Dana Niguel Bank Reports 2nd-Quarter Net Up 56%

Dana Niguel Bank in Dana Point reported Monday that second-quarter net income was $50,000, a 56% increase over $32,000 reported for the same quarter last year. For the first six months, the bank posted net income of $142,000, up 49.5% from $95,000 in the same period last year.

The 3 1/2-year-old bank had $31.7 million in assets at the end of June, up 27% from $24.9 million a year ago.

The bank’s loan portfolio at the end of June rose 23% to $16.7 million from $13.6 million a year earlier, and its total deposits grew 18.5% to $26.3 million from $22.2 million.