Los Robles Bank’s Net Up as Conditions Improve
- Share via
Los Robles Bancorp reported the net income of its wholly owned subsidiary, Los Robles Bank, at a record-setting $712,000 for calendar year 1996.
This represented a $118,000 increase over the previous year’s earnings record of $594,000.
“We have greatly benefited during 1996 from a strong business development program, an improving economy and important competitive changes as a result of a high level of merger activity,” said Robert B. Hamilton, bank president and CEO.
The bank’s year-end assets exceeded $93.5 million, up more than $15.6 million from a year earlier. Past-due and nonperforming loans are down to $234,000, or 0.44% of outstanding loans.
“While we show substantial growth over the last year in loans and deposits, we are most pleased that total shareholders’ equity passed the $6.8-million mark for the first time ever, increasing the book value per share to a new high of $12.96,” Hamilton said.
Los Robles Bank has offices in Thousand Oaks, Westlake Village and Camarillo. It specializes in providing banking services to small businesses, professionals and entrepreneurs.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
