Levy Bancorp Shows 12% Increase in Profit

Levy Bancorp said its first-quarter profit rose 12% from a year earlier, to $1.65 million from $1.47 million.

The Ventura-based parent of Bank of A. Levy said the higher earnings partly reflected an increase in Levy’s net interest income--the amount of interest income on its loans, minus the interest it paid on deposits--to $8.3 million in the first quarter from $7.9 million a year earlier.

Levy’s assets as of March 31 totaled $869.1 million, up 33% from $651.5 million a year earlier. Levy’s purchase of Santa Paula Savings in September contributed to the gain.