Valencia National Bank Reports Profit Decline
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Valencia National Bank posted earnings of $103,492 in the third quarter that ended Sept. 30, down 40% from the $170,146 profit the Newhall-based bank reported a year earlier.
For the first three quarters of 1994, Valencia National posted earnings of $230,905, compared to year-earlier net income of $86,332. Assets totaled $79.5 million on Sept. 30, up 14% from $70.1 million on the same date in 1993.
The three-branch bank said its third-quarter earnings from 1993 were later reduced to reflect an accounting change.
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