American Pacific State Bank

American Pacific State Bank in Sherman Oaks reported a 9% increase in its first-quarter profit to $549,000 from $504,000 a year earlier. The bank, the nation's sixth-largest generator of federal Small Business Administration loans, said the profit gain in the quarter that ended March 31 was due to its strong loan portfolio, growing demand for loans and cost controls.

City National Bank has acquired American Pacific State Bank, Sherman Oaks, in a cash transaction. The company paid approximately $91 million at $15.65 per share for the 5.8 million shares outstanding. City National Bank, Los Angeles, is a federally chartered $6.7-billion commercial bank with 49 offices throughout Southern California, including American Pacific State Bank's eight San Fernando Valley branches.

City National Bank has acquired American Pacific State Bank, Sherman Oaks, in a cash transaction. The company paid approximately $91 million at $15.65 per share for the 5.8 million shares outstanding. City National Bank, Los Angeles, is a federally chartered $6.7-billion commercial bank with 49 offices throughout Southern California, including American Pacific State Bank's eight San Fernando Valley branches.

American Pacific State Bank, Sherman Oaks, announced earnings of $771,000 for the second quarter ended June 30, up 19% from the $650,000 reported for the same quarter last year. The bank said assets were $442 million as of June 30.

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.

American Pacific State Bank, Sherman Oaks, announced earnings of $771,000 for the second quarter ended June 30, up 19% from the $650,000 reported for the same quarter last year. The bank said assets were $442 million as of June 30.

Beverly Hills-based City National Corp. said it will buy American Pacific State Bank, based in Sherman Oaks, for $89 million in cash to expand in the San Fernando Valley area. City National will pay $15.65 for each of American Pacific's 5.5 million shares outstanding. American Pacific stock was unchanged at $12.88 in over-the-counter trading Monday. City National said the price represents 2.75 times American Pacific's book value.

Sherman Oaks-based American Pacific State Bank posted a third-quarter profit of $1 million, or 19 cents per share, in line with last year's earnings for the period, the company reported. For the first nine months of the year, the Valley's largest independent bank reported a profit of $2.53 million, up 10% from the $2.29 million posted for the year-ago period. Loan growth increased by 23% for the bank, which has $375 million in assets.

Sherman Oaks-based American Pacific State Bank announced second-quarter profits of $650,000, up 10% from the same quarter last year. Frank J. Ures Jr., president and chief executive of the eight-branch financial institution, said "earnings continue to increase in direct proportion to the bank's asset growth. Strong earnings allowed the bank to declare and pay a 14-cent cash dividend in May."

American Pacific State Bank posted a 24% climb in its first-quarter net income. The bank had net income of $875,000 in the quarter that ended March 31, compared to a profit of $705,000 in the same period a year earlier. The bank's assets at the end of the first quarter rose to a record $350 million, up 12% from $312 million a year ago. Frank Ures Jr.

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.

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.

American Pacific State Bank reported a 44% increase in its third-quarter earnings. The Sherman Oaks-based bank had a net income of $1 million in the quarter that ended Sept. 30, compared with a net income of $695,000 a year earlier. For the nine months ending June 30, the bank reported a net income of $2.3 million, up 21% from $1.9 million in 1996.

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.