Bank of Commerce Records First Profitable Year - Tabular Information Follows

CHARLOTTE, N.C., Jan. 13 /PRNewswire-FirstCall/ -- In regard to the previous release, "Bank of Commerce Records First Profitable Year," the following is additional information:


    Bank of Commerce
    2008 Fourth Quarter Report
    In Thousands

                                  December 31,        December 31,
                                     2008                 2007
                                 (unaudited)           (audited)

    Assets

    Cash                              $555              $1,618
    Federal funds sold               3,805                 -
    Investment securities           29,438              21,131
    Loans, gross                   108,379              66,126
    Allowance for loan losses       (1,523)               (995)
    Other assets                     4,796                 884
      Total assets                $145,450             $88,764

    Liabilities and
     Shareholders' Equity
    Deposits                       $83,820             $58,030
    Borrowed funds                  43,557              14,928
    Other liabilities                2,241                 436
    Shareholders' equity            15,832              15,370
      Total liabilities and
       shareholders' equity       $145,450             $88,764



    Statements of Operations
    In Thousands
                       For the Quarters Ending        For the Years Ending
                      December 31,   December 31,  December 31,   December 31,
                         2008           2007          2008           2007
                     (unaudited)    (unaudited)   (unaudited)      (audited)

    Total interest
     income             $1,792         $1,530         $6,545        $5,133
    Total interest
     expense               735            661          2,611         2,256
    Net interest income  1,057            869          3,934         2,877
    Provision for loan
     losses                114             91            528           444
    Net interest income
     after provision for
     loan losses           943            778          3,406         2,433
    Total other income     100             64            345           182
    Total other expense    969            772          3,476         3,087
      Income (loss)
       before taxes         74             70            275          (472)
    Income taxes           -              -              -             -
      Net income (loss)    $74            $70           $275         ($472)

SOURCE Bank of Commerce



RELATED LINKS
http://www.BankofCommerceNC.com

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