CommerceBancorp, the holding company for CommerceBank in...

CommerceBancorp, the holding company for CommerceBank in Newport Beach, reported net income of $433,000 for the first quarter, a 20% increase over the $361,000 earned in last year’s first quarter. The company’s assets were $206.6 million at the end of March, a 4% drop from $215.9 million in assets a year earlier. Total deposits fell 5% to $191.9 million at the end of the quarter, from $202.6 million a year earlier, but total loans rose 20% to $141.4 million this year, from $117.9 million last year.