Centennial Beneficial Corp., the fast-growing multibank holding company based in Orange, posted record earnings for the fourth straight year as net income rose to nearly $1.1 million, a 71% increase over $622,000 in earnings for the fiscal year ended Sept. 30, 1984.
The corporation changed its fiscal year to a calendar year in 1985.
In year-to-year comparisons, the corporation almost quintupled its size with the purchase of two banks, raising its total assets at year-end to $278 million from $56.8 million a year earlier.
Calling the company's expansion "aggressive but controlled," John B. Joseph, Centennial's chairman, said that the company will fortify its position this year.
Last June, the company purchased Sunwest Bank in Tustin. Last December, its 82% majority-owned subsidiary, Sacramento First National Bank, acquired Sacramento Valley Bank.