American Pacific Earnings Jump 61% in 4th Quarter
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American Pacific State Bank saw its fourth-quarter earnings jump 61% while its profits for all of last year climbed 27%.
The Sherman Oaks-based bank had net income of $1.06 million for the quarter that ended Dec. 31, compared to a profit of $658,523 in the same quarter a year earlier.
For all of 1996, American Pacific had net income of $2.9 million, up from $2.3 million in 1995.
As of Dec. 31, total assets were $311 million, up 8% from $287 million a year earlier.
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