Landmark Bank Reports Record First Quarter
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La Habra-based Landmark Bank recently reported record income for the first quarter ended March 31. Net income rose 107% to $182,028, up from the $86,762 posted in the first quarter of 1984.
The bank, which has four branches in Orange County, reported an increase in total assets to $98 million, up 17% from the $84 million reported in the year-ago period. Deposits increased 17% to $88 million, compared to the $75 million recorded in the first quarter of 1984.
“Landmark Bank continues to reach outstanding levels of achievement which can be attributed to a loyal customer base and shareholders’ support,” said Craig D. Collette, president and chief executive officer, in a statement.
At the end of the first quarter, Landmark had about $55 million in outstanding loans; the bank’s capital-to-assets-ratio stood at 9.17%.
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