American Pacific Bank's Profit Up 11% in Quarter - Los Angeles Times
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American Pacific Bank’s Profit Up 11% in Quarter

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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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As of March 31, the bank’s total assets were $289 million, up 3% from $280 million a year earlier.

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