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Valencia National Bank

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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CALIFORNIA | LOCAL
June 3, 1994 | DOUGLAS ALGER, SPECIAL TO THE TIMES
Valencia National Bank trustees this week praised founding President Robert Manley for helping the institution get off the ground, expand to a second and third branch and make a profit during the past seven years. Then, they fired him. Board chairman Lou Garasi on Thursday confirmed that Manley was terminated during a special meeting of the board of directors Wednesday. He said the board had been concerned about Manley's management for the last two years.
CALIFORNIA | LOCAL
May 27, 1994 | MARK SABBATINI, SPECIAL TO THE TIMES
In a surprise move, the president of the Santa Clarita Valley's only local bank since its founding seven years ago has been asked to resign. Robert Manley, one of the founders of Valencia National Bank, was unanimously asked to step down Tuesday by the institution's board of directors, who cited concerns about his management abilities. However, Manley attributed his ouster to "a fairly hard course" he had taken over the collection of loans by the bank to past and present board members.
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.
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.
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.
CALIFORNIA | LOCAL
June 2, 1994 | MARK SABBATINI, SPECIAL TO THE TIMES
The president of Valencia National Bank apparently will be fired this week after failing to submit his resignation before a deadline set by the board of directors. Robert Manley, 51, one of the bank's founders when it opened in 1987, accused the board last week of asking for his resignation because he was getting tough about collecting loan payments from present and former board members.
CALIFORNIA | LOCAL
March 6, 1992 | TRACEY KAPLAN, TIMES STAFF WRITER
Two Santa Clarita City Council members were disqualified Thursday from voting on a controversial hillside preservation ordinance because they have a financial stake in a local bank that finances development in hilly areas. The disqualification of Jan Heidt and Howard (Buck) McKeon leaves uncertain the future of the ordinance, which would strictly limit development on the city's many hillsides and ridgelines. City Atty.
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.
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