AltaPacific Bank posts second straight annual profit

<p>AltaPacific Bank reported its second consecutive annual profit since being founded in 2006.</p><p>The Santa Rosa bank's earnings doubled in 2010, jumping to $902,000 from $448,000 in 2009.</p><p>AltaPacific Bank is a commercial bank catering to businesses and has a single branch.</p><p>Its total assets dipped from $83.7 million in 2009 to $79.8 million last year.</p><p>The bank's total loans remained almost flat in 2010, closing the year with $61.56 million compared to $61.52 million in 2009.</p><p>Its deposits declined about 6.8 percent to $47.1 million at the end of 2010, which the bank attributed to a decline in its certificates of deposit.</p><p>The bank's total risk-based capital ratio, which is a key indicator of financial health, was 36 percent at the end of 2010 — more than three times above the 10 percent required to be considered well-capitalized by bank regulators.</p><p>“Our board of directors and officers have maintained a disciplined approach in managing the risks associated with our industry,” Charles Hall, the company's president and chief executive, said in a statement. “As a result, we feel the company is well positioned as it looks for potential acquisition opportunities.”</p>