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Valencia National Bank

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BUSINESS
October 17, 1989
Valencia National Bank reported that its net income increased 301% for the third quarter that ended Sept. 30 to $125,044 from $31,207 a year earlier. The Valencia-based bank said its assets increased 38% to $45 million as of Sept. 30 from $32.5 million the year before.
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BUSINESS
April 29, 1997
Valencia National Bank posted a 15% rise in its first quarter earnings. The bank had net income of $127,251 for the quarter that ended March 31, compared to net income of $111,128 a year earlier. Total assets as of March 31 were $103.8 million, up 18% from $88.3 million a year ago. The bank also said that its allowance for loan losses rose to $898,000 as of March 31, up from $698,000 a year earlier. The bank noted that in this same period its total loan volume rose 50% to $50.
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BUSINESS
January 23, 1990
Valencia National Bank said its net income for the fourth quarter ended Dec. 31 increased 35% to $113,070 from $83,932 a year earlier. The Valencia-based bank's total assets as of Dec. 31 were $50.9 million, up 47% from $34.6 million a year before. Net income for the bank, which is 2 years old, increased more than thirty-fold for the full year 1989, to $500,965 compared with $15,725 in 1988.
BUSINESS
July 30, 1996
Valencia National Bank posted a 20% rise in its second-quarter profit and a 6% rise in profit for the six months that ended June 30. The Valencia-based bank had net income of $121,249 in the second quarter, up from $101,399 a year ago. For the six months, the bank posted net income of $232,377, compared to a $218,553 profit in the same period a year earlier. Total assets as of June 30 increased to $89.1 million, up 10% from a year ago.
BUSINESS
July 16, 1991
Valencia National Bank said its earnings rose 22% for the second quarter that ended June 30, to $126,530 from $103,409 for the same period a year ago. The bank said that, for the year to date, profits increased 47%, to $238,837 from $162,809 during the first half of 1990. Assets increased 18%, to $60.8 million from $51.7 million posted a year earlier, the bank said, and customer deposits grew to $54.4 million, an 18% increase over the second quarter of last year.
BUSINESS
April 18, 1995
Valencia National Bank reported a more than twofold increase in earnings for the first quarter that ended March 31. The three-branch bank, based in Santa Clarita, reported net income of $117,154 for the first quarter, compared with $51,766 in the same three-month period a year earlier. Total assets increased to $77.1 million as of March 31, up slightly from $76.4 million a year earlier.
BUSINESS
January 30, 1996
Valencia National Bank posted a profit in its fourth quarter, compared to a loss a year earlier, while its net income for all of 1995 jumped ninefold. The three-branch bank, based in Valencia, posted a fourth-quarter profit of $128,807, compared to a loss of $184,526 in the same period a year earlier. For the full year, Valencia National's net income jumped to $412,687, compared to a $46,379 profit in 1994. Assets at the end of the year climbed 3% to $84.8 million, up from $82.
BUSINESS
August 8, 1995
Valencia National Bank, a three-branch bank based in Santa Clarita, reported a 34% increase in earnings for the second quarter ended June 30. The 8-year-old bank posted a profit of $101,399 for the quarter, compared to $75,647 in the corresponding period a year earlier. For the first six months of the year, the company reported earnings of $218,553, up 72% from $127,413 a year earlier. Assets totaled $80.8 million at the end of the second quarter, up 4% from $77.4 million a year earlier.
BUSINESS
April 18, 1995
Valencia National Bank reported a more than twofold increase in earnings for the first quarter that ended March 31. The three-branch bank, based in Santa Clarita, reported net income of $117,154 for the first quarter, compared with $51,766 in the same three-month period a year earlier. Total assets increased to $77.1 million as of March 31, up slightly from $76.4 million a year earlier.
CALIFORNIA | LOCAL
November 10, 1994 | MARK SABBATINI, SPECIAL TO THE TIMES
Both sides claimed victory after the first courtroom battle Wednesday between a Santa Clarita bank and its former president who said he was fired because he tried to collect delinquent loans made to board members. Robert Manley, the former president, filed a $2-million civil lawsuit against Valencia National Bank, which he co-founded in 1987.
CALIFORNIA | LOCAL
September 16, 1994 | MARK SABBATINI, SPECIAL TO THE TIMES
Valencia National Bank directors have asked a court to dismiss a $2-million wrongful termination lawsuit filed by the bank's former president. Bank officials said the suit, filed by Robert Manley, 51, is full of legal holes and unsupported accusations, according to court documents obtained Thursday. Manley, one of the founders of Santa Clarita's only local bank, contends he was fired June 1 because he was cracking down on delinquent loans to board members. Bank officials have admitted losing hundreds of thousands of dollars in 1993 because of defaulted loans to board members, four of whom resigned as a result.
BUSINESS
August 9, 1994
Valencia National Bank, based in the Santa Clarita Valley, reported net earnings of $75,647 for the second quarter that ended June 30, down 45% from earnings of $136,796 reported for the same three-month period of 1993. For its six-month period, Valencia reported net earnings of $127,413 compared with a loss of $141,009 posted a year earlier. The three-branch bank reported total assets of $77.7 million June 30, up 9% from $70.9 million a year earlier.
CALIFORNIA | LOCAL
August 5, 1994 | DOUGLAS ALGER, SPECIAL TO THE TIMES
A Los Angeles man with a 24-year career in banking and business operations was named president of Valencia National Bank on Thursday, replacing the founding president, who was ousted June 1. John M. Reardon, an executive officer for The Ram Cos., is scheduled to take over the post Aug. 22. The Ram Cos., based in Oklahoma, is a conglomerate of firms that include manufacturing and financial operations.
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