Bank Reports 54% Increase in 4th-Quarter Profits
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Santa Clarita National Bank in Valencia said its net income for the fourth quarter that ended Dec. 31 jumped 54% to $1.2 million from $778,000 a year earlier. As of Dec. 31, the bank’s total assets were $258.2 million, up almost 4% from $248.1 million a year before.
Full-year profits for the bank increased 31% to $4.2 million from $3.2 million in 1988.
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