Plaza Bank’s Profits Up for Q3Thursday, December 6, 2012
Irvine-based Plaza Bank reported third-quarter net income of $860,000, more than double its year-earlier profit.
The bank had quarterly net interest income of $3.3 million after making provisions for possible loan losses. That was a 9% increase from a year ago.
Noninterest income increased 62% to $1.4 million.
Plaza Bank had about $413.2 million in assets as of the end of September, up 18% from a year earlier.
It was ranked as the 10th largest bank based in Orange County in terms of assets.
Plaza Bank’s net loans at the end of the quarter totaled $306 million, up 23%.
Total deposits have grown 21% for the year through September to $346.7 million.
The bank had a profit of $1.8 million for the first nine months of this year, a 42% increase from the same period a year ago.
Net interest income for the nine months was $9.6 million, up 19%, and noninterest income grew 37% to $4.2 million.