First Citizens Bank Reports $111,000 Profit

First Citizens Bank, a single-office bank in Sherman Oaks, reported a profit of $111,000 for its second quarter that ended June 30, in contrast with a year-earlier loss of $133,000.

The bank attributed the earnings turnaround to growth in its net interest income, lower expenses and gains on the sale of securities.

First Citizens’ six-month profit was $203,000, compared with a loss of $98,000 in 1991’s first half.

At June 30, First Citizens’ assets totaled $37.6 million, up 9% from its $34.4 million in total assets a year before.