Bank of Encino Doubles 2nd-Quarter Net Income

Bank of Encino reported more than a doubling of its net income to $354,686 for the second quarter that ended June 30. The bank reported net income of $115,881 for the same period a year earlier.

The Encino-based bank said its total assets on June 30 had risen 29% to $50.5 million compared to $39.1 million on June 30, 1988. Deposits rose 31% to $44.5 million, compared to $34 million.