to all FDIC insured banks in the United States. Such banks are prohibited from discriminating on the basis of race, color, religion, national origin, sex, handicap, or familial status. . Bay Commercial Bank is traded on the bulletin board under the symbol BCML.OB and the Bank can be found at www.baycommercialbank.com. The Bankers Exchange Services Division can be found at www.BES1031.com. The Bank has made forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this Press Release that are subject to risks and uncertainties. Forward-looking statements include information concerning the Bank's possible or assumed future results of operations. Also, when the Bank uses such words as "believe," "expect," "anticipate," "plan," "could," "intend," or similar expressions, it is making forward-looking statements. Readers should not place undue reliance on the forward-looking statements, which reflect management's view only as of the date hereof. The Bank's actual results could differ materially from those anticipated in any forward-looking statements as a result of certain factors, including those set forth in "Risk Factors" and elsewhere in its Offering Circular Offering Circular An abbreviated prospectus for a new security listing. Delivered to individuals and brokerage houses, these documents are issued to arouse interest in the new issue. Notes: An offering circular allows investors to access information regarding a new issue. and are incorporated herein by reference. The Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. [TABLE OMITTED] |
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