Citing weaker sales and profit margins, production...

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Citing weaker sales and profit margins, production problems at one subsidiary and start-up snafus at another, La Jolla-based Intermark Inc. reported a loss of $2.3 million for the third quarter ended Dec. 31, compared with a profit of $274,000, or 6 cents per share, in the third quarter of 1983. Revenues in the quarter totaled $111 million, up from the year before’s $43 million, primarily because of the full consolidation of subsidiary Pier 1 Inc.

For the nine months, Intermark reported a loss of $1.6 million on revenues of $354 million. That compares to 1983’s nine-months’ net income of $5.4 million, or $1.29 per share, on revenues of $111 million.

For the first time in three years, Vista-based Southwest Bancorp has reported an annual profit. Net income for the year ended Dec. 31 was $1.2 million, or 36 cents per share, compared to a loss of $1.9 million in 1983. Loans rose nearly 5% to $196 million while deposits decreased 2% to $238.6 million. Total assets dropped 10% to $275.5 million, reflecting a planned reduction in the purchase and sale of overnight federal funds, officials said.


Despite significant jumps in total assets and deposits, First National Bank reported only a 3% rise in net income, to $735,000, or 53 cents per share, for the year ended Dec. 31. Fourth-quarter net income dropped 60% to $73,000 because of costs associated with the company’s move to the old Columbia Centre. The after-tax tab for the move: $128,000. Total assets for the year increased 43% to $103 million while deposits rose 63% to $83 million.

National Bankshares of La Jolla, holding company for National Bank of La Jolla, reported a 57% jump in net income, to $407,000, or 45 cents per share, for the year ended Dec. 31. Net loans and leases increased 75% to $53.7 million, while total assets jumped 39% to $77.2 million. Deposits climbed 31% to $66.3 million.

North County Savings & Loan Assn., which opened in June, reported a net loss of $65,000 for its first six months ended Dec. 31. For the quarter ended Dec. 31, the association reported total assets of $14.3 million and real estate loans of $4 million. Savings deposits were $11.8 million, up from $5.7 million at the end of September.

Capital Bank of Carlsbad, a subsidiary of Crown Bancorp that opened only 11 business days before the end of 1984, reported a net profit of $12,775 for 1984. Assets totaled $7.2 million, deposits reached $4.3 million and loans totaled $3.7 million.

San Diego Financial Corp., holding company for San Diego Trust & Savings Bank, reported a 19.5% increase in net income, to $6.1 million, for the year ended Dec. 31. Assets increased 10.1% to $963.6 million, while deposits rose 3.5% to nearly $874 million and net loans jumped 7.6% to $489.6 million.