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Plaza Bancorp realizes $732,000 gain in Q1 on sale of $10.5M of SBA loans

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Plaza Bancorp realizes $732,000 gain in Q1 on sale of $10.5M of SBA loans

Irvine,Calif.-based PlazaBancorp realized a gain of $732,000 during the first quarter on thesale of $10.5 million of Small Business Administration 7(a) loans.

The companyreported net income of $2.3 million, or 8 cents per share, for the firstquarter, compared to a net loss of $373,000, or 1 cent per share, for theyear-ago period.