La Jolla Bancorp, holding company of La...
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La Jolla Bancorp, holding company of La Jolla Bank & Trust Co., reported third-quarter net income of $666,000, up from $480,000 for the same three months last year. Year-to-date net income stood at $1.7 million, up from $1.3 million over the same three quarters last year.
As of Sept. 30, La Jolla Bancorp assets stood at $323.5 million, up 9% from the $297.8 million a year ago. Deposits were up 9% to $295 million and loans were at $198 million, a 5% increase over the previous year.
La Jolla Bancorp’s pending acquisitions of Hidden Valley National Bank of Escondido and Bank of Del Mar will add about $61 million to the holding company’s asset base and make it the second-largest San Diego County-based bank in asset size after San Diego Trust & Savings Bank.
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