Alliance Bank Reports Nine Month 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)--Nov. 3, 2000 Alliance Bank (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ABCU ABCU Auto Body Credit Union ) announced that earnings for the nine months ended September 30, 2000 were up 71 percent from the same period last year, $1,605,000 vs. $937,000. On a diluted per-share basis, earnings rose to 36 cents from 21 cents, one cent lower than the undiluted number. During this same period total assets increased to $122 million from $113 million one year earlier. "We have begun to slow our very rapid growth," stated Curtis S. Reis, Chairman and President. "While we see almost unlimited potential in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, , we need to live within our means. We have more than doubled our size in less than four years while more than tripling earnings in that same period. The Southern California economy has been good to us. However, all good things cannot last forever and we are being somewhat more vigilant. With significant changes occurring in Washington, we want to be sure the economic baton is passed smoothly." Alliance Bank is a business-oriented commercial bank serving Southern California. It offers traditional commercial loans and lines of credit, asset-based lending Asset-Based Lending A business loan secured by collateral (assets). The loan, or line of credit, is secured by inventory, accounts receivable and/or other balance-sheet assets. Also known as "commercial finance" or "asset-based financing". , Small Business Administration loans, financing for construction and real estate projects, and a variety of deposit and cash-management products and services. |
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