Quarterly Income of $35,786 Reported by Pacific Inland
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Pacific Inland Bancorp said third-quarter net income was $35,786 contrasted with a net loss of $102,885 for the comparable period a year earlier.
For the nine months, the Anaheim-based holding company for Pacific Inland Bank reported net income of $492,093 contrasted with net income of $4,070 for the same period the prior year. The Anaheim-based company attributed the improvement to lower cost of funds, higher interest margins and reduced expenses.
John Britt, president and chief executive, said he expects the 30-month-old company to continue to be profitable.
In addition to its bank, Pacific Inland Bancorp owns and operates a venture capital company and an investment management service.
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