American Pacific State Bank Posts Profit Gain
- Share via
American Pacific State Bank, a seven-branch bank based in Sherman Oaks, reported a 21% increase in net income for the second quarter that ended June 30.
The bank reported a profit of $436,000 for the second quarter, up from $360,000 in the same three-month period a year earlier. For the first six months of the year, the bank reported earnings of $1 million, up 15% from $884,000 in the corresponding period of 1994.
Assets totaled $290 million as of June 30, up 9% from $265 million a year earlier.
Frank Ures, chief executive of American Pacific, attributed the results partly to improvements in the Southern California economy.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
