Liberty National Bank: The Huntington Beach bank...
Liberty National Bank: The Huntington Beach bank said its second-quarter profit declined 52% to $203,658, or 21 cents a share, from $422,818, or 43 cents a share, for the same period a year earlier. For the first half, profit fell 59% to $375,463, or 38 cents a share, from $909,405, or 93 cents a share. Assets as of June 30 totaled $163.2 million, down 5% from a year earlier. The bank attributed the decline in profit to the recession and to the Small Business Administration exhausting its funds budgeted to support guaranteed loan programs during the second quarter.
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