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Profile: Bank of Commerce Holdings (BOCH.OQ)

BOCH.OQ on NASDAQ Stock Exchange Global Market

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25 Apr 2019
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Bank of Commerce Holdings (Holding Company), incorporated on January 21, 1982, is a bank holding company. The Company's principal business is to serve as a holding company for Redding Bank of Commerce (Bank), which operates under two separate names (Redding Bank of Commerce and Sacramento Bank of Commerce, a division of Redding Bank of Commerce). It also has an unconsolidated subsidiary, Bank of Commerce Holdings Trust II, which was organized in connection with the Company's prior issuances of trust preferred securities.

The Bank operates over four full service facilities in two diverse markets in Northern California. The Bank provides a range of financial services and products for business and retail customers. The services offered by the Bank include those offered by banks of similar size and character in California. Its principal products include various types of accounts, such as checking, interest-bearing checking, savings, certificate of deposit and money market deposit. It also offers sweep arrangements, commercial loans, construction loans, term loans, safe deposit boxes and electronic banking services. The primary focus of the Bank is to provide banking and related services to small and mid-sized businesses, not-for-profit organizations, and professional service providers, as well as banking services for consumers, primarily business owners and their employees.

Lending Activities

The Bank's principal lines of lending are commercial; commercial real estate, including real estate-construction and land development, real estate-commercial non-owner occupied and real estate-commercial owner occupied loans; residential real estate loans, such as real estate-residential- individual taxpayer identification number (ITIN), real estate-residential one- to four-family mortgage and real estate-residential-equity lines, and consumer and other loans. The Bank originates direct loans made to individuals and small businesses in the market areas. The Bank accepts as collateral for loans real estate, listed and unlisted securities, savings and time deposits, automobiles, machinery and equipment and other general business assets, such as accounts receivable and inventory. In addition to direct lending, its loan portfolio includes a loans that are purchased as pools of loans, or participations where a portion of a loan was originated by another lending institution. The Bank's total net loans amount to approximately $706.23 million.

Investment Activities

The Bank's investment securities available-for-sale include the United States government and agencies, obligations of state and political subdivisions, mortgage-backed securities and collateralized mortgage obligations, corporate securities, commercial mortgage backed securities and other asset backed securities. The Bank's investment securities Available-for-sale investment securities totaled approximately $159.03 million. The Banks' investment securities held-to-maturity investment portfolio is utilized to hold longer-term securities that may have greater price risk, many of which are pledged as collateral for the bank's local agency deposit program. This portfolio includes securities with longer durations and higher coupons than securities held in the available-for-sale securities portfolio. The Bank's investment securities held-to-maturity investment securities totaled approximately $35 million.

Sources of Funds

The Bank's primary sources of funds are deposits. The Bank's deposits include noninterest-bearing demand deposits, interest-bearing demand deposits, money market accounts, savings deposits and certificates of deposit. The Bank's deposits totaled over $803.73 million. The Bank uses Federal Home Loan Bank (FHLB) advances as a source of wholesale funding to provide liquidity.

Company Address

Bank of Commerce Holdings

1901 Churn Creek Rd
REDDING   CA   96002-0246
P: +1530.7223939

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