Earnings Reports: January 2012 Archives

Community Bank, a business bank with 15 branches in San Bernardino, Los Angeles, Riverside and Orange counties, reported a $25.2 million profit for the year ending Dec. 31.

The bank's profit compares with a $20.7 million profit earned in 2010.

The bank also reported a decrease in its reserve for loan losses. At the end of last year, the bank reported a $37.5 million, or 2.12 percent, of its total loans as being reserved for potential losses. That number is down from $39.7 million, or 2.25 percent of outstanding loans, at the end of 2010.

Community Bank has $2.6 billion in reported assets. The bank's branches include locations in Ontario, Fontana and Redlands. Community Bank's main office is in Pasadena.

Altura Credit Union, which is based in Riverside, reported an $8.43 million profit for 2011.

The amount signifies an improvement over the credit union's $5.8 million loss in 2010.

"After the economic turmoil of the past few years, 2011 was our best year since 2006," Altura Credit Union CEO Mark Hawkins said in a statement. "Although we continued to deal with a difficult economy, 2011 was the year in which we finally saw the marketplace begin to firm up. Unemployment is settling down and foreclosures and delinquencies have eased substantially."

Altura Credit Union ended 2011 with a 7.84 percent net worth ratio, well above the 5.81 percent ratio at the end of 2010. The National Credit Union Administration considers an institution with a ratio of at least 7 percent to be well capitalized.