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Capital Bank profit falls in 3rd quarter.


Capital Bank profit falls in 3rd quarter

Capital Bank of California The Bank of California was founded in San Francisco, California on July 5, 1864 by William Chapman Ralston. It was the first commercial bank in the Western United States, the second-richest bank in the nation, and considered instrumental in developing the American Old West.  reported third-quarter results of $530,000, or 19 cents a share, down from $862,000, or 31 cents a share, for the quarter ended Sept. 30, compared to the same period a year ago.

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, president and chief executive officer of the $274 million (assets) bank, attributed the quarter's decline to increased personnel expenses.

The bank, however, announced record net income of $2.2 million, or 78 cents a share, for the nine months ended Sept. 30, a 43 percent increase from the $1.5 million, or 55 cents a share, the bank earned in the same period a year ago.
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Copyright 1989, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Los Angeles Business Journal
Date:Oct 23, 1989
Words:113
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