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Earnings

February 05, 1988

Dana Niguel Bank reported net income of $377,000 for 1987, a 25.2% increase from 1986 net income of $301,000. Annual revenue rose 11.9% to $2.35 million from $2.1 million in 1986. The bank's net income for the fourth quarter rose 6.3% to $101,000 from $95,000, while total quarterly revenue climbed 32.4% to $658,000 last year from $497,000 in the final quarter of 1986. The bank's total assets were $36.9 million on Dec. 31, a 2.8% increase over $35.9 million in assets a year earlier. Total loans grew 8% to $20.2 million at the end of December from $18.7 million a year earlier, and total deposits rose 2% to $33.1 million at year's end from $32.3 million a year earlier.

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