San Diego Trust Bank reported nine-month profits of $426,000 compared with the same period last year, when it lost $944,000.
As of Sept. 30, total assets at the 2-year-old bank stood at $78.9 million, up from $53.6 million on Sept. 30, 2004.
Loans were $50.7 million, compared with $30.2 million in the prior year’s third quarter, while deposits were $67.3 million, compared with $43.7 million for the like period.
The single-office bank that opened in October 2003 had no delinquencies or problem loans to report.
, Mike Allen