Alliance Bank Announces First Quarter 2001 Results.Business Editors CULVER CITY Culver City, city (1990 pop. 38,793), Los Angeles co., S Calif., a residential suburb of Los Angeles; inc. 1917. It is a center of the U.S. motion-picture industry, whose roots in the city date to c.1915. Its chief manufactures are rubber products and computers. , Calif.--(Business Wire)--April 20, 2001 Alliance Bank (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ABCU ABCU Auto Body Credit Union ) announced earnings of $420,000 in the first quarter of 2001, slightly behind the $455,000 earned for the same period last year. Earnings per share were $.09 on the 4,504,079 shares outstanding against $.10 on 4,352,079 shares one year earlier. Total assets at March 31, 2001 were $127 million. "Alliance is on target to meet its earnings goals for this year," said Curtis S. Reis, chairman and president. "We are an asset sensitive bank, meaning that in a declining interest rate market loan rates tend to drop faster than deposit rates, principally CDs. As planned, we are seeing a reduction in construction loan activity." Positive developments include a significant increase in commercial and SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government loans. Our Newport Beach Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. office is expected to convert to a branch during the second quarter of this year. The quality of our loan portfolio remains high and we have experienced no significant problems to date due to energy or economic reasons," Reis remarked. Alliance Bank is a business-oriented commercial bank serving Southern California. To receive a copy of the annual report or to be put on the bank's mailing list, contact Lyn Caron, executive vice president, at 310/258-9312 or by email: lcaron@allbank.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion