Earnings Up 44% for Sherman Oaks Bank

American Pacific State Bank reported a 44% increase in its third-quarter earnings.

The Sherman Oaks-based bank had a net income of $1 million in the quarter that ended Sept. 30, compared with a net income of $695,000 a year earlier.

For the nine months ending June 30, the bank reported a net income of $2.3 million, up 21% from $1.9 million in 1996.