Earnings Soar at FCB Bancorp

FCB Bancorp reported its net income for the second quarter ended June 30 rose to $1.1 million or $0.33 per share, a 70 percent increase from the like period last year when the bank earned $629,000 or $0.29 per share. FCB, which operates as First California Bank, attributed some of that increase to the acquisition last year of South Coast Bancorp, which also helped to increase the bank’s assets to over $500 million. FCB said its net interest income for the second quarter of 2006 was $5.2 million, a 56 percent increase over the same period last year. FCB, which previously announced a merger with Mercantile National Bancorp, said it expects the deal to close in the fourth quarter.