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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 Twin brothers get prison on federal heroin charges ... Four more lead pigtails found in Medford ... Most cities will vote on Heritage District in November ... Twin brothers get prison on federal heroin charges ... Four more lead pigtails found in Medford ... Most cities will vote on Heritage District in November ... EARNINGS People's Bank reports 20 percent Q2 jump Comment By Greg Stiles Mail Tribune Follow @@GregMTBusiness MailTribune.com By Greg Stiles Mail Tribune Follow @@GregMTBusiness Posted Jul. 19, 2016 at 4:31 PM By Greg Stiles Mail Tribune Follow @@GregMTBusiness Posted Jul. 19, 2016 at 4:31 PM » Social News People's Bank of Commerce earnings jumped 20 percent in the second quarter, driven by expanding loan demand. The Medford-based community bank reported net income of $448,000 or 20 cents per share, up from $375,000 or 18 cents per share a year earlier. Through the first six months of 2016, People's Bank has netted $746,000, or 34 cents per share, up from $709,000 with similar per-share earnings. People's Bank loan portfolios expanded $8.2 million in the second quarter on the heels of a $14.3 million gain in the first quarter. Chief Financial Officer Russ Millburn characterized the additional lending as long-term loans for building acquisition, equipment purchase and lines of credit. "We're seeing the growth from both new and existing businesses," Millburn said. "It's really diverse with medical, office and retail involved." The bank began seeing increased demand during 2015, Millburn said. "And it hasn't quit yet." Net interest income grew 14 percent in the second quarter to $2.4 million from $2.1 million a year ago. Just as important, no loans were past due 90 days at the end of the second quarter in 2016 or 2015. Although there is some refinancing and movement from other lenders, Millburn said there has been steady local economic expansion. "We've been growing our loan portfolio for a number of years, but not at the rate we have the last three quarters," he said. Part of the demand has been triggered by lower commercial lending rates. "The rates are as low as I've seen in 30 years for commercial real estate at 4 and 5 percent, depending on many factors," he said. "The increased loans have been the big driver for us, because without increasing overhead, the interest income falls right to the bottom line." Reach reporter Greg Stiles at 541-776-4463 or [email protected]. Follow him on Twitter at www.twitter.com/GregMTBusiness , 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 Jul. 19, 2016 at 4:31 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