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Bank of Encino’s Profit Increases From Last Year

Bank of Encino, a single-office bank in Encino, said its profit for the nine months that ended Sept. 30 more than quadrupled to $241,035 from $57,532 a year earlier.

The earnings equaled 60 cents a share, up from 29 cents a share a year ago. The per-share profit did not rise as steeply as overall net income because Bank of Encino had a 2-for-1 stock split June 30, which lifted its total number of shares outstanding from 200,000 to 400,000.

Bank of Encino, which caters mostly to medium-sized businesses, said its assets as of Sept. 30 totaled $43.8 million, up 36% from $32.3 million a year earlier.


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