Torrey Pines Group’s Net Income Rises 3.6%
Torrey Pines Group, the parent company of Torrey Pines Bank and Torrey Pines Equity Corp., reported that, despite costs generated by “our heaviest expansion program ever,†net income rose 3.6%, to $632,000, for the fiscal year ended Dec. 31. Net income rose 39.1%, to $324,000, during the fourth quarter.
Assets grew 81%, to $205 million, deposits rose 81%, to $185 million, and loans increased 60%, to $136 million.
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