Also. . .
* East West Bancorp Inc., San Marino-based parent of wholly owned East West Bank, reported second-quarter net income of $7.1 million, or 31 cents per share, compared with $3.8 million, or 16 cents, a year ago. The results include a one-time pretax gain of $676,000 on the sale of the company’s Irvine branch to People’s Bank of California. Interest income rose to $36 million from $30.4 million. During the quarter ended June 30, the company completed its acquisition of First Central Bank.
*
* Marathon Bancorp, the Los Angeles-based parent to Marathon National Bank, said second-quarter earnings rose to $90,000, or 2 cents per share, compared with $20,000, or 1 cent, for the year-ago period. The company cited higher loan demand for commercial and new real estate construction. Interest income dropped to $1.2 million from $1.4 million.
*
* Los Angeles-based Argonaut Group Inc., a seller and underwriter of workers’ compensation insurance, reported second-quarter net income of $7.2 million, or 30 cents per share, on revenue of $51.4 million. That compares with $8.8 million, or 36 cents, on revenue of $56.3 million, in the year-ago quarter. The company attributed the lower results to rate decreases in key states and the continuing difficult market for workers’ compensation, the company’s principal line of business.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.