APSB Bancorp’s Profit Increases 30% for Quarter
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APSB Bancorp, the Sherman Oaks-based parent of American Pacific State Bank, said its third-quarter profit rose 30% from a year earlier, to $566,000 from $436,000.
The company said its assets as of Sept. 30 stood at $204 million, up 15% from $177 million a year earlier. The asset growth was aided by APSB’s opening of a new office in Woodland Hills.
APSB, which has five branch offices, attributed the profit gain to cost controls and strong loan demand, particularly for its Small Business Administration loans.
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