Bank of Encino Says Profit Increased in 1st Quarter

Bank of Encino, a single-office bank that caters to medium-sized businesses and wealthy individuals, said its first-quarter profit soared to $176,296 from $33,057 a year earlier.

The bank, which was organized in September, 1986, said its assets as of March 31 totaled $47.9 million, up 24% from $38.6 million a year earlier. Bank of Encino’s deposits rose 25% to $42.2 million from $33.7 million.