BANKING / FINANCE
- Share via
A loss: Grand National Bank in Santa Ana refused a month ago to disclose its annual earnings, but recently released financial figures turned into federal regulators show that it lost $75,000 last year.
All told, the year-end combined total of earnings for the 37 banks based in Orange County is $47.9 million.
Grand National has had a few years of lackluster earnings, but it had not fallen into red ink since 1984, its first full year of operation, when it lost $1.4 million.
The reason for the loss is unclear. Andrew Yip, the bank’s president, could not be reached for comment.
The bank’s assets at the end of the year rose 8% over the previous year, to $31.3 million. But the total for its loan portfolio dropped nearly 35% to only $11.9 million at year end. Its bad-loan total remained relatively small--only $4,000.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
