Verdugo Banking Earnings Up 56% in 1st Quarter

Verdugo Banking Co. in Glendale reported net earnings for the first quarter ended March 31 of $364,000, a 56% increase over net income of $233,000 for the first quarter of 1999. Assets rose 13% to $107 million from $94.5 million.

Verdugo Banking Co. is an FDIC-insured independent commercial bank.