TransWorld Bancorp Posts 5% Rise in Quarterly Profit
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TransWorld Bancorp posted a 5% increase in its quarterly earnings, in what will be the bank’s final quarter before being purchased by Glendale Federal Bank.
TransWorld, based in Sherman Oaks, has been an independent bank for 44 years but is expected to conclude its sale to Glendale Federal this week.
In the quarter that ended March 31, TransWorld posted net income of $810,000, up from a $770,000 profit a year earlier.
Total assets as of March 31 were $376.4 million, up 2% from a year earlier.
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