Independence One Bank of California: The Mission Viejo-based thrift with five branch offices reported a second-quarter profit of $931,000, down 57% from earnings of $2.2 million for the same period a year earlier. The company blamed the decline on rising home mortgage rates, which have resulted in fewer home sales and less refinancing activity. Six-month earnings were $1.9 million, down 52% from $3.9 million for the first six months of last year. Total assets were $645.7 million as of June 30, down 34% from $981.1 million a year earlier.
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