Pacific National Bank: The Newport Beach bank,...

Pacific National Bank: The Newport Beach bank, a wholly owned subsidiary of PNB Financial Group, reported profit of $553,000 for the second quarter of fiscal 1995 that ended June 30, the highest quarterly net income since the bank’s inception in 1982. The bank recorded a net loss of $744,000 in the second quarter a year ago. Profit for the first half was $793,000, compared with a year-earlier net loss of $967,000. The bank attributed the improved earnings to an increase in volume at the bank’s residential mortgage operation along with a decrease in operating expenses, and an increase in the bank’s net interest margin. Total assets on June 30 were $165.4 million, down 6% from $176.2 million at the same time last year.