Western Security Bank Posts 50% Quarterly Rise

Western Security Bank, a one-branch financial institution in Toluca Lake, said its second-quarter earnings rose 50%, to $63,000, from the same period of 1985. The bank’s assets totaled $30.2 million at mid-year, up 56%. A year earlier, earnings were $42,000 on assets of $19.3 million. Per share, earnings were 15 cents in the most recent quarter versus 10 cents a year ago. The bank also had a net worth of $3.9 million, or 13% of assets, as of the end of June.

Western emphasizes business and professional lending. It said the improved showing is mainly due to a stable staff--no one has left since the bank opened in March, 1984--and business brought in by board members.

For the first six months of the year, Western’s earnings rose 209% to $136,000, or 32 1/2 cents a share.