American Pacific’s Parent Shows 1st-Quarter Increase
- Share via
APSB Bancorp, parent of American Pacific State Bank, said its first-quarter profit jumped 45% from a year earlier.
Net income at the North Hollywood institution rose to $304,000, or 32 cents a share, from $209,000, or 22 cents a share, a year earlier. The company’s assets as of March 31 totaled $144 million.
APSB attributed the higher earnings to an increase in loans outstanding and a wider net interest margin, which is the difference between what APSB receives in interest on its loans and the interest it pays on deposits.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
