TransWorld Earnings Drop 5% to $904,000

TransWorld Bank, a Sherman Oaks bank, said its earnings in the fourth quarter were $904,000, down 5% from $954,000 in the fourth quarter last year.

For the year, earnings were $3.7 million, down 8% from $4 million last year.

Total assets as of Dec. 31 were $379,516, up 5% from $359,924 last year.

TransWorld Bank has signed an agreement with Glendale Federal Bank under which TransWorld will be acquired for $63 million.