SDNB Financial Corp., parent company of San Diego National Bank, reported that net income rose to $54,000 for the second quarter ended June 30, from $6,000 during the previous second quarter. Year-to-date net income rose by 52%, to $232,000, from $152,000 during the previous first half.
SDNB linked the sharp rise in net income to increased leasing income from the San Diego National Bank building at Kettner Boulevard and Ash Street.
San Diego National Bank reported that net income rose by 15%, to $199,000, from $173,000 during the previous second quarter. Net income for the first half rose by 9%, to $480,000, from $439,000 a year earlier.
Deposits grew by 11%, to $121.8 million, from $109.6 million. Loans rose by 11%, to $83.7 million, from $74.9 million.