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0 of 3 Premium Clicks used this month SUBSCRIBE Print + Online Subscriber Activation | Register x Forgot Password | Need an Account? e-edition | subscribe | newsletter | deals Classifieds Jobs Autos Real Estate FEATURED » NEWS NOW Mail Tribune 100, Jan. 22, 1916 ... Tiger trout to battle chubs in Diamond Lake ... Leader of armed group at wildlife refuge speaks to FBI ... Mail Tribune 100, Jan. 22, 1916 ... Tiger trout to battle chubs in Diamond Lake ... Leader of armed group at wildlife refuge speaks to FBI ... BANKING People's Bank shows 17 percent growth for 2015 Comment By Greg Stiles Mail Tribune Follow @@GregMTBusiness MailTribune.com By Greg Stiles Mail Tribune Follow @@GregMTBusiness Posted Jan. 20, 2016 at 5:42 PM By Greg Stiles Mail Tribune Follow @@GregMTBusiness Posted Jan. 20, 2016 at 5:42 PM » Social News People’s Bank of Commerce overcame fourth-quarter headwinds to finish 2015 with 17 percent growth in its bottom line. The Medford-based bank reported net earnings of $1.4 million, or 65 cents per share, for all of 2015, up from $1.2 million, or 57 cents per share, in 2014. During the fourth quarter, the bank said, it netted $224,000 with per-share earnings of 10 cents, compared with $323,000, or 15 cents, a year earlier. "We've hit our budget goals three years in a row, but this was a challenging year because the fourth quarter was more difficult," said President and CEO Ken Trautman. People's Bank was required to have its real estate holdings reappraised during the quarter and new mortgage lending laws kicked in, raising operating costs and extending the closing period for real estate deals. "Traditionally, we could do a home loan in three weeks," Trautman said. "Now it takes 45 days' minimum; that's a negative for consumers. Anytime anything changes in the process there is a cooling-off period, but I think the title companies, banks and mortgage companies have got it figured out. Realtors are still struggling with additional time for loans to close, but it's the new reality." People's Bank boosted its net loans by 9 percent, or $12.8 million, to $158.4 million during 2015. Deposits grew 18 percent, or $33.9 million, to $224.5 million in 2015 from $190.6 million. Net interest income of $8.3 million rose 12 percent, from $7.4 million. "We hit the loan growth numbers we wanted and loan growth is what drives our earnings," said Trautman, noting 80 percent of the bank's profit comes from interest earnings. "We track our interest per day to make sure that it's going to be positive. We could see the improvement in the local economy." The bank has the full-time equivalent of 67 employees with five offices, including one in Grants Pass where a new permanent branch will open in late February. Reach reporter Greg Stiles at 541-776-4463 or [email protected] . Follow him on Twitter at www.twitter.com/GregMTBusiness and on Facebook at www.facebook.com/greg.stiles.31 . By Greg Stiles Mail Tribune Follow @@GregMTBusiness MailTribune.com By Greg Stiles Mail Tribune Follow @@GregMTBusiness Posted Jan. 20, 2016 at 5:42 PM » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Southern Oregon Directory Featured Businesses Loading... Business Name address Location, ST | website.com Find Southern Oregon Attractions Bars Restaurants Beauty Salons Entertainment Doctors Medical Specialists Contractors Education Lawn Services Lawyers Shopping Travel Tanning Used Cars Wedding Services ▼ Add your business here + Events Calendar Connect with MailTribune.com Facebook Twitter RSS Back to top Reader Services Reader Services Home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Announcements Obituaries Story ideas Since you asked Alerts Email Alerts RSS Feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Propel Marketing Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Mobile Site Stay Informed Email newsletter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Your privacy is important, read our privacy policy. © Copyright 2016 Local Media Group, Inc. All Rights Reserved. Privacy Policy | Terms of Service | Local Media Group Publications Original content available for non-commercial use under a Creative Commons license, except where noted. MailTribune.com | P.O. Box 1108, Medford, OR 97501