Charter Pacific’s Profits for Quarter Up 10 Times

Charter Pacific Bank, an Agoura Hills commercial bank, said its profit for the third quarter that ended Sept. 30 was $493,000, up 10 times from $49,000 a year earlier.

For the first nine months of 1995, earnings were $1.09 million compared to a loss of $829,000 in the first nine months last year.

Average assets as of the end of the third quarter were $81 million, up 21% from last year.

The bank attributed the growth in earnings to a shift toward commercial loans and away from construction loans.