American Pacific Bank Net Income Climbs 15%

American Pacific State Bank in Sherman Oaks reported that its net income for the first quarter ended March 31 climbed 15% to $504,000 from $437,000 a year ago. The bank had assets on March 31 of $205 million, 7% more than a year before, when it had assets of $192 million. The bank attributed the improved results to demand for loans--in particular, federal Small Business Administration loans--as well as controls on expenses.