February 25, 2021
Business News

People’s Bank of Commerce Reports Earnings

MEDFORD, Ore.–()–People’s Bank of Commerce (OTCBB: PBCO) announced today its financial results for the fourth quarter and full year 2020 operations. The bank reported net income of $6,131,000 for the full year of 2020 compared to $4,068,000 in 2019, a 51% increase. In 2020 earnings per diluted share were $1.76 compared $1.32 per diluted share during 2019, a 33% increase. Net income for the 4th quarter of 2020, totaled $1,698,000 or $0.48 per diluted share compared to $1,350,000 or $0.43 per diluted share for 2019.

When comparing the full year 2020 net income to 2019, several significant items impact the comparison. The bank’s mortgage division increased its gross revenue to $4,750,000 in 2020 from…

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