Security Pacific Earnings Soar

Security Pacific Corp. today reported an 18.9% increase in third-quarter earnings of $99.9 million, or $1.25 a share, compared to $84 million, or $1.14 a share, for the same period last year.

Security Pacific, the nation’s seventh-largest holding company, is the parent of Security Pacific National Bank, the nation’s eighth-largest bank. The bank reported assets of $58.1 billion, a 17% increase from a year ago. Deposits totaled $33.2 billion, an increase of 4%.