Earnings, Assets Rise for First American Bank

First American Bank and Trust Co., a small independent bank in Laguna Beach, has reported a first-quarter profit of $92,680, a 34% increase over 1984 when profits were $68,934.

Total assets rose about 5% to $23.6 million at the quarter’s end, versus $22.5 million a year earlier. Deposits increased 7% to $21 million and loans jumped 13% to $17.5 million.