American West Bank Posts 55% Rise in Earnings
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American West Bank, based in Encino, posted a 55% jump in its nine-month earnings. For the period that ended Sept. 30, American West posted a $440,385 profit, compared to net income of $283,306 a year earlier.
Assets increased 14% to $65.4 million from a year earlier.
Last month, American West Bank agreed to merge with the Bank of Los Angeles and that deal is expected to close in the first quarter of 1997. American West Bank’s Chief Executive John Feldman will be CEO of the newly merged bank.
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