OTHER NEWS - Feb. 7, 1992

Liberty National Earnings Up: Liberty National Bank said Thursday that it posted a 12.8% increase in earnings for 1991 over the previous year. The Huntington Beach bank earned $1.6 million, or $1.72 a share. The results are adjusted for a reverse 4-for-1 stock split on Aug. 15, 1991. The Huntington Beach-based bank has been profitable every year since it opened in 1982. President Philip S. Inglee said the bank’s earnings are a result of its early recognition of the downturn in real estate in 1990 and its effective control of both interest and non-interest expenses during 1991. Liberty National’s assets grew to $159.6 million during 1991, up 9% from $146.4 million in 1990. Deposits increased 11% to $142.7 million as of Dec. 31, from $128.6 million at the end of 1990. Shareholders’ equity grew to $13 million by year’s end, up 12% from $11.6 million in 1990. Liberty National Bank has offices in Huntington Beach and Los Angeles, and loan production offices in the San Francisco Bay Area and San Bernardino.