Plaza Bank, the Irvine, Calif.-based institution that acquired assets and liabilities of failed SouthwestUSA Bank of Las Vegas last year, on Monday reported that it reversed losses for the year and the fourth-quarter.
In the fourth quarter, the bank earned $100,000 or less than one cent a share, compared with a loss of $589,000 or 5 cents a share in the same period a year earlier.
For the year, the bank earned $3.9 million or 28 cents a share, compared with a loss of $1.9 million or 23 cents a share in the prior year.
The bank, which has shares traded in the Over-the-Counter Bulletin Board, did not trade on Monday. It last closed at $1.90 a share.
Contact reporter John G. Edwards at email@example.com or 702-383-0420.