Business & Real Estate

Bank of Commerce issues 3-cent dividend to shareholders

Redding-based Bank of Commerce Holdings, which oversees Sacramento Bank of Commerce in Roseville, said its board of directors has authorized a cash dividend of 3 cents a share for this year’s fourth quarter.

The dividend will be paid to shareholders of record as of Dec. 26 and is payable on Jan. 2.

BOCH is a $978 million bank holding company and is the parent of Redding Bank of Commerce. Sacramento Bank of Commerce is headquartered at 1504 Eureka Road in Roseville and is a division of Redding Bank of Commerce.

In this year’s third quarter, BOCH reported net income available to common shareholders of $1.2 million, or 9 cents a share, for the three-month period ended Sept. 30. That was down from a profit of $1.8 million, or 12 cents a share, in the third quarter of 2013. In October, BOCH said the “year-over-year decrease was driven by loan loss provisions.”

Call The Bee’s Mark Glover, (916) 321-1184.