Liberty National Bank’s Profits Fall 6% in 1990
Liberty National Bank of Huntington Beach reported net earnings of $1.5 million for 1990, down 6% from the $1.6 million posted last year.
The bank attributed the decline to a reduction in its real estate construction lending and a one-time expense of $296,560 associated with an earlier capital offering.
Net income for the fourth quarter dropped 42%, to $246,933 from $424,895.
Total assets at the end of 1990 were $146.4 million, 7% higher than the $136.3 million recorded for 1989.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
