BYL Bancorp: The parent company of Bank...
BYL Bancorp: The parent company of Bank of Yorba Linda posted record net income of $680,000, or 40 cents a share, for the fourth quarter, a 76% increase over $386,000, or 24 cents a share, earned for the last three months of 1996. For the year, the company earned a record $2.1 million, or $1.28 a share, a 75% increase over earnings of $1.2 million, or $1.04 a share, for the previous year.
Total loans and other assets rose 41% to $164.7 million at the end of December from $116.5 million a year earlier. BYL has a deal pending to acquire De Anza National Bank in Riverside, which would give it $73 million more in assets.
The company said it will pay a cash dividend of 5 cents a share at the end of March to stockholders of record on March 7.
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