Bank of Encino Income Up 15% in 3rd Quarter

Bank of Encino reported that its net income for the third quarter that ended Sept. 30 increased 15% to $143,493 from $125,154 during the same period last year. The Encino-based bank’s assets rose 17% to $51 million from $44 million a year earlier. The bank said that a tax benefit of $41,614 in the third period of 1988 boosted net income for that quarter.