American Pacific Earnings Jump 61% in 4th Quarter

American Pacific State Bank saw its fourth-quarter earnings jump 61% while its profits for all of last year climbed 27%.

The Sherman Oaks-based bank had net income of $1.06 million for the quarter that ended Dec. 31, compared to a profit of $658,523 in the same quarter a year earlier.

For all of 1996, American Pacific had net income of $2.9 million, up from $2.3 million in 1995.

As of Dec. 31, total assets were $311 million, up 8% from $287 million a year earlier.