Bank reports nearly $11 million in net income

American Business Bank has announced net income of $10.8 million – $1.16 per share – for the quarter ending September 30.

The bank reported $9.5 million in net income, or $1.02 per share, for the quarter that ended June 30, compared with $10.2 million, or $1.10 per share, exactly one year earlier, the Los Angeles-based financial institution reported recently.

Net income for the first nine months of this year was $30.8 million, or $3.31 per share. Year-over-year, that was a decrease of $1.8 million or 6%, compared with the first nine months of 2023.

Based in Los Angeles, American Business Bank has branch offices throughout Southern California, including one in Corona and another in Ontario.