American Pacific State Bank’s Profits Take Dip

American Pacific State Bank, based in Sherman Oaks, said its first-quarter profit dipped 7% from a year earlier because of expenses related to the earthquake.

For the three months ended March 31, American Pacific earned $524,000, compared with a profit of $563,000 a year earlier. However, the latest quarter included a $200,000 charge for the earthquake, and the year-earlier figure included a $100,000 gain due to an accounting change. As of March 31, American Pacific reported total assets of $241 million, up 11% from $218 million a year earlier.