People's Bank of Commerce (PBCO) in Medford, Ore., has restated its full-year 2013 and first-quarter earnings to reflect higher profits after correcting its reporting on foreclosed properties.

The $192 million-asset company increased its full-year 2013 earnings to $1 million, up 14% from its previous statement. People's first-quarter earnings rose 21% from the previously reported amount, to $204,000.

People has now corrected its accounting methodology and the changes are non-recurring, President and Chief Executive Ken Trautman said in a Friday press release.

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