Pacific National Bank Reports Profitable Year

Pacific National Bank, a two-branch bank with headquarters in Newport Beach, has reported earnings of $550,000 for 1986, its fifth consecutive year of profitable operation.

Year-end assets for the 5-year-old bank totaled $64.4 million, 14% higher than the $56.6 million at the end of 1985. Total deposits during the year grew 13% to $59.1 million from $52.3 million. Outstanding loans at year’s end were $42.8 million, 26% higher than the $33.9 million the year before.