Escondido Bank Says Its Net Income Is Up
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Escondido National Bank reported that net income rose by 19% to $284,524 for the second quarter ended June 30. Assets rose by 22% to $87.1 million, deposits increased by 22% to $80.5 million, and loans were up by 35.5% to $54.2 million.
The bank’s shareholders will vote later this year on a proposed merger with San Marcos National Bank, said Escondido National’s president, Harvey Mitchell. Both banks soon will be submitting merger applications to federal regulators.
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