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Daily Memo

THE — VALLEY — —

People's Bank turns quarterly profit again

Medford-based People's Bank of Commerce made a profit for a second straight quarter, the company announced Wednesday.

For the third quarter of 1999, the community bank earned $76,852 or 13 cents a share. In the third quarter of 1998, it lost $71,129.

The bank, which opened in March 1998, had its first profitable quarter in the second quarter of this year and has year-to-date profits of $73,413.

As of Sept. 30, the bank's assets were $28.3 million and deposits totaled $22.2 million.