Premier’s 1991 Profits Increase to $746,000

Premier Bank, a three-branch bank with headquarters in Northridge, said it narrowed its loss in the fourth quarter to $129,000 from $512,000 a year earlier.

For the full year ended Dec. 31, Premier’s net profit jumped to $746,000 from $174,000 in 1990, the bank said.

The bank said deposits declined 11% to $77 million in 1991 because of the poor economy and dropping interest rates. Total assets at year-end were down nearly 10% to $84.7 million from $93.8 million at the end of 1990.