American West Bank Reports 30% Rise in Profit

American West Bank, a single-office bank in Encino, said its first-quarter profit rose 30% from a year earlier.

American West, a 4-year-old bank that caters mostly to small- and medium-sized businesses, earned $117,047, or 15 cents a share, in the quarter that ended March 31, up from $89,793, or 12 cents a share, a year earlier.

The bank’s assets as of March 31 totaled $48.3 million, up 15% from $42 million a year earlier. Its deposits for the same period rose 16% to $41.6 million from $35.9 million.