Pacific Inland Bancorp reported a net loss of $201,973 for its 1986 fiscal year, down from a loss of $1.8 million in 1985. Revenue for the year rose 20% to $9.3 million from $7.7 million reported the previous year.
In the fourth quarter, the Anaheim-based bank holding company posted a net loss of $694,066, contrasted with a loss of $1.8 million for the same period a year ago. Revenues dropped about 2% to $1.6 million from $1.7 million a year earlier.
The 1986 revenues largely resulted from a $362,582 operating profit from the company's Pacific Inland Bank subsidiary, contrasted with a $1.4-million loss in 1985. Assets of the Anaheim-based bank also grew last year from $56 million to $81 million, Pacific Inland Bancorp said.
"The bank's profitability was enhanced by securities gains in the investment portfolio . . . as well as higher earnings from a larger asset base," said Richard J. Meyer, Bancorp chairman. "We look for a substantial turnaround in the results for 1987," Meyer said, because of fees from transactions now under way that are expected to be completed this year.