SAN DIEGO COUNTY - News from Jan. 20, 1989
* La Jolla Bancorp, the parent company of La Jolla Bank & Trust, reported that net income rose by 246% to $876,000 for the fourth quarter ended Dec. 31, up from $253,000 the previous fourth quarter. (Data for 1987 were restated to reflect the 1988 mergers that La Jolla Bancorp completed with Hidden Valley National Bank and Bank of Del Mar.)
La Jolla Bancorp reported that net income rose by 33% to $2.8 million, up from $2.1 million the previous year.
Year-end assets rose by 5.6% to $437 million, up from $414 million the year before. Deposits rose by 4.9% to $398 million, up from $379 million. Loans rose by 9.9% to $291 million, up from $265 million.
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