Bank of Encino Profits Total $341,710 for 1988

Bank of Encino, a single-office bank that focuses on businesses and wealthy individuals, said its profit last year totaled $341,710, or 85 cents a share, up sharply from the $6,588 the bank earned in 1987.

The per-share earnings for last year were adjusted for a 2-for-1 stock split declared by Bank of Encino in June.

The bank said its assets jumped 40% in 1988, to $46.4 million from $33.2 million, and its deposits climbed 45% to $41.2 million from $28.4 million.