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Pacific Bank

BUSINESS
April 11, 1995
Charter Pacific Bank, a three-branch bank based in Agoura Hills, reported a turnaround in earnings and a sharp rise in total assets for 1994. The bank reported a profit of $310,000 for 1994, compared to a year-earlier loss of $182,000. Assets on Dec. 31 totaled $74 million, up nearly 11% from the end of 1993, the company said. Michael Ward, chief executive of Charter Pacific, attributed the improved results to "a significantly improved loan portfolio and controlled costs."
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BUSINESS
April 1, 1989
Security Pacific National Bank's 552 branches will be open from 9 a.m. to 1 p.m. on Saturdays, beginning April 15. The announcement Friday by the state's second largest bank came a day after Bank of America, the state's largest, said its 850 branches would be open longer hours. B of A branches will be open from 9 a.m. to 1 p.m. on Saturdays starting April 15 and until 6 p.m. on Fridays starting April 14. Earlier in March, Security Pacific extended hours at its branches to 7 p.m.
BUSINESS
June 27, 2009 | E. Scott Reckard
Regulators shut down community lenders Mirae Bank in Los Angeles' Koreatown district and MetroPacific Bank in Irvine on Friday, saying both were operating with dangerously low capital cushions against losses. This brought the number of bank failures this year in California to six. The five branches of Mirae Bank will reopen Monday as part of Wilshire State Bank, a larger Koreatown bank that will assume all $362 million of Mirae's deposits. Wilshire, whose parent company is Wilshire Bancorp Inc.
CALIFORNIA | LOCAL
December 12, 2000
Charter Pacific Bank of Agoura Hills reported net income for the third quarter that ended Sept. 30 of $123,000, compared with $599,000 for the same period last year. The bank reported total assets of $12.7 million, compared with $12 million.
BUSINESS
October 17, 1989
Charter Pacific Bank of Agoura Hills said it received regulatory approval for a 9 for 5 stock split, payable Nov. 1 to shareholders of record Oct. 19. Charter Pacific, with assets of $58 million, earned $482,000 in the second quarter that ended June 30.
BUSINESS
August 6, 1991
Charter Pacific Bank, a three-branch bank based in Agoura Hills, said its second-quarter profit rose 53% to $505,000 from $330,000 a year earlier. Six-month earnings increased 8% to $823,000 from $760,000 in 1990's first half. The bank also reported that its assets grew to $75.2 million as of June 30, compared to $70.8 million a year earlier.
BUSINESS
February 4, 1992
Charter Pacific Bank in Agoura Hills reported that its net income for its fourth quarter that ended Dec. 31 more than doubled to $291,000 from $140,000 a year earlier. For all of 1991, the three-branch bank earned $1.71 million, a 32% increase from $1.29 million in the previous year. Charter Pacific said the improved results reflect its focus on generating fee income rather than expanding its lending operations.
BUSINESS
April 30, 1996
American Pacific State Bank in Sherman Oaks posted an 11% rise in first-quarter net income. The bank, which has eight offices in the San Fernando and Santa Clarita valleys, had a profit of $653,000 in the quarter that ended March 31, compared to $577,000 in the same period a year ago. Frank Ures Jr., the bank's chief executive, said operating expenses have improved and he expects the bank to have record earnings in 1996 due to strong loan demand.
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