APSB Bancorp Reports Earnings of $397,000

APSB Bancorp, the North Hollywood parent of American Pacific State Bank, said it earned $397,000, or 35 cents a share, in the fourth quarter ended Dec. 31, an increase of 34% from the year-earlier period. For the year, APSB earned $1.3 million, or $1.18 a share, up 32% from 1987.

APSB had $165 million in assets as of Dec. 31, up 14% from $145 million a year earlier. APSB’s return on average assets, a key indicator of a bank’s performance, was 0.97% in the quarter, up from 0.81% a year earlier. For the year, the figure was 0.89% compared to 0.72% in 1987. A return 1% is considered excellent by banking experts.

APSB said its profits were boosted by strong loans, tight controls over expenses and a wider gap between the interest it earns on loans and the interest it pays for deposits.