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VALLEY EARNINGS

Bank of Encino Posts $115,881 6-Month Profit

July 26, 1988

Bank of Encino, a single-office bank in Encino, reported a profit of $115,881, or 58 cents a share, for the first half of 1988, contrasted with a $115,584 loss in the comparable year-earlier period.

The bank, which was formed in September, 1986, to service mostly medium-sized businesses, said its deposits as of June 30 totaled $34 million, up 47% from $23.1 million a year earlier. The bank's assets climbed 41% to $39.1 million from $27.8 million.

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