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INDUSTRY NOTES

January 05, 1986

Liberty National Bank of Huntington Beach made more Small Business Administration loans than any other independent bank in the nation during the federal agency's fiscal year ended Sept. 30, according to Philip S. Inglee, bank president.

Liberty National originated more than $24 million in SBA loans, a figure that makes it the fourth biggest SBA lender in the nation when compared with all lending institutions, he said. The bank, which has an office in Los Angeles, specializes in small business banking.

Downey-based Southern California Bank has purchased the Huntington Beach branch of Garfield Bank for a price still under negotiation but expected to be less than $500,000, said H.A. Beisswenger, president of Southern California Bank.

The purchase will boost his bank's assets by about $5.5 million to $205.5 million and give the bank its 13th branch, Beisswenger said. Southern California Bank has branches in Anaheim, Brea, La Habra and Orange.

Garfield Bank, based in Montebello, has kept its main office branch and its Monterey Park branch and has closed its Hollywood branch. The bank reported a $388,000 loss for 1984.

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