American West Bank’s Earnings Rise in Quarter
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Encino-based American West Bank reported earnings for its first quarter ended March 31 of $56,960, or 9 cents a share, versus a loss during the same period in 1985 of $39,577, or 6 cents a share.
The 2-year-old bank had assets of $34.9 million on March 31, up 74% from a year earlier and 7% higher than at the end of last year. American West Bank had a net worth at the end of the quarter of $5.9 million, up 4% from March 31, 1985.
Robert W. Kagy, president and chief executive of American West Bank, said the bank has specialized in serving professionals and small- and medium-sized businesses.
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