American Pacific Bank Profit Drops 20%

American Pacific State Bank said its fourth-quarter profit fell 20% from a year earlier, to $430,556 from $535,021.

The decline in the three months ended Dec. 31 reflected a $235,000 loss incurred when Sherman Oaks-based APSB sold foreclosed real estate, the bank said.

For all of 1992, APSB’s net income inched up 1%, to $2.18 million from $2.15 million in 1991. The bank’s assets as of Dec. 31 totaled $227.2 million, up 4% from $219.2 million a year earlier.