SDNB Financial Corp., the parent company of...
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SDNB Financial Corp., the parent company of San Diego National Bank, reported that net income rose to $304,000 for the fourth quarter ended Dec. 31, 1987, up from $16,000 during the previous fourth quarter. Net income for the year ended Dec. 31 rose by 82% to $651,000, up from $357,000 during the previous year.
Total assets rose by 29% to $159.3 million, compared to $123.5 million a year ago.
San Diego National Bank’s net income rose by 37% to $363,000 for the fourth quarter ended Dec. 31, up from $188,700 during the previous fourth quarter. Net income for the year ended Dec. 31 rose by 21% to $1 million, up from $878,000 a year ago.
Deposits rose by 34% to $128.3 million, compared to $95.7 million a year earlier. Total loans rose by 5% to $75.8 million, compared to $71.9 million a year earlier.
In January, SDNB Financial declared a dividend of 16 cents per share, the company’s first cash dividend.
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