Pan Pacific Bank (PPFC) in Fremont, Calif., reported another profitable quarter.

The $113.3 million-asset bank earned $330,000 in the fourth quarter, compared to a $544,000 loss a year earlier. Full-year earnings of $923,000 marked a reversal from the $1.3 billion that Pan Pacific lost in 2011.

Interest income rose 15% from a year earlier, to $1.1 million, despite a 4% decrease in the bank's loan portfolio. The bank did not record a loan-loss provision in the fourth quarter

The bank's risk-based capital ratio was 17.69% at Dec. 31, compare to 14.53% a year earlier.

Noninterest income was $498,000 in the fourth quarter, up significantly from $38,000 a year earlier.

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