Fri04182014

Business & Real Estate

Bank of Los Altos reports profit for year

The Bank of Los Altos has released unaudited 1996 figures showing a net income of 22 cents per share for the fourth quarter ending Dec. 31, compared to a loss of 17 cents per share for the same quarter in 1995.

Total assets were $88.6 million, an increase of $18.7 million or 27 percent over Dec. 31, 1995. Total loans and leases were $50.2 million for an increase of $19.8 million or 65 percent compared to Dec. 31, 1995.

"Our results reflect focus and commitment in providing the highest level of banking service to individuals, and is a private business bank for local businesses and their owners," said Jim Wall, president and chief operating officer.

"Other banks spend all their time on mergers, bank closings and firing people while we remain committed to a balanced emphasis on customers, investors, employees and our community," Wall said.

The bank of Los Altos has two locations in Los Altos. One at Third and Whitney streets in the downtown, and the main office at the corner of El Camino Real and San Antonio Road. The Bank also has a web site which can be found at: www.bankoflosaltos.com

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