First National Corp., parent of First National...
First National Corp., parent of First National Bank, reported a 6% increase in third-quarter earnings, to $119,000. For the nine months, the San Diego-based bank reported a 30% rise in profits, to $536,000.
President and Chief Executive Robert Richley said that earnings were boosted by “expense control efforts coupled with improved product pricing.” In addition, the bank subleased more than 80% of its excess space at its new downtown office building and its insurance company absorbed most of the bank’s legal fees in connection with the multimillion-dollar lawsuits filed against it by former investors in fraudulent J. David & Co.
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