California Community Bank, which serves high net worth individuals, businesses and other institutions, has emerged from a loss to make a small net income of $21,000 in the third quarter of this year, contrasting with a loss of $51,000 in the previous year.

The bank’s assets stood at $204 million, a rise of 21 per cent over the same period a year ago.

On a year-to-date basis, the bank remains in a loss, principally due to increased year-over-year non-interest expense resulting from the 16 June, 2008 opening of our fourth full-service de novo branch in the City of Encinitas, chief executive Larry Hartwig said in a statement. Results for the year to date also include an “unprecedented FDIC Bank Insurance Fund special assessment of $80,000”, he said..

“Given the current headwinds against any meaningful short-term economic recovery we also made prudent increases to our overall loan loss reserves,” he said.