American Pacific State’s Profit Rises 9% for Quarter

American Pacific State Bank in Sherman Oaks said its profit rose 9% in its first quarter ended March 31, to $549,077 from $504,166 a year earlier.

The bank, which primarily makes loans to small businesses, reported total assets of $230.4 million as of March 31, up 13% from a year ago, when it had assets of $204.6 million.