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PACIFIC WESTERN NATIONAL BANK ANNOUNCES A 16 PERCENT RETURN ON EQUITY

PACIFIC WESTERN NATIONAL BANK ANNOUNCES A 16 PERCENT RETURN ON EQUITY
 PICO RIVERA, Calif., Feb. 6 /PRNewswire/ -- The board of directors of Pacific Western National Bank (OTC Pink Sheets: PACW) announced net income after tax of $1,102,713 for 1991, compared to $1,250,133 for 1990. Earnings per share for 1991 were $1.77 and for 1990 $2.01 (after adjusting for a three-for-two stock split in 1991). Return on equity of 16.3 percent was down from the 22.7 percent obtained in 1990.
 Dana Godfrey, president and chief executive officer, said, "The bank's performance was considered outstanding in view of current economic times.
 "Pacific Western National Bank reduced its total assets from $69.7 million in 1990 to $63.3 million in 1991. Our move in this direction enabled us to more effectively maximize the bank's earning asset capability," Godfrey said. "Our net income declined in 1991 less than 12 percent from 1990 levels. This modest reduction came in spite of increases in regulatory fees of 80 percent, compressed interest margins and a decline in loan demand."
 PACIFIC WESTERN NATIONAL BANK
 FINANCIAL SUMMARY
 For the period ended Dec. 31
 (000s)
 1991 1990
 Total loans (gross) $54,266 $57,958
 Total assets $63,330 $69,707
 Total deposits $55,101 $62,313
 Total equity $7,862 $6,759
 Net income after tax $1,103 $1,250
 Earnings per share $1.77 $2.01
 Return on equity 16.3 pct. 22.7 pct.
 -0- 2/6/92
 /CONTACT: Dana Godfrey, president of Pacific Western National Bank, 310-948-3446/ CO: Pacific Western National Bank ST: California IN: FIN SU: ERN


KJ-JL -- LA030 -- 7971 02/06/92 18:10 EST
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Publication:PR Newswire
Date:Feb 6, 1992
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