Sherman Oaks Bank to Pay 2nd Dividend in 4 Months

Shareholders of Sherman Oaks-based American Pacific State Bank are in line for a second midyear cash dividend, the company has announced.

Record performance in 1997 and strong earnings for the first six months of 1998 prompted the payout, the second cash dividend to be announced in the past four months. A dividend of 14 cents per share will be paid to shareholders of record as of Sept. 14, payable Oct. 1.

The bank, with $375 million in assets, has reported record earnings in each of the past five years.