TransWorld Bancorp Profit Surges in Quarter

TransWorld Bancorp, the Sherman Oaks-based holding company for TransWorld Bank, said its third-quarter profit surged 78% from a year earlier, to $447,000 from $251,000, because of lower loan-loss provisions and other expenses.

Through nine months ended Sept. 30, TransWorld’s net income climbed 13%, to $1.43 million compared with $1.27 million the previous year.

The bank, which has nine offices, reported assets of $251.3 million as of Sept. 30, up 3% from $243.1 million a year earlier.