American Pacific State Bank Sees 20% Quarter Rise

American Pacific State Bank in Sherman Oaks reported a 20% increase in its second-quarter earnings.

In the three months that ended June 30, the bank had net income of $525,000, up from $436,000 a year earlier.

For the six-month period, American Pacific had a profit of $1.18 million, a 16% gain from $1.01 million in net income in the first half of 1995.

The bank attributed the gains to an improved economy and real estate market.

American Pacific is one of the region’s largest generators of Small Business Administration loans.