Valencia Bank Reports Earnings, Revenues Gain
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Valencia Bank & Trust posted a 61% increase in earnings for 1998, and a 16% gain in revenues for the year, the company reported.
Annual earnings rose to $1.206 million, or $1.07 per share, and revenue increased to $10.578 million.
Net income for the fourth quarter rose 48% to $366,189 or 32 cents per share, while fourth-quarter revenues rose by 16% to $2.858 million.
As of Dec. 31., the company had assets of $137.6 million, up from $113.9 million on Dec. 31, 1997.
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