APSB Bancorp’s Profit Rises 30% in 3rd Quarter
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APSB Bancorp, the North Hollywood parent of American Pacific State Bank, posted a 30% gain in third-quarter profit compared with a year earlier.
The company said net income for the quarter, which ended Sept. 30, rose to $371,000, or 39 cents a share, from $285,000, or 30 cents a share, a year ago. For the first nine months of 1988, APSB’s earnings climbed to $946,000, or $1 a share, from $724,000, or 70 cents a share.
The bank attributed the gains to higher loan demand, tight controls over expenses and higher margins between the interest it earned on loans and the interest it paid for deposits.
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