APSB Bancorp Profits for 1st Quarter Rise 18%

APSB Bancorp, the North Hollywood parent of American Pacific State Bank, said its profits for the first quarter, which ended March 31, jumped 18% to $437,000 from $371,000 a year earlier. The bank said its assets rose 9% to $192 million on March 31, compared with $176 million twelve months earlier. APSB attributed its asset growth to the opening of a new office, its fifth, in Woodland Hills.