Bank Holding Company Has Record Profit for ’86
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California Commercial Bankshares, the holding company for National Bank of Southern California in Santa Ana, posted record net income of $1.06 million for 1986, a 20.4% increase over the $883,201 earned the previous year. The company’s fourth-quarter net income rose 28% to $332,676 from $259,957 in the previous year’s final quarter.
The company’s total assets rose 34% to $130.2 million at the end of December from $96.9 million a year earlier.
The bank, which accounts for nearly all of the company’s financial figures, has targeted its services for business people, particularly professionals, said William Jacoby, the bank’s chairman and chief executive.
The bank’s total deposits increased 37.3% to $118.25 million at the end of the year from $86.15 million a year earlier, while its loan portfolio grew 34% to $86.3 million from $64.4 million.
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