BSD Bancorp reported that net income for the fourth quarter ended Dec. 31, 1987, rose to $633,000, up from $54,000 during the previous fourth quarter. Net income for the year ended Dec. 31 rose to $2.2 million, up from $129,000 for 1986.
All of BSD's banking and banking services subsidiaries were profitable for the year, according to BSD Chairman James S. Brown.
BSD's Bank of San Diego subsidiary reported a $215,000 net profit during the fourth quarter, compared to a $422,000 net loss during the fourth quarter of 1986. The bank returned to profitability for the year, reporting a $324,000 net profit. The bank generated a $985,000 net loss during 1986.
BSD Datacorp also returned to profitability for the year, with a $169,000 net profit. BSD's data-processing subsidiary reported a $191,000 net loss during 1986.
Coast Bank was BSD's earnings leader for the third straight year, with a $713,000 net profit. American Valley Bank reported a $661,000 net profit for the year and Bank of La Costa, a 51%-owned subsidiary, reported an $8,000 net profit. Borrego Springs Bank, a 34%-owned subsidiary, reported a $102,000 net profit.