BANKING : Many Banks in O.C., State Are Still Performing Poorly

With only 10 of Orange County’s 27 banks posting profits through the first nine months last year, the prospects that many more will be profitable for the year appear slim.

So, too, for banks statewide, say banking consultant Gerry Findley and his son, Gary Steven Findley, a banking lawyer. The Findleys, who operate the Findley Reports and consulting business in Anaheim, expect that 35% of the state’s 384 banks will post losses for 1993.

“We see glimmers of hope from the performance of several institutions in Northern California; however, the performances of several institutions in Southern California have been quite sobering,” they said in their monthly Findley Reports newsletter.

Last year, 24 banks were acquired by other institutions or seized by regulators. Among them were three county institutions that failed--American Commerce National Bank in Anaheim, First American Capital Bank in Laguna Beach and Mid City Bank in Brea.

The Findleys figure that about 20% of the state’s banks have serious financial and that 24 more will be acquired or closed this year, including several in Orange County.

One county bank, CommerceBank in Newport Beach, is precipitously low on capital, its final cushion against losses, and is preparing to raise capital in a public offering. Pioneer Bank in Fullerton also is looking for new money. At least six other county banks are watching the efforts of CommerceBank and Pioneer to see if it is worthwhile for them to ask the public to invest.