1st-Quarter Profit Rises at Charter Pacific Bank

Charter Pacific Bank in Agoura Hills posted a profit of $351,000 for its first quarter ended March 31, up 10% from the $318,000 that it earned a year earlier.

In addition, the company revised its net income for 1991, to $1.3 million from the $1.71 million previously reported, to reflect adjustments in loan losses and capitalized expenses. With the revision, the company’s net income for 1991 was only slightly higher than 1990, when it earned $1.29 million.