Net Income $51,000 for California City Bancorp
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Turning around its losses of last year, California City Bancorp, the holding company parent of California City Bank in Orange, posted net income for the third quarter and the first nine months ended Sept. 30. For the quarter, earnings reached $51,000, compared with a loss of $17,000 in last year’s third quarter. In the first nine months, profits were $109,000, compared with a loss of $81,000 for the same period last year.
As of Sept. 30, total assets were $35.3 million, a 3% increase over $34.4 million in assets a year earlier.
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