National Mercantile Bancorp in Los Angeles said its third-quarter earnings rose 49% from the same quarter a year earlier, to a record $1.3 million.
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Earnings per share rose 47%, to 19 cents, the $428 million-asset National Mercantile said Friday.
It attributed the growth to a 9% increase in its loan portfolio. Commercial and commercial real estate loans have declined in the last year, but the company has increased its volume of multifamily and construction and land development loans.
