BYL Bancorp

The Orange-based holding company for the BYL Bank Group said second-quarter net income dropped 37.4% to $427,000, or 17 cents a share, from $682,000, or 27 cents a share, a year ago. The earnings for the most recent quarter included an $800,000 pretax charge related to writing down its 1999 interests in packaging small-business loans and selling them on Wall Street, a process known as securitization.