Charter Pacific Bank Quarterly Earnings Up

Charter Pacific Bank, which has three branches and is headquartered in Agoura Hills, announced earnings of $288,000 for the second quarter ending June 30, compared to losses of $597,000 for the same quarter 1994.

For the six-month period ending June 30, the bank garnered net income of $600,000, or 13 cents per share, compared to losses of $903,000 for the same period last year.

The bank’s chairman and CEO, Michael Ward, said that strong earnings through the first half of the year combined with a successful capital plan that raised $2.5 million have placed the bank in a good position to take advantage of California’s recovering economy.