Bank Holding Firm to Report Record Earnings
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Eldorado Bancorp in Laguna Hills said it expects to report a record $620,000 net income for the third quarter, a 13% increase over the $548,000 it earned a year earlier.
The company, a one-bank holding company for Eldorado Bank in Tustin, also predicted a record $1.77 million net income for the first nine months, a 31% increase over the $1.35 million earned in the same period last year.
J.B. Crowell, president and chief executive officer, made the predictions at a meeting of financial analysts Wednesday in Los Angeles. Crowell also said the company’s pending acquisition of American Merchant Bank for about $4 million in cash and stock is proceeding on schedule.
Full financial results are expected to be released early next week, a company spokesman said.
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