TransWorld Bancorp Reports Earnings Increase

TransWorld Bancorp, a bank holding company based in Sherman Oaks, reported a 16% rise in earnings for the second quarter ended June 30. Net income was $625,000, compared to $539,000 for the same period in 1993.

A $300,000 charge for earthquake repairs in the first quarter cut into net income for the six-month period. Through June 30, earnings totaled $893,000, down 10% compared to $989,000 for the first six months of 1993.

As of June 30, total assets gained 12% to $363 million, compared to $325 million a year ago. Deposits climbed 12% to $333 million from $297 million at the end of the second quarter in 1993.