Mariners Bank Enjoys Growth in Net Income

Mariners Bank in San Clemente said net income for 1986 rose 24.4% to $355,817 from $286,080 the previous year.

Net earnings for the fourth quarter grew 21.1% to $99,236 from $81,930 in the previous year’s final quarter.

The bank, which concentrates on construction loans for luxury homes in south Orange County, has been growing slowly but consistently, said Richard Korsgaard, the bank’s president.

The bank’s assets at the end of the year were $38 million, a 39% increase over the previous year’s assets of $27.3 million. Total loans grew 16.6% to $21.1 million from $18.1 million in the previous year, while total deposits rose 42% to $35.2 million from $24.8 million.