Los Robles Bank’s Net Up as Conditions Improve
Los Robles Bancorp reported the net income of its wholly owned subsidiary, Los Robles Bank, at a record-setting $712,000 for calendar year 1996.
This represented a $118,000 increase over the previous year’s earnings record of $594,000.
“We have greatly benefited during 1996 from a strong business development program, an improving economy and important competitive changes as a result of a high level of merger activity,” said Robert B. Hamilton, bank president and CEO.
The bank’s year-end assets exceeded $93.5 million, up more than $15.6 million from a year earlier. Past-due and nonperforming loans are down to $234,000, or 0.44% of outstanding loans.
“While we show substantial growth over the last year in loans and deposits, we are most pleased that total shareholders’ equity passed the $6.8-million mark for the first time ever, increasing the book value per share to a new high of $12.96,” Hamilton said.
Los Robles Bank has offices in Thousand Oaks, Westlake Village and Camarillo. It specializes in providing banking services to small businesses, professionals and entrepreneurs.
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