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American West Bank

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BUSINESS
October 22, 1996
American West Bank, based in Encino, posted a 55% jump in its nine-month earnings. For the period that ended Sept. 30, American West posted a $440,385 profit, compared to net income of $283,306 a year earlier. Assets increased 14% to $65.4 million from a year earlier. Last month, American West Bank agreed to merge with the Bank of Los Angeles and that deal is expected to close in the first quarter of 1997. American West Bank's Chief Executive John Feldman will be CEO of the newly merged bank.
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BUSINESS
February 4, 1997
American West Bank posted an 11% increase in its fourth quarter net income while its full year's net earnings jumped 34%. The Encino-based bank posted a fourth quarter profit of $279,020, up from a $252,326 profit in the same quarter a year earlier. Last year, the bank's profits rose to $719,405, up from a profit of $535,633 in 1995. As of Dec. 31, the bank's total assets were $67.1 million, up 17% from a year earlier.
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BUSINESS
May 6, 1986
Encino-based American West Bank reported earnings for its first quarter ended March 31 of $56,960, or 9 cents a share, versus a loss during the same period in 1985 of $39,577, or 6 cents a share. The 2-year-old bank had assets of $34.9 million on March 31, up 74% from a year earlier and 7% higher than at the end of last year. American West Bank had a net worth at the end of the quarter of $5.9 million, up 4% from March 31, 1985. Robert W.
BUSINESS
January 28, 1997
American West Bank of Encino said its fourth-quarter profit was $279,020, up 11% from $252,326 in the same period last year. For the year that ended Dec. 31, the bank's profit was $719,405, up 34% from $535,633 last year. Total assets at the end of 1996 were $67 million, up 17% from $57.5 million the previous year. Both loans and deposits increased in 1996, the bank said. The bank also said that it will merge with Bank of Los Angeles in March, provided shareholders approve the deal.
BUSINESS
October 10, 1989
American West Bank announced that its earnings for the third quarter that ended Sept. 30 grew 45% to $224,185 from $154,272 a year earlier. Meanwhile, total assets at the Encino-based bank increased 5% to $58 million from $55.5 million. American West said that for the nine months that ended Sept. 30, earnings increased 26% to $478,515 from $380,028.
BUSINESS
February 4, 1997
American West Bank posted an 11% increase in its fourth quarter net income while its full year's net earnings jumped 34%. The Encino-based bank posted a fourth quarter profit of $279,020, up from a $252,326 profit in the same quarter a year earlier. Last year, the bank's profits rose to $719,405, up from a profit of $535,633 in 1995. As of Dec. 31, the bank's total assets were $67.1 million, up 17% from a year earlier.
BUSINESS
July 17, 1990
American West Bank in Encino said its second-quarter profit rose 26% from a year earlier, to $204,323 from $162,576. For the first half of 1990, American West's earnings totaled $409,211, up 61% from $254,094 in the same quarter of last year. The bank, which caters to local businesses, had assets totaling $66.4 million as of June 30, up 23% from $54.1 million a year earlier.
BUSINESS
July 23, 1996
American West Bank reported a $227,184 profit for the six months that ended June 30, a 67% increase from its $135,834 in net income in the same period of 1995. The Encino-based bank said the improvement resulted from growing income and reduced expenses.
BUSINESS
July 30, 1996
American West Bank in Encino has agreed to merge with Bank of Los Angeles, another small community bank based in West Hollywood. The combined institution would have assets of more than $189 million, and five offices in the Los Angeles area. The merger will be completed by the issuance of one share of Bank of Los Angeles stock for each outstanding share of American West Bank. John J. Feldman, American West's president and chief executive, will become president of the new institution.
BUSINESS
October 22, 1996
American West Bank, based in Encino, posted a 55% jump in its nine-month earnings. For the period that ended Sept. 30, American West posted a $440,385 profit, compared to net income of $283,306 a year earlier. Assets increased 14% to $65.4 million from a year earlier. Last month, American West Bank agreed to merge with the Bank of Los Angeles and that deal is expected to close in the first quarter of 1997. American West Bank's Chief Executive John Feldman will be CEO of the newly merged bank.
BUSINESS
July 30, 1996
American West Bank in Encino has agreed to merge with Bank of Los Angeles, another small community bank based in West Hollywood. The combined institution would have assets of more than $189 million, and five offices in the Los Angeles area. The merger will be completed by the issuance of one share of Bank of Los Angeles stock for each outstanding share of American West Bank. John J. Feldman, American West's president and chief executive, will become president of the new institution.
BUSINESS
July 23, 1996
American West Bank reported a $227,184 profit for the six months that ended June 30, a 67% increase from its $135,834 in net income in the same period of 1995. The Encino-based bank said the improvement resulted from growing income and reduced expenses.
BUSINESS
February 6, 1996
American West Bank posted a $535,633 profit for 1995, compared with a loss of $31,245 for 1994. In the fourth quarter, the Encino-based bank posted a $252,326 profit, up 12-fold from its $20,381 profit in the same period a year earlier. The quarterly profit includes a $90,000 adjustment to income taxes due to profits from some deferred tax assets. Total assets at year-end were $57.4 million, down 7% from $61.9 million in December 1994.
CALIFORNIA | LOCAL
March 4, 1995 | NICHOLAS RICCARDI
The former chief financial officer of American West Bank was sentenced to 18 months in federal prison and ordered to pay back the $305,192.88 he swindled from the institution over a four-year period. Michael Leon, 37, of Riverside County, had faced up to 90 years in prison after pleading guilty to his crimes, but he got a more lenient sentence from U. S. District Judge Mariana Pfaelzer because he cooperated with prosecutors, authorities said.
CALIFORNIA | LOCAL
September 27, 1994 | JEANNETTE REGALADO, TIMES STAFF WRITER
The former chief financial officer of American West Bank on Monday pleaded guilty to three counts of bank fraud, authorities said. Michael S. Leon, 37, of Riverside County admitted to FBI investigators that he embezzled more than $280,000 from the San Fernando Valley bank over a four-year period, said Special Assistant U.S. Atty. Steven Jay Katzman. "It is unusual for this sort of fraud to go undetected for that long," Katzman said.
BUSINESS
July 17, 1990
American West Bank in Encino said its second-quarter profit rose 26% from a year earlier, to $204,323 from $162,576. For the first half of 1990, American West's earnings totaled $409,211, up 61% from $254,094 in the same quarter of last year. The bank, which caters to local businesses, had assets totaling $66.4 million as of June 30, up 23% from $54.1 million a year earlier.
BUSINESS
October 10, 1989
American West Bank announced that its earnings for the third quarter that ended Sept. 30 grew 45% to $224,185 from $154,272 a year earlier. Meanwhile, total assets at the Encino-based bank increased 5% to $58 million from $55.5 million. American West said that for the nine months that ended Sept. 30, earnings increased 26% to $478,515 from $380,028.
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