July 27, 1993
American Pacific State Bank in Sherman Oaks said its second-quarter profit fell 40%, to $333,000 from $554,000 a year earlier. Frank Ures, president and chief executive officer, attributed the decline mainly to a temporary shutdown at the Small Business Adminstration because the federal agency ran out of money. American Pacific is one of the nation's leading generators of SBA loans.
July 28, 1998
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."
December 27, 1994
The Small Business Administration's announcement last week that it will impose a $500,000 ceiling on loans offered through its popular loan guarantee program was seen as a serious setback by some San Fernando Valley banks. "We're going to lose an awful lot of business," said Frank Ures, chief executive at American Pacific State Bank in Sherman Oaks, one of the largest SBA lenders in Southern California.
October 25, 1994
American Pacific State Bank reported earnings of $576,000 in the September quarter, up 21% from $476,000 in the same three-month period a year earlier. For its nine-month period, the bank reported net income of $1.46 million, a 6% increase over a year earlier, when the bank posted earnings of $1.37 million. Frank J. Ures Jr., chief executive of the Sherman Oaks-based bank, attributed the results to "improved net interest margins, substantial deposit growth and a tight rein over expenses."
July 29, 1986 |
For most of the leading banks and savings and loans based in the San Fernando Valley area, the second quarter presented a win-win situation: they either reported big profit increases right away or instead stashed away extra money to help out down the road. And, in a couple of cases, they did both. North Hollywood-based APSB Bancorp, parent of American Pacific State Bank, led the way in earnings growth from the same period last year. Its net income was up 193.
March 2, 1993 |
In pondering 1992, the area's banking and thrift industries can take heart in one fact: It's over. In what proved to be a dismal year for most local banks, and savings and loans, six of the eight largest financial institutions in the San Fernando Valley and Ventura County posted losses or lower profits in 1992.
January 28, 1992 |
As banks go these days, American Pacific State Bank in Sherman Oaks is downright dull. It's not bogged down by speculative real estate loans. Its assets have grown less than 10% annually for the past six years. A typical loan might be $250,000 to a small aircraft parts manufacturer hoping to build a new warehouse or to a car-detailing business in need of better equipment. But that's just the way Frank J. Ures Jr., American Pacific's founder, president and chief executive, likes it.
April 30, 1996 |
Most San Fernando Valley area banks reported solid profits and strengthening balance sheets in the most recent quarter thanks mostly to banking services other than real estate. Battered by the real estate slump of the last several years, local banks are switching from property loans to commercial loans and expanding new retail banking services for checking and savings customers.
December 3, 1991 |
Major banks and savings and loans in the San Fernando Valley and Ventura County areas turned in a dismal performance for the third quarter, with all but one posting losses or lower earnings as problem loans and real-estate woes continued to take their toll. Three of the region's nine largest financial institutions lost money during the quarter, contrasted with profits a year earlier, and five had lower earnings than in the third quarter last year.