Liberty National Bank Reports Drop in First-Quarter Profit
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Liberty National Bank, the Huntington Beach bank, posted a profit of $171,805, or 18 cents a share, for the first quarter, down from earnings of $486,587, or 50 cents a share, for the same period of 1992. The bank attributed the lower earnings to the lingering recession in Southern California and the resulting increased contributions to the bank’s allowance for loan losses. Assets increased 2% to $167.8 million.
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