Chino Commercial’s net income per basic share in 2007 was $1.04 as compared to $1.23 per share in 2006 or a reduction of 15.4%. Net income per fully diluted share was $0.95 as compared to $1.14 per diluted share for fiscal year 2006. The company’s net income for the fourth quarter ended December 31, 2007 was $135,483 or $0.18 per diluted share, as compared to $254,914 or $0.29 per diluted share for the fourth quarter of 2006.
Dann Bowman, president and CEO of Chino Commercial Bancorp, said: We are very pleased to report that despite troubles in the economy and banking industry overall, Chino Commercial Bank had no loan delinquency at year end. In addition, during 2007 the bank took proactive measures and provided an additional $192,253 in reserves for possible future loan losses.
