Independence Bank Shows Profit in 2nd Quarter
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Independence Bank in Encino reported a net income of $1.33 million for the second quarter that ended June 30, compared to a loss of $256,000 a year earlier. For the first six months of 1990, Independence’s profit about tripled to $2.79 million from $922,000 last year.
On June 30 the bank had assets of $718 million, an increase of 14% from $629 million a year ago.
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