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PACIFIC INLAND BANCORP POSTS EARNINGS GAIN FOR YEAR ENDED 1991

 PACIFIC INLAND BANCORP POSTS EARNINGS GAIN FOR YEAR ENDED 1991
 ANAHEIM, Calif., March 11 /PRNewswire/ -- Pacific Inland Bancorp, the financial services holding company headquartered here, has reported consolidated fourth quarter net earnings of $479,000, bringing consolidated net earnings for the year ended Dec. 31, 1991 to $1,031,000 or $0.80 per share, compared to earnings of $41,000 or $0.03 per share for the year ended 1990.
 The Bancorp's principal subsidiary is Pacific Inland Bank, a full- service commercial bank serving small- to medium-sized business in Orange, Riverside and Los Angeles counties. The bank, together with its wholly owned mortgage banking subsidiary, PIB Mortgage Co., realized consolidated net earnings of $331,000 for the quarter and $682,000 for the year ended Dec. 31, 1991.
 PIB Mortgage, which started business in late 1989, has continued to originate residential mortgages through its three offices in Northern and Southern California with loan originations for the year ended 1991 totaling $812,453,000, as compared to $233,299,000 for the year ended 1990. Ronald L. Askew, president and chief executive officer of the bank, indicated that PIB Mortgage's significant growth in loan production has been the result of both increased market share in California and the recent increase in refinancings spurred by lower interest rates.
 -0- 3/11/92
 /CONTACT: Ronald L. Askew, president and CEO of Pacific Inland Bancorp, 714-535-2210; or R. Michael Ervin of Ervin Advertising & Public Relations, 310-598-3345, for Pacific Inland Bancorp/ CO: Pacific Inland Bancorp ST: California IN: FIN SU: ERN


DM-CH -- LA023 -- 7358 03/11/92 14:26 EST
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Publication:PR Newswire
Date:Mar 11, 1992
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