Western Security Bancorp Says Profit Doubled in ’89
Western Security Bancorp, the Burbank parent of the single-office Western Security Bank, said its fourth-quarter profit more than doubled from a year earlier, to $352,500 from $174,000.
The gain helped Western Security’s earnings for the full year that ended Dec. 31 also double, to $1.32 million from $649,100. The company’s assets as of Dec. 31 totaled $77 million, up 14% from $67.8 million a year earlier.
Western Security mainly caters to businesses and professional clients.
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