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Mission Oaks posts 24th profitable quarter


Last updated 8/7/2008 at Noon

TEMECULA — Mission Oaks Bancorp, whose principal subsidiary is Mission Oaks National Bank, reported its 24th consecutive profitable quarter for the period ending June 30. In early July, Mission Oaks National Bank opened a branch inside Major Market in Fallbrook.

In the second quarter, the Temecula-based community bank reported earnings of $158,000, or $0.04 per share, compared with earnings of $576,000, or $0.13 cents per share, from the same period a year ago.

During the most recent quarter, the bank set aside $534,000 as a provision for loan losses. A year ago, the bank set aside $110...

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