Premier Bank Shows $225,320 Quarterly Profit

Premier Bank reported that its profits increased to $225,320 for the second quarter of 1989 after it suffered a loss of $15,649 during the same period last year. That reversal contributed to a more than thirteenfold increase in profits for the first six months of 1989 over the same six-month period in 1988, from $32,431 to $437,375.

The Northridge-based bank said its assets increased 18%, to $74 million, on June 30, 1989, from $62.5 million a year earlier. During the same period, deposits increased 17% to $66.9 million from $57.3 million.