Quarterly Earnings Off 32% at BYL Bancorp

BYL Bancorp, the Orange-based holding company for the BYL Bank Group, said net income for the fourth quarter fell 32% to $892,000 from $1.3 million a year ago.

Net income for the year declined 24% to $3.1 million, or $1.21 a share, from $4.1 million, or $1.55 a share. The company attributed the lower results to one-time expenses for converting data processing systems and preparing for Y2K. Total assets increased 11% to $353.7 million.