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EARNINGS

Plaza S&L Assn. Reports Net Income of $208,000

April 23, 1986

Plaza Savings & Loan Assn. in Santa Ana said net income for the first quarter totaled $208,000, bringing cumulative total net income since the S&L opened on Sept. 6 to $457,000.

Plaza, which emphasizes single-family home lending, said it had originated a total of $41 million in loans by the end of March, including $25 million in the first quarter, and had sold all but $18 million of the total to investors. It also had $19 million in deposits at the end of the quarter.

As of March 31, Plaza Savings had total assets of $23 million, a 27% increase over $18 million in assets at the end of 1985. Starting with $2.4 million in capital, the S&L has increased its net worth to $2.7 million, giving it a ratio of net worth to assets of 11.7%. Federal regulators require new S&Ls to maintain a 7% ratio.

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