Commerce Bank is on a rebound after millions of investments by locals | Economic news


“We’re the little guy who has a lot of room to grow, and we’re the ones with staff and people who have been in the community their entire lives,” he added.

The shares of the bank’s holding company, CBOA Financial, are listed on “pink sheets”, providing shareholders with a market for their shares.

Commerce actively seeks loans, Sheneman said, as it slowly resolves bad debts that have kept the bank’s percentage of “non-performing assets” – such as delinquent loans – among the highest in the state, at about 5%.

That number is slowly declining as Commerce builds as many viable problem loans as possible to minimize the amount it has to write off, he said.

Recent advances in commerce have yet to be recognized by Bauer Financial, a Florida-based company that has assessed the financial health of banks since 1983.

Bauer gave Commerce a star, or “troubled,” for the first quarter ended March 30, the company’s most recent ratings.

Lewis of Commerce Bank said he hoped Bauer would recognize the bank’s progress and reward it with a higher rating in his second quarter report, due in mid-September.

Another local bank that has been subject to a regulatory order to raise capital, Canyon Community Bank, retained its two-star or “problematic” Bauer rating for the first quarter of 2017, after recording a loss of $ 109,000 in during the quarter.

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