TransWorld Bancorp’s 4th-Quarter Earnings Dip

TransWorld Bancorp saw its earnings fall 5% in the fourth quarter that ended Dec. 31.

The Sherman Oaks-based bank posted fourth-quarter earnings of $904,000, compared to a $954,000 profit in the same period a year earlier.

For all of last year, TransWorld’s net income fell 8% to $3.7 million, down from $4 million in 1995.

Total assets grew 5% to $379.5 million as of Dec. 31.

Glendale Federal Bank plans to acquire TransWorld for $63 million. The transaction, subject to shareholder and regulatory approval, is expected to happen in the second quarter.