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Thursday, Mar 28, 2024
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First Pacific Bank Assets at $255M

First Pacific Bank of California reported net profits of $705,000 for the third quarter, more than double what it made in the like quarter of 2004. For the nine months ended Sept. 30, the four-office bank reported net profit of $1.6 million, compared with $824,487 for the like period of 2004.

Total assets grew to $255.2 million; total loans increased to $227.8 million, and deposits rose to $210.4 million, all record highs, according to the bank.

Chief Executive Officer Vince Siciliano said the bank, which opened in 2000, plans continued expansion this year, and will open a fifth office in East County in mid-2006.

Mike Allen

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