California Commercial Bankshares: The Newport Beach parent...

California Commercial Bankshares: The Newport Beach parent company of National Bank of Southern California reported a 42% decline in profits for the second quarter to $526,000, or 20 cents a share, from $913,000, or 36 cents a share, for the same period a year earlier. Earnings for the first half dropped 44% to $1 million, or 41 cents a share, from $1.8 million, or 71 cents a share. Assets as of June 30 were $351.6 million, down 5% from $370.3 million at mid-1991. William Jacoby, president and chief executive, said the lower earnings resulted from an increase in loan-loss reserves, a decrease in earning assets, a decline in interest rates and higher FDIC fees.