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Thursday, Apr 25, 2024

Western Commercial Reports Second Quarter

Western Commercial Bank said its assets rose to $62.3 million for second quarter of 2007. Assets included $55 million in gross loans and total deposits of $51.8 million. Western Commercial officials said the bank exceeded its goals in loan production. “Both our deposit and loan prospect pipelines remain strong as we continue to focus our business on real estate and business clients,” said Carl W. Raggio III, president and CEO of Western Commercial Bank. “This year our goal is to become profitable as soon as possible.” The Woodland Hills based startup, which has been in operation since February, 2006, reported a loss of $179,000 for the quarter.

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