APSB Bancorp Profit Increases in 2nd-Quarter
APSB Bancorp, the North Hollywood holding company for American Pacific State Bank, said its second-quarter profit jumped 33% from a year earlier, to $361,000 from $271,000.
APSB’s earnings for the first half of 1989 climbed 27%, to $732,000 from $575,000 in the comparable 1988 period. The company attributed the gains to solid loan demand, cost controls and a wider spread between the interest APSB paid for deposits and the interest it earned on loans and investments.
As of June 30, APSB’s assets totaled $173 million, up 15% from $151 million a year earlier.
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