# Commencement Bancorp Reports Higher Profit as Loans Grow and Deposits Decline

Quarterly earnings reached $2 million, while nonperforming assets increased from the prior quarter.

By Will Langan | 24X7 News
Published: 2026-10-29T19:07:47.130Z
Updated: 2026-10-29T19:07:47.130Z
Section: Money
Format: News
Canonical: https://24x7news.us/articles/commencement-bancorp-third-quarter-results-october-29-2026

Commencement Bancorp reported October 29 that third-quarter net income reached $2 million, or 55 cents per share, compared with $1.9 million, or 49 cents, a year earlier.

The Tacoma, Washington, parent of Commencement Bank also improved from the second quarter’s $1.8 million in net income.

Loans increased to $570.1 million at September 30 from $556.6 million at June 30. The company reported $40 million in new loan commitments during the quarter, compared with $60 million in the preceding period.

Deposits moved in the opposite direction, declining to $636.6 million from $659.6 million. The bank attributed that decrease primarily to seasonality. Total assets fell to $719.3 million from $739.8 million.

Nonperforming assets rose to $1.8 million, or 0.25% of assets, from $488,000, or 0.07%, after two credit relationships moved to nonaccrual status.

Net interest margin was 4.28%, compared with 4.29% in the second quarter and 4.21% a year earlier.

The earnings release covers the quarter ended September 30. It describes reported financial performance rather than a forecast of future results.

Sources:
Commencement Bancorp — October 29 Results via ACCESS Newswire: https://www.streetinsider.com/ACCESS+Newswire/Commencement+Bancorp,+Inc.+Announces+Third+Quarter+2026+Results/27256897.html

## Sources
- Commencement Bancorp — October 29 Results via ACCESS Newswire: https://www.streetinsider.com/ACCESS+Newswire/Commencement+Bancorp,+Inc.+Announces+Third+Quarter+2026+Results/27256897.html