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IRVINE, CA-Commercial Capital Bancorp Inc. the holding company for Commercial Capital Bank and other entities, reported record net income of $5.4 million, or 23 cents per diluted share, for the third quarter ended September 30. The figures represented an increase of 104% from the net income of $2.6 million reported for the same quarter last year, and a 28% jump from the 18 cents per diluted share for the third quarter of last year.

The quarter’s results reflect record levels of loan originations, and a record increase in loans held for investment, according to Stephen H. Gordon, chairman and CEO, who says the quarterly results turned out positive despite an overall increase in actual interest rates and the increased volatility during the quarter. Net interest margin expanded as the company transitioned more than $130 million of lower yielding mortgage-backed securities into the its higher yielding, adjustable-rate multi-family and commercial real estate loans, Gordon says.

Besides Commercial Capital Bank, CCBI is the holding company for Commercial Capital Mortgage, Inc., ComCap Financial Services Inc., and Commercial Capital Asset Management Inc.

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