Irvine City Bank: The wholly owned subsidiary...

Irvine City Bank: The wholly owned subsidiary of Irvine City Financial posted net earnings of $65,000 for fiscal 1990, contrasted with a loss of $330,000 for the previous year. For the fourth quarter ended June 30, the savings and loan reported a net profit of $86,000 contrasted with a loss of $71,000 for the corresponding period in 1989. Total assets declined 15%, to $76.8 million from $90.2 million. Irvine City Bank changed its name five months ago from Irvine City Savings & Loan Assn.