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CCBC Chino Commercial Bancorp News Story

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Chino Commercial Bancorp Q1 net income rises 25% on margin expansion

Overview

U.S. community bank's Q1 net income rose 25% yr/yr, EPS up to $0.52

Net interest income and margin increased, driven by loan and deposit growth

Company reported no loan delinquencies or credit losses in the quarter

Outlook

Company did not provide specific guidance for future quarters or the full year

Result Drivers

NET INTEREST MARGIN EXPANSION - Co said higher net interest margin reflected scalability of business model and effectiveness of strategy to drive loan and deposit growth

NEW MARKET CONTRIBUTION - Co said continued growth of the Corona branch contributed meaningfully to both deposits and loans

MERCHANT SERVICES REVENUE - Merchant services processing revenue rose 71% yr/yr, supporting noninterest income growth

Company press release: ID:nGNX7lZ1nR

Key Details

MetricBeat/MissActualConsensus Estimate
Q1 Net Income$1.69 mln
Q1 Net Interest Income$4.5 mln
Q1 Net Interest Margin4.15%
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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