American Pacific State Bank has approved a 5% stock dividend and a cash dividend of 10 cents per share to holders of record as of Dec. 10.
Chief Executive Frank Ures Jr. said, "The bank's strong performance throughout 1997 . . . combined with the issuance of dividends are both working to increase the price and appeal of our bank's stock."
American Pacific State Bank, based in Sherman Oaks, is a major funder of Small Business Administration loans, with assets of $350 million.