Coronado First Bank, which completed its merger with Embarcadero Bank earlier this year, reported unaudited third quarter net income of $357,000. For the nine months of 2012, the bank with two offices said it earned $930,000.

As of Sept. 30, Coronado First had total assets of $166 million after it was acquired by Embarcadero, a similar sized bank that had one branch and was based in downtown San Diego.

In the prior year for the third quarter, CFB held $86 million in assets, and $54 million in deposits.

The bank exceeded all the minimum capital ratios, and reported a total risk-based capital ratio as of Sept. 30 of 22.84 percent, double the ratio for being regarded as a well-capitalized institution by regulators.

The bank reported its book value, or shareholders equity divided by outstanding shares, at the end of the third quarter to be $10.87, but its most recent market price on Oct 31 for the Over the Counter Bulletin Board under the ticker NADO.OB was $9.40.