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Beach Business Bank: Beach Business Bank Reports Earnings and Continuing Growth in Loans & Deposits
MANHATTAN BEACH, CA (MARKET WIRE) Beach Business Bank (OTCBB: BBBC) (the "Bank") reports 2007 net earnings of $595,000 with strong balance sheet growth from the prior quarter and prior year. Earnings of $1,045,000 had been recorded in 2006. Total assets increased 56.5% to $213.9 million from $136.7 million on December 31, 2006. Total loans increased 65.5% to $187.7 million from $113.4 million on December 31, 2006. Total deposits increased 74.6% to $172.7 million from $98.9 million on December 31, 2006. Non-interest bearing demand deposits totaled $19.5 million at year-end 2007, an increase of 127.5% over year-end 2006.