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TUCSON, Ariz., May 7, 2021 /PRNewswire/ CBOA Financial, Inc. (OTCMKTS:CBOF) (the Company ), parent company of Commerce Bank of Arizona (the Bank or CBAZ ), announced that consolidated after tax net income for quarter ending March 31, 2021 increased 46% to $543,000, from $371,000 year-over-year.
Chris Webster, Bank President and Chief Executive Officer commented, Our year over year performance validates our current operating strategy; successful pursuit of quality loan opportunities combined with disciplined loan pricing. We also continue to steadily decrease the bank s nonperforming assets which is critical in the current environment. On top of this strong performance, our lending staff processed another $27 million of Paycheck Protection Program (PPP) loans, providing much needed support to Arizona businesses.
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TUCSON, Ariz., Feb. 11, 2021 /PRNewswire/ CBOA Financial, Inc. (OTCMKTS:CBOF) (the Company ), parent company of Commerce Bank of Arizona (the Bank or CBAZ ), announced that consolidated after tax net income for quarter ending December 31, 2020 increased 373% to $1,522,000, from $457,000 in the third quarter of 2020.
Chris Webster, Bank President and Chief Executive Officer said The economic and operating challenges of 2020 were unprecedented. I am extremely proud of our team and how we were able to maintain our exceptional customer service performance standards. Webster added, Our financial metrics for the year were excellent. The Bank generated strong loan and deposit growth, Net Interest Margin and bottom line Net Income. And, we were able to re-align key non-interest costs which will benefit the Bank in the years to come.