Bay Commercial Bank Reports Year End 2006 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 4th quarter and full year 2006 operating results. The Bank reported total assets as of December 31, 2006 of $74.7 million including loans outstanding of $58.4 million compared to December 31, 2005 total assets of $43.3 million and total loans outstanding of $35.9 million. At December 31, 2006, total deposits were $60.4 million compared to total deposits at December 31, 2005 of $29.7 million. The Bank's net income for the fourth quarter 2006 was $130,000 or $0.08 per share compared to net income for the same period in 2005 of $14,000, or $0.01 per share. The Bank's net income for the year ended December 31, 2006 was $227,000 or $0.15 per share compared to a net loss in 2005 of $526,000, or a loss of $0.34 per share. George J. Guarini, Chief Executive Officer of Bay Commercial Bank, stated "We are please with the Bank's financial performance in 2006. The recent addition of our Bankers Exchange Services division has had a positive impact on our operating results. We continue to evaluate new business opportunities and markets, and look forward to continued success in 2007." The Bank offers a full range of loan and deposit products and services to businesses and their affiliates throughout the Bay Area. Its headquarter head·quar·ter v. head·quar·tered, head·quar·ter·ing, head·quar·ters Usage Problem v.tr. To provide with headquarters: office is located at 1280 Civic Drive, Suite 100, Walnut Creek, California Walnut Creek is a largely affluent suburb several miles east of Oakland in Contra Costa County, California, USA, in the East Bay region of the San Francisco Bay Area. While not as large as the neighboring Concord, Walnut Creek serves as the business and entertainment hub for the . The Bank has one branch at 155 Grand Ave, Oakland, California. Bay Commercial Bank is a member of FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (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. Bankers Exchanges Services can be found on line at www.bes1031.com. The Bank has made forward-looking statements 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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