First Commerce Bancorp based in Encino said today that net income rose 31 percent to $923,000 or $0.12 per diluted share for the third quarter ended Sept. 30, up from $702,000 or $0.07 per share in the same period last year. Assets increased 11 percent to about $2.7 million for the third quarter. Another local Valley bank, Western Commercial Bank, also announced its third quarter results. The bank, which launched in February, reported assets grew to $25.9 million and total deposits were $14.5 million for the quarter ended Sept. 30. The bank’s losses were $557,000 in the quarter.