American West Bank Posts Earnings of $101,079
American West Bank reported 1985 earnings of $101,079, or 17 cents a share, for its first full year of operations, after a loss of $150,000, or 25 cents a share, for the 10 months the bank was in business during 1984.
On Dec. 31, the Encino-based bank had a net worth of $5.8 million, or 18% of total assets, which were $32.6 million. A year earlier, it had a net worth of $5.7 million, or 32% of assets, which then totaled $17.9 million.
Bank President Robert W. Kagy said the 1984 loss was primarily because of start-up expenses. He said the 1985 profit resulted from business that came in because the one-branch bank settled into more visible permanent quarters on Ventura Boulevard.
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