First Commerce Bank Reports Profits.Business Editors ENCINO, Calif.--(BUSINESS WIRE)--Jan. 29, 2002 First Commerce Bank today announced that net income for the year ended December December: see month. 31, 2001 was $1,200,000. This compares with earnings of $1,143,000 a year ago, an improvement of 5%. Included in the 2001 net income is a tax benefit of $349,000. This benefit is the result of utilizing prior-years' net operating losses Net operating losses Losses that a firm can take advantage of to reduce taxes. to reduce current tax expense and compares to a $332,000 tax benefit last year. Net income for the quarter ended December 31 and before tax benefit was $235,000. This compares with earnings of $332,000 a year ago, a reduction of 29%. Assets at year end 2001 were $100,181,000, up $3 million or 3% from the quarter ended September September: see month. 30, 2001 and up $23,000,000 or 30% from a year ago. Deposits and Loans at year end 2001 were $91,000,000 and $73,000,000, up respectively 3% and 11% for the fourth quarter and 32% and 36% for the year. Bank President and Chief Executive Officer, Jack Feldman Feldman is a common Ashkenazi Jewish surname. Some notable people it may refer to include:
First Commerce Bank is an independent community business bank headquartered at 16861 Ventura Boulevard Ventura Boulevard is one of the primary east-west thouroughfares in the San Fernando Valley; as it was originally a part of the El Camino Real (the trail between Spanish missions), Ventura Boulevard is the oldest route in the San Fernando Valley. It was also U.S. , Encino with a regional office in Brentwood. |
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