TransWorld Bancorp Posts $982,000 Profit in Quarter

TransWorld Bancorp, the Sherman Oaks-based parent of TransWorld Bank, reported record earnings of $982,000 for the second quarter that ended June 30, up 57% from the $625,000 profit reported in the same three-month period a year earlier.

For the first six months of the year, TransWorld reported a profit of $1.96 million, more than double the earnings of $893,000 reported in the same period in 1994.

Assets totaled $394 million as of June 30, up about 9% from $363 million a year earlier. The bank set aside $225,000 for loan losses in the latest quarter, compared to a $256,000 provision in the second quarter of 1994.

TransWorld Bank has 11 branches in Los Angeles and Ventura counties.