Lincoln Bancorp Income for Quarter Up 23%

Lincoln Bancorp, the Encino parent of Lincoln National Bank, said its net income for the fourth quarter that ended Dec. 31 increased 23% to $1.77 million from $1.44 million. The bank said its total assets at the close of the quarter and the year were up 20% to $501 million from $416 million a year before.

For all of 1989, Lincoln’s net income increased 49% to $6.25 million from $4.19 million in 1988.