National Bank’s Income Rises 15% in 3rd Quarter

National Bank reported third-quarter net income of $165,654, up 15% from the $143,816 reported for third quarter 1986. For the year to date, ENB’s net income stands at $450,178, compared to $383,483 over the same period last year, a 17% increase.

Assets as of Sept. 30 were $86.8 million, up from $77.3 million a year ago. Deposits were $79 million, up from $71.6 million this time last year. Net loans stand at $56.4 million, up from $38.7 million a year previous.

Shareholders of ENB and San Marcos National Bank will meet in November to vote on a proposed merger of the two institutions. The merger is expected to be completed by year end. All regulatory approvals have been received except that from the Securities and Exchange Commission.

Escondido National Bank is a wholly owned subsidiary of ENB Holding Co.