Holding Company Income Is Lower for 2nd Quarter
Bond portfolio expenses caused El Camino Bancorp, the holding company for El Camino Bank in Anaheim, to post second-quarter net income of $418,000, down slightly from $424,000 earned in last year’s second quarter.
But the company reported a record $802,000 net income in the first six months, 5.1% higher than the $763,000 earned in the same period last year. Stanley Pawlowski, chairman of the company and the bank, is predicting that full-year earnings will be the best ever for the 17-year-old institution.
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