American Pacific Profit Climbs 7% in 3rd Quarter

American Pacific State Bank in Sherman Oaks said its profit rose 7% in its fiscal third quarter that ended Sept. 30, to $604,000 from $567,000 a year earlier. The bank’s nine-month profit increased 11%, to $1.62 million from $1.46 million.

The bank, which primarily makes loans to small businesses, attributed its profit growth to conservative lending practices that have kept problem loans to a minimum despite the recession.