Bank Reports Solid Quarter

Alta Pacific Bancorp., the parent company of AltaPacific Bank, has reported a net income of $1.1 million, or 19 cents per share, for the second quarter.

During the first six months of the year, the financial institution – which has a strong presence in the Inland Empire – reported a net income of $2 million, or 36 cents per share, according to a statement released Friday.

As of June 30, Alta Pacific Bancorp’s assets totaled $356,841,000, a drop of $6.6 million from March 31 but an increase of $11.1 million compared with Dec. 31, 2015.

Loans totaled $232,372,000, a quarterly drop of $7.4 million but an increase of nearly $7 million compared with the end of last year. Deposits totaled $265,908,000 on June 30, a quarterly increase of $6.7 million and a $3.5 million increase compared with Dec. 31, 2015, according to the statement.

Alta Pacific Bancorp is based in Santa Rosa. It has an office in Temecula, an office in Riverside that it opened in February and it’s currently moving its Inland Empire headquarters from Rancho Cucamonga to Ontario, according to the statement.