Premier Bank’s 1st Quarter a Turnaround From ’87

Premier Bank posted a $48,080 profit for its first quarter that ended March 31, against a loss of $64,844 a year earlier.

Robert N. Giacobbe, president and chief executive of the Northridge bank, attributed the improvement to cost-cutting efforts, aggressive marketing and increased loan activity.

Premier, with assets of $59 million, has offices in Northridge, Woodland Hills and Thousand Oaks.