OneCentral’s Net Income Up 16% Over Year Earlier
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OneCentral Bank, a single-branch bank based in Glendale, said its net income for the fourth quarter that ended Dec. 31 climbed 16% to $211,000 from $182,000 a year earlier. For the full year in 1990, OneCentral’s net income fell 28% to $729,012 from $1.01 million in 1989.
The bank had assets on Dec. 31 of $72.8 million, down 4% from $76.1 million a year before.
OneCentral said that despite the decline in net income for all of 1990, it earned a return on average assets (ROA) of 1.06%. In the banking industry, an ROA of 1.00% is considered good. (The return is calculated by dividing a bank’s net income for the year by its average assets during the period.)
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