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Pacific Bank

BUSINESS
August 5, 1997
American Pacific State Bank reported a 12% increase in its second-quarter earnings. The Sherman Oaks-based bank had a net income of $590,000 in the quarter that ended June 30, compared with a net income of $525,000 a year earlier. For the six months, the bank reported a profit of $1.3 million, up 8% from $1.2 million last year.
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BUSINESS
July 15, 1997
PNB Financial Group, parent of Pacific National Bank, reported record net income of $1.2 million, or 49 cents a share, for the second quarter, 9% higher than the $1.1 million, or 46 cents a share, posted a year ago. First-half net income rose 17% to $2.1 million, or 90 cents a share, from $1.8 million, or 76 cents a share. Total assets increased 6% to $205.2 million from $194.4 million. Smartflex Systems Inc.
BUSINESS
January 22, 1997
The Newport Beach bank, a wholly owned subsidiary of PNB Financial Group, reported net income of $3.6 million, or $1.53 a share, for 1996, 80% higher than the $2 million, or 91 cents a share, recorded for 1995. Total assets increased 14%, to $198.6 million, from $174.8 million.
BUSINESS
December 24, 1996
American Pacific State Bank has announced a 5% stock dividend plus a cash dividend of 10 cents per share to be paid to shareholders of record as of Dec. 10. American Pacific, which is headquartered in Sherman Oaks, has grown in recent years in part because it opened new branches in Van Nuys, Valencia and Northridge. The bank's total assets are now at a record $315 million.
BUSINESS
January 30, 1996
American Pacific State Bank, based in Sherman Oaks, posted a 47% increase in earnings in its fourth quarter, and a 22% earnings jump for all of 1995. In the quarter that ended Dec. 31, American Pacific earned $659,000, compared to a $449,000 profit in the same period a year earlier. Profits last year rose to $2.3 million, up from $1.9 million in 1994. The bank's assets were $287 million at year-end, up 5% from $274 million in December 1994. Frank J. Ures Jr.
BUSINESS
January 9, 1996
Charter Pacific Bank, based in Agoura Hills, posted a $1.4-million profit for the year ending Dec. 31, after losing $1.6 million in 1994. "After significantly reducing problem assets . . . our loan portfolio has been the main contributor to the bank's 1995 turnaround," Chief Executive Michael Ward said. Charter Pacific has assets of $80 million.
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