Dana Niguel Bank Posts Tripled 1986 Earnings

Dana Niguel Bank reported earnings of $301,000 for 1986, three times more than the net income of $80,000 recorded a year ago. Earnings for the fourth quarter were $93,000, contrasted with a loss of $35,000 for the like quarter last year.

The Dana Point bank’s assets rose 35.9% to $35.9 million on Dec. 31, up from $26.4 million a year earlier. The bank’s loan portfolio as of year’s end had more than doubled to $33.1 million from $16.4 million, while deposits grew 24% to $23.2 million from $18.7 million.