Western Security Bank Reports Doubling of Profit

Western Security Bank, a one-office bank in Toluca Lake, said its second-quarter profit more than doubled from a year earlier, to $356,100 from $144,800.

For the six months that ended June 30, Western Security’s earnings jumped to $605,500 from $261,900 in the comparable period of 1988.

The bank said its assets as of June 30 totaled $65.3 million, up 4% from $62.6 million a year earlier, and its deposits rose 2% to $58 million from $56.7 million.