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4Q deposits up, loans flat at Atlantic Pacific

SANTA ROSA, Feb. 14, 2008 – Atlantic Pacific Bank reported its total deposits jumped 37 percent to $16.9 million during the fourth quarter of 2007, while total loans remained flat, dropping 2 percent to $30.3 million.

The bank recorded a net loss of $106,000 during the quarter, an improvement from a $225,000 loss during the previous quarter.

The bank reported $42.8 million in total assets at Dec. 31, up 12 percent from Sept. 30. Atlantic Pacific opened in July, 2006, and is based in Santa Rosa.