Charter Pacific Bank Cuts ’91 Profit to $1.3 Million

Charter Pacific Bank said it reduced its 1991 profit to $1.3 million, from the originally reported $1.7 million, after setting aside additional reserves for loan losses.

The Agoura Hills-based bank, which also has offices in Calabasas and Beverly Hills, said it expects to announce its complete revised financial results for 1991 within three weeks.

The bank focuses on real estate construction lending and credit processing services for specialty retailers.