Western Security Bancorp Says Profit Doubled in ’89

Western Security Bancorp, the Burbank parent of the single-office Western Security Bank, said its fourth-quarter profit more than doubled from a year earlier, to $352,500 from $174,000.

The gain helped Western Security’s earnings for the full year that ended Dec. 31 also double, to $1.32 million from $649,100. The company’s assets as of Dec. 31 totaled $77 million, up 14% from $67.8 million a year earlier.

Western Security mainly caters to businesses and professional clients.