Net Income Up 54% for El Camino Bancorp, Bank

El Camino Bancorp and its subsidiary, El Camino Bank of Anaheim, posted net income of $1.27 million for 1985, a 54% increase from the $825,000 earned in the previous year. Net income for the fourth quarter more than doubled to $303,000 from $126,000.

Stanley J. Pawlowski, the bank’s chairman, said the earnings increase was the result of lower interest costs and “a major reduction in non-performing loans and operating expenses.” He predicted that the 16-year-old bank would increase deposits and assets this year and “reflect better-than-industry-average profits.”

The consolidated financial statement showed that, as of Dec. 31, the bank’s assets increased 6.5% to $93.5 million from $87.8 million a year earlier, total deposits rose 4.6% to $83.3 million from $79.6 million, and total loans jumped 10.3% to $59.9 million from $54.3 million.

The bank’s capital and reserves of $8.5 million represented 9.1% of assets, well above the 7% minimum required for most independent banks by the State Banking Department and the Federal Deposit Insurance Corp.