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BUSINESS
December 24, 1996
American Pacific State Bank has announced a 5% stock dividend plus a cash dividend of 10 cents per share to be paid to shareholders of record as of Dec. 10. American Pacific, which is headquartered in Sherman Oaks, has grown in recent years in part because it opened new branches in Van Nuys, Valencia and Northridge. The bank's total assets are now at a record $315 million.
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BUSINESS
February 3, 1998
American Pacific State Bank, headquartered in Sherman Oaks, posted a 13% increase in profits during its fourth quarter, while profits for all of 1997 rose by 19%. In its fourth quarter, American Pacific posted a net profit of $1.2 million, compared with$1.06 million a year earlier. For the full year, profits climbed to a record $3.5 million, up from $2.9 million in 1996. As of Dec. 31 the bank's assets were $345 million, up from $311 million a year earlier.
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BUSINESS
October 31, 1995
American Pacific State Bank, based in Sherman Oaks, reported that its third-quarter earnings jumped 13% to $649,000, compared to a $576,000 profit a year earlier. President Frank J. Ures Jr. attributed the results to "the continued, consistent improvement in the Southern California economy, coupled with a strong loan demand." For the nine months ending Sept. 30, the bank posted a profit of $1.66 million, up 14% from $1.46 million a year earlier. As of Sept.
BUSINESS
December 16, 1997
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.
BUSINESS
July 14, 1992
American Pacific State Bank in Sherman Oaks, the nation's sixth-largest generator of Small Business Administration loans, said its earnings rose 9% in the second quarter ended June 30, to $557,000 from $509,000 a year earlier. The bank's six-month profit was $1.1 million, a 9% gain from $1.01 million in 1991's first half. American Pacific attributed its earnings growth to increased fee income, strong demand for SBA loans and cost controls.
BUSINESS
April 9, 1991
American Pacific State Bank in Sherman Oaks reported that its net income for the first quarter ended March 31 climbed 15% to $504,000 from $437,000 a year ago. The bank had assets on March 31 of $205 million, 7% more than a year before, when it had assets of $192 million. The bank attributed the improved results to demand for loans--in particular, federal Small Business Administration loans--as well as controls on expenses.
BUSINESS
February 3, 1987
American Pacific State Bank said its fourth-quarter earnings rose to $215,116, or 27 cents a share, from $22,056, or 3 cents a share, a year earlier. For the year, the bank's earnings rose 234%, to $1 million, or $1.27 a share, from $300,550, or 38 cents a share, in 1985. The North Hollywood bank's performance for the year represents a sharp turnaround from 1985, when it was struggling to recover from small-business and real-estate loans that went sour.
BUSINESS
April 30, 1996
American Pacific State Bank in Sherman Oaks posted an 11% rise in first-quarter net income. The bank, which has eight offices in the San Fernando and Santa Clarita valleys, had a profit of $653,000 in the quarter that ended March 31, compared to $577,000 in the same period a year ago. Frank Ures Jr., the bank's chief executive, said operating expenses have improved and he expects the bank to have record earnings in 1996 due to strong loan demand.
BUSINESS
August 5, 1997
American Pacific State Bank reported a 12% increase in its second-quarter earnings. The Sherman Oaks-based bank had a net income of $590,000 in the quarter that ended June 30, compared with a net income of $525,000 a year earlier. For the six months, the bank reported a profit of $1.3 million, up 8% from $1.2 million last year.
BUSINESS
July 30, 1996
American Pacific State Bank in Sherman Oaks reported a 20% increase in its second-quarter earnings. In the three months that ended June 30, the bank had net income of $525,000, up from $436,000 a year earlier. For the six-month period, American Pacific had a profit of $1.18 million, a 16% gain from $1.01 million in net income in the first half of 1995. The bank attributed the gains to an improved economy and real estate market.
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