American Pacific Bank Year-to-Date Revenue Up 19%.Business Editors PORTLAND Portland, town, England Portland, town (1991 pop. 12,945), Dorset, S England. It is on the Isle of Portland, a small rocky peninsula. Portland stone has been used in St. Paul's Cathedral and other important London buildings. Lobsters and crabs are harvested. , Ore.--(BUSINESS WIRE)--Oct. 17, 2001 David Chen, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of Pacific Bank (Nasdaq:AMPB AMPB Amphotericin B AMPB Association of Micro-Power Broadcasters (Berkeley, CA) ) today announced that the total interest income for the nine months ended September September: see month. 30, 2001 was $5,469,264. This was 19% higher than the same nine month period last year. Net earnings for the quarter ended September 30, 2001 was $90,353 or $0.06 per share as compared to $108,032 or $0.08 per share for the same quarter last year. This was mainly due to the Bank's expansion with the new Wood Village Wal-Mart  Editing of this page by unregistered or newly registered users is currently disabled due to vandalism. in-store branch and higher interest
expenses.Net earnings for the nine months ended September 30th, 2001 were $316,882 or $0.22 per share as compared to $361,718 or $0.26 per share for the same period last year. Mr. Chen said that, coinciding co·in·cide intr.v. co·in·cid·ed, co·in·cid·ing, co·in·cides 1. To occupy the same relative position or the same area in space. 2. To happen at the same time or during the same period. 3. with revenue growth, assets grew about 5%, from $71.3 million a year ago to $74.9 million as of September 30, 2001. The Bank has achieved steady growth since 1996. Deposits grew a modest 6.5 % from $59.1 million a year ago to $63.0 million. Despite the economic downturn Downturn The transition point between a rising, expanding economy to a falling, contracting one. downturn A decline in security prices or economic activity following a period of rising or stable prices or activity. in the northwest, the Bank continues to maintain a high quality loan portfolio as evidenced in the past due and non-accrual loans to total loans percentage of only 0.99% as compared to the peer group of 1.73%. The Bank continues to be well-capitalized with the risk-based capital ratio Risk-based capital ratio Bank requirement that there be a minimum ratio of estimated total capital to estimated risk-weighted asset. at 10.96%. For further information, contact David Chen.
American Pacific Bank
Quarter Quarter
Ended 9/30/01 Ended 9/30/00
$ $
Unaudited Unaudited
Total Assets 74,929,586 71,390,615
Average Assets 79,931,879 62,606,735
Total Deposits 63,036,585 59,197,790
Total Loans (after Loan Loss
Reserve & Unearned Income) 64,313,801 63,893,251
Total Equity 6,558,014 6,044,408
Average No of shares Note 1 1,467,704 1,413,926
Quarter Quarter Nine Months Nine Months
Ended Ended Ended Ended
9/30/01 9/30/00 9/30/01 9/30/00
$ $ $ $
Unaudited Unaudited Unaudited Unaudited
Interest Income 1,686,948 1,692,452 5,469,264 4,585,006
Interest Expense (907,522) (852,032) (3,055,386) (2,143,346)
Net Interest Income 779,426 840,420 2,413,878 2,441,660
Provision for
Loan Loss Reserve (28,105) (93,293) (68,105) (266,470)
Other Income 197,717 157,119 659,795 545,186
Other Expenses (803,304) (736,049) (2,488,232) (2,183,765)
Provision for taxes (55,381) (60,165) (200,454) (174,893)
Net Income 90,353 108,032 316,882 361,718
Per Share Data:
Earnings Per Share 0.06 0.08 0.22 0.26
Book Value 4.47 4.27 4.47 4.27
Note 1 : The Bank did a 11 for 10 split on December 29, 2000. The
Per Share Data for September 2000 were adjusted to reflect this split.
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