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VALLEY EARNINGS

Western Security Bank's 3rd-Quarter Profits Slip

November 04, 1986

Western Security Bank, a one-branch Toluca Lake financial institution, said its third-quarter earnings fell 58% from the same period in 1985 to $14,000 or 3 cents a share, as a result of the expense of moving to a new building.

The bank's assets as of Sept. 30 totaled $37 million, up 63% from a year earlier. The bank's net worth was $3.9 million.

For the first nine months of the year, Western's earnings rose 95% to $150,000, or 36 cents a share. The bank attributed its improved showing over the nine-month period in part to an expanded corporate banking division.

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