Americorp Earnings Rise in 3rd Quarter

Americorp in Ventura, the holding company for American Commercial Bank, reported third-quarter earnings of $964,000, or 39 cents per diluted share, which represents a 7.6% increase over the $896,000, or 41 cents per diluted share, that was reported for the same period in 1999.

Total assets for Americorp stand at $262.2 million. Total net loans as of Sept. 30 grew to $196.7 million, a 15.7% increase over the same period last year.

Total shareholders’ equity on Sept. 30 was $24.6 million, representing a 12% increase from the $21.9 million reported on Sept. 30, 1999.

“We continue to experience a healthy and vibrant local economy, which accounts for the record year-to-date earnings that have been posted by the bank,” said Gerald J. Lukiewski, president and chief executive of American Commercial Bank.

American Commercial Bank operates six branches in Ventura, Oxnard and Camarillo.