October 6, 1992
American Pacific State Bank said its third-quarter profit rose 6% from a year earlier, to $641,000 from $604,000. The Sherman Oaks-based bank, which specializes in U.S. Small Business Administration loans, said the gain in the quarter ended Sept. 30 reflected its "active loan program, strong net interest margin and tight reign over expenses." The net-interest margin measures how much the bank earns in interest on its loans minus the interest it pays on deposits.
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."
June 8, 1999 |
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.
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."
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.
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.
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.