Liberty National Bank Posts Record Earnings
Liberty National Bank in Huntington Beach posted record second-quarter net income of $252,658, contrasted with net of $144,515 in last year’s second quarter. Its six-month net income of $401,728 also was a record. Last year, it earned $255,816 in the same period.
Philip S. Inglee, president, predicted that net earnings would reach a record for the year.
The two-branch bank reported total assets of $105.4 million at the end of June, a 12.4% increase over $93.8 million a year earlier. Total deposits rose 17.7% to $97.3 million at the end of the month from $82.7 million a year earlier, and the loan portfolio grew slightly to $65.3 million from $62.1 million.
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