BankAmerica Profits Fall 28.6%

Associated Press

BankAmerica Corp., the nation's second-largest banking company, said today its third-quarter profits fell 28.6% despite a pretax gain of $310 million on the sale of its world headquarters property.

Most other major banking companies have reported double-digit profit increases for the third quarter. The San Francisco-based parent of Bank of America, the nation's largest bank, said its net income fell to $65 million, or 31 cents a share, in the July-September period from $91 million, or 47 cents a share, a year ago.

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