Tuesday, July 17, 2012

Bank of Commerce stays profitable

Charlotte-based Bank of Commerce remained profitable in the second quarter, earning $116,000 for shareholders as the bank set aside less for loan losses, the bank said Tuesday.

That compares with a loss of $268,000 in the same time period last year. The small commercial bank earned $48,000 in the first quarter of 2012, reversing three straight quarterly losses.

"We have worked diligently to return the Bank to profitability," CEO Wes Sturges said in a statement. "We have improved asset quality, enhanced our capital position and have begun to see increased lending activity."

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