Quaker City Bancorp's earnings jumped 56% in the fiscal year ended June 30, to $3.6 million.

Officials at Quaker City, which converted from a mutual to stock thrift two years ago, said improvement in the net interest margin and a 14% increase in assets drove the bottom-line growth.

"During the past two years we have reduced the dollar amount of nonperforming assets by one-third," said Rick McGill, chief executive of the $725 million-asset company. "We will, however, be continuing our focus on controlling problem loans in a Southern California economy that has not yet fully recovered."

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