TransWorld Bancorp Profits Drop 19%

TransWorld Bancorp, the Sherman Oaks holding company for TransWorld Bank, said its first-quarter profit fell 19% from a year earlier, to $501,000 from $615,000.

The company noted that its year-earlier results included a one-time, $66,000 gain from the sale of lease rights in the company’s prior headquarters building.

In the quarter ended March 31, TransWorld’s assets totaled $227.3 million, up 4% from $218.5 million a year earlier.