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BUSINESS
August 2, 2005 | From a Times Staff Writer
Los Angeles-based Wilshire Bancorp. said Monday that it had reached a deal to acquire Liberty Bank of New York for $15.7 million in cash and stock. Wilshire, the holding company of Wilshire State Bank, had assets of about $1.5 billion as of June 30. Liberty had assets of about $56 million. Both banks have roots in their respective Korean communities, Wilshire said.
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BUSINESS
March 15, 2010 | By Nathaniel Popper
In the current wave of failures of federally insured banks, none occurred in New York City until late last week, when two small Manhattan financial institutions went under, with each collapse notable in its own way. The chief executive of Park Avenue Bank, which was seized by regulators Friday, was arrested Monday, charged with embezzlement, bribery and fraud, including lying in an application for the Treasury Department's Troubled Asset Relief...
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BUSINESS
September 12, 2005 | Thomas S. Mulligan, Times Staff Writer
Alden J. McDonald Jr. swept his hand across the upper right side of the New Orleans city map, indicating a broad area south of Lake Pontchartrain on the city's eastern side. "This is our market," he said, "and it's all underwater." McDonald is president and chief executive of New Orleans-based Liberty Bank & Trust, the South's largest African American-owned bank, whose overwhelmingly black clientele is concentrated in districts that were among those hardest hit by Hurricane Katrina.
BUSINESS
September 12, 2005 | Thomas S. Mulligan, Times Staff Writer
Alden J. McDonald Jr. swept his hand across the upper right side of the New Orleans city map, indicating a broad area south of Lake Pontchartrain on the city's eastern side. "This is our market," he said, "and it's all underwater." McDonald is president and chief executive of New Orleans-based Liberty Bank & Trust, the South's largest African American-owned bank, whose overwhelmingly black clientele is concentrated in districts that were among those hardest hit by Hurricane Katrina.
BUSINESS
November 8, 2000
The Huntington Beach financial institution reported net income of $128,040 for the third quarter, contrasted with a loss of $228,727 for last year's third quarter. Total revenue tripled to $752,471 for the quarter from $250,369. Total assets climbed 80% to $30 million at the end of September from $19.4 million a year earlier.
BUSINESS
February 12, 1985
The continued successes of its private commercial lending and Small Business Administration loan programs helped Liberty National Bank of Huntington Beach boost 1984 earnings to $530,632, a 12.3% increase from $472,484 posted a year earlier, the bank reported late last week. Liberty was the six largest SBA lender of all commercial banks in the nation last year, according to Philip S. Inglee, president of the 2 1/2-year-old bank. The bank ended 1984 with $80.
BUSINESS
April 14, 2001
Pacific Liberty Bank in Huntington Beach on Friday reported net income of $150,000, or 27 cents a share, for the first quarter, contrasted with a net loss of $22,000, or 4 cents a share, for last year's first three months. Quarterly revenue grew 74% to $883,000. Assets rose 62% to $41.6 million at the end of March from a year earlier.
BUSINESS
December 3, 1999 | EDMUND SANDERS, Edmund Sanders covers financial institutions and fraud for The Times. He can be reached at (714) 966-5811 and at edmund.sanders@latimes.com
Fledgling Pacific Liberty Bank has found itself caught in the middle of a community flap over a proposed Wal-Mart retail project in Huntington Beach. It seems that developer George Argyros, who wants to build a Wal-Mart store in Huntington Beach, invested about $100,000 in Pacific Liberty earlier this year, when the tiny bank was just starting. The investment came shortly after the city of Huntington Beach gave his Wal-Mart project the green light.
BUSINESS
July 8, 1997
Philip S. Inglee, who has been president of Liberty National Bank since it opened 15 years ago, is leaving to pursue other opportunities, it was announced Monday. Liberty National Bank was recently consolidated into Eldorado Bank, along with several other community-based financial institutions.
BUSINESS
October 24, 1986
Liberty National Bank said third-quarter net income was $236,092, up 32% from $178,971. Nine-month net earnings of $491,908 were more than 2.5 times the $185,462 posted the year before. Liberty National Bank, with corporate banking offices in Huntington Beach and Los Angeles, is the leading producer of Small Business Administration-guaranteed loans in Southern California.
BUSINESS
August 2, 2005 | From a Times Staff Writer
Los Angeles-based Wilshire Bancorp. said Monday that it had reached a deal to acquire Liberty Bank of New York for $15.7 million in cash and stock. Wilshire, the holding company of Wilshire State Bank, had assets of about $1.5 billion as of June 30. Liberty had assets of about $56 million. Both banks have roots in their respective Korean communities, Wilshire said.
BUSINESS
February 21, 2004 | From Bloomberg News
Center Financial Corp., which owns banks in Southern California, plans to buy Liberty Bank of New York for undisclosed terms to expand into another market with a large Korean American population. Liberty operates one bank branch in Manhattan and one in Flushing, N.Y. The company has assets of $73.5 million, Los Angeles-based Center Financial said. Center Financial caters to Korean Americans and believes expanding into New York will bring new customers, especially small-business owners.
BUSINESS
April 14, 2001
Pacific Liberty Bank in Huntington Beach on Friday reported net income of $150,000, or 27 cents a share, for the first quarter, contrasted with a net loss of $22,000, or 4 cents a share, for last year's first three months. Quarterly revenue grew 74% to $883,000. Assets rose 62% to $41.6 million at the end of March from a year earlier.
BUSINESS
January 26, 2001
The Huntington Beach bank reported net income of $227,000, or 40 cents a share, for the fourth quarter, contrasted with a net loss of $175,000, or 31 cents a share, for the same quarter of 1999. Net income for the year totaled $406,000, or 72 cents a share, contrasted with a year-earlier net loss of $499,000, or 89 cents a share, for 1999. Total assets grew 78% to $38 million.
BUSINESS
December 3, 1999 | EDMUND SANDERS, Edmund Sanders covers financial institutions and fraud for The Times. He can be reached at (714) 966-5811 and at edmund.sanders@latimes.com
Fledgling Pacific Liberty Bank has found itself caught in the middle of a community flap over a proposed Wal-Mart retail project in Huntington Beach. It seems that developer George Argyros, who wants to build a Wal-Mart store in Huntington Beach, invested about $100,000 in Pacific Liberty earlier this year, when the tiny bank was just starting. The investment came shortly after the city of Huntington Beach gave his Wal-Mart project the green light.
BUSINESS
July 8, 1997
Philip S. Inglee, who has been president of Liberty National Bank since it opened 15 years ago, is leaving to pursue other opportunities, it was announced Monday. Liberty National Bank was recently consolidated into Eldorado Bank, along with several other community-based financial institutions.
BUSINESS
July 13, 1995
Liberty National Bank of Huntington Beach posted second-quarter profit of $482,485, or 49 cents a share, contrasted with a net loss of $671,137, or 69 cents a share, for the second quarter in 1994. Profit for the first half was $574,730, or 59 cents a share, contrasted with a net loss of $760,696, or 78 cents a share, for the comparable six months last year. Year-to-date total assets were $140.9 million, down 1% from the year-earlier total of $142.7 million.
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