List American Bank Gets New Owners, Turnaround

Rejuvenated with a new owner and a new name, List American Bank in Newport Beach posted a $157,127 net income for the third quarter, contrasted with a $48,770 loss in the same quarter last year. Its net earnings for the first nine months were $161,672, contrasted with a $301,000 loss last year.

At the end of September, List American had $64.1 million in assets, a 16.8% increase over $54.9 million in assets a year earlier. Its loan portfolio rose 3.9% to $37.3 million from $35.9 million, and its total deposits grew 15.4% to $59.8 million from $51.8 million.