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Security Pacific Bank

, formerly Network Bank USA, announced that for the year ending Dec. 31, net income grew to $5 million from $1.8 million compared to the year earlier period. The L.A.-based bank with four branches saw its total assets grow 40 percent to end the year. Deposits increased by 50 percent, to $272.4 million from $181.7 million in the like-year earlier period. Security Pacific Bank announced its name change from Network Bank USA in mid-February.

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Franklin Capital Corp.

completed its acquisition of SurgiCount Medical, Inc., a developer of patient safety devices like the Safety-Sponge System, which allows for accurate counting of surgical sponges. The Santa Monica-based firm will seek stockholder approval at its upcoming annual meeting to change its name to Patient Safety Technologies Inc.

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Whittaker Controls

, a unit of North Hollywood-based Meggitt Aerospace Equipment Group, landed a government contract to provide engineering services for the Air Force’s C-17 repair facility at the Oklahoma City Air Logistics Center. The C-17 repair program is Whittaker’s first engineering services government contract award. Whittaker will provide technical recommendations and management services. Boeing will continue designing and building the C-17s through 2008.

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Health Sciences Group, Inc.

acquired the rights to a patented technology for the production of hydrocolloid sponges. These edible sponges, developed at the Hebrew University of Jerusalem, can be added to a variety of foods to enhance their nutritional value. The L.A.-based nutritional products provider wants to use the sponges in nutritional diet products to target the $40 billion weight loss market.