Pacific Crest Capital Reports 2nd-Quarter Profit
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Pacific Crest Capital Inc., an Agoura Hills-based thrift holding company, reported net income of $198,000 for the second quarter ended June 30, compared to a $629,000 loss reported during the same period a year ago.
Profit for the first six months of the year was $358,000, up from net income of $342,000 for the first two quarters of 1993.
The company also reported total interest income of $5.17 million for the second quarter, down 6% from the $5.48 million in income reported for the second quarter of 1993.
Non-performing assets at the end of the second quarter totaled $13.7 million, of which $1.2 million was attributed to the Jan. 17 Northridge earthquake. The non-performing assets total was down 11% from the $15.2 million reported Dec. 31.
Pacific Crest’s total assets for the recent quarter were $272 million, up from $232 million a year earlier.
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