Tuesday, April 16, 2013

Bank of Commerce reports profit, more lending opportunities

Charlotte-based Bank of Commerce reported Tuesday a first quarter profit of $69,000 -- up 48 percent from the same time period last year as executives say business is picking up.

"Over the past few months we have seen an increase in business activity: and, as a result, more lending opportunities," CEO Wes Sturges said in a statement. " We are pleased to be able to report both loan growth and increased profitability for the quarter."

The bank's loan book grew about 3 percent since the end of the year, to $92 million, as total assets fell.