Fallbrook National Bank reported that net income fell to $107,000 during the third quarter ended Sept. 30, down from $112,000 during the like period the year before. The bank enjoyed large tax benefits the previous yea, according to a spokesman.
Net income for the nine-month period ended Sept. 30 rose by 18%, to $225,000, up from $191,000 during the like quarter the year before.
Total assets rose by 48% to $25.3 million, up from $17.2 million, and total loans rose by 55%, to $15.6 million, up from $10 million. Total deposits rose by 51%, to $22.5 million, up from $14.9 million.