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Bank of Commerce Holdings (NASDAQ: BOCH) has declared a cash dividend of $0.06 per share for the first quarter of 2021. This dividend will benefit shareholders of record as of March 30, 2021, with payment scheduled for April 9, 2021. The company, headquartered in Sacramento, California, operates as a bank holding company with assets totaling $1.764 billion. Merchants Bank of Commerce, its subsidiary, provides community banking services across northern California.
Bank of Commerce Holdings (NASDAQ: BOCH) announced the appointment of Diane D. Miller to its Board of Directors, effective March 16, 2021. CEO Randall S. Eslick expressed enthusiasm about her diverse experience in audit, risk management, and corporate governance, which is expected to enhance the Board's capabilities. Miller is the CEO of Wilcox Miller & Nelson and has served on multiple corporate and non-profit boards. Bank of Commerce Holdings operates the Merchants Bank of Commerce, serving northern California and is valued at approximately $1.764 billion in assets.
Bank of Commerce Holdings (NASDAQ: BOCH) announced the adoption of a formal Environmental and Social Risk Policy Framework. This initiative reflects the company's commitment to governance, diversity, social justice, and environmental integrity. CEO Randall S. Eslick emphasized the importance of inclusive workforce practices and a diverse Board of Directors. The newly implemented policy is available for public viewing on the company’s website, showcasing their corporate philosophy and commitment to sustainable banking practices.
Bank of Commerce Holdings (NASDAQ: BOCH) reported its financial results for Q4 and the year ended December 31, 2020. Q4 net income rose to $5.1 million ($0.30 per share) from $4.4 million ($0.24 per share) in Q4 2019. However, annual net income decreased by 5% to $14.2 million, unchanged per share at $0.83. Average loans grew by 13% to $1.149 billion, while average deposits increased by 14% to $1.423 billion. Nonperforming assets totaled $7 million (0.40% of total assets). The efficiency ratio improved to 58.8%, and book value per share rose to $10.58. Management expressed confidence in future growth.
Bank of Commerce Holdings (NASDAQ: BOCH) announced a $0.06 cash dividend per share for Q4 2020, marking a $0.01 increase from the previous quarter. This dividend is payable to shareholders of record as of December 29, 2020, with payment scheduled for January 8, 2021. The company, headquartered in Sacramento, operates Merchants Bank of Commerce and offers community banking services throughout northern California. As of now, Bank of Commerce Holdings has total assets of $1.740 billion.
Bank of Commerce Holdings (NASDAQ: BOCH) announced a share repurchase program allowing the purchase of up to one million shares by December 31, 2021. This initiative is expected to enhance shareholder value, as stated by CEO Randall S. Eslick. The buybacks will occur in the open market or through private transactions, with flexibility in the execution dependent on market conditions. The board's confidence in the company's long-term core value motivated this decision. Bank of Commerce Holdings serves northern California, focusing on community banking.
Bank of Commerce Holdings (NASDAQ: BOCH) announced the opening of a Loan Production Office (LPO) in Santa Rosa, California, on December 1, 2020. This strategic expansion aims to tap into the economically attractive North Bay markets and aligns with the company's vision for growth. The LPO will be managed by Steve Tagnolli, who has extensive local banking experience. Bank of Commerce Holdings operates as a community bank in northern California, with assets totaling $1.740 billion.
Bank of Commerce Holdings (NASDAQ: BOCH) reported Q3 2020 net income of $4.3 million, a decline from $4.6 million in Q3 2019. Year-to-date net income also decreased to $9.1 million from $10.6 million. The bank recorded a $1.1 million provision for loan losses and significant COVID-19 loan deferrals totaling $38.6 million. While net interest income rose to $14.1 million, the net interest margin declined to 3.51%. Nonperforming assets decreased to $8.1 million, representing 0.47% of total assets, showcasing improved asset quality despite challenging market conditions.
Bank of Commerce Holdings (NASDAQ: BOCH) has announced a cash dividend of $0.05 per share for the third quarter of 2020. This dividend is consistent with previous quarterly payments, reflecting the company's stability in its financial performance. Shareholders of record as of September 29, 2020 will receive the payment on October 9, 2020. With total assets of $1.712 billion, Bank of Commerce Holdings continues to strengthen its position in the community banking sector across Northern California.
Bank of Commerce Holdings (NASDAQ: BOCH) announced the appointment of Carl W. Rood as Executive Vice President and Chief Operating Officer, effective August 1, 2020. Rood, who has over 30 years of banking experience, previously served as Senior Vice President and Chief Risk Officer since October 2016. Randall S. Eslick, President and CEO, expressed confidence in Rood's capabilities, highlighting his extensive knowledge as a significant asset to the management team. Bank of Commerce Holdings operates Merchants Bank of Commerce, providing community banking services across northern California.
