Eldorado Sees Lower Earnings Than Expected
<i> Dow Jones</i>
Eldorado Bancshares Inc. expects to report second-quarter net income of $1.5 million, or 8 cents a share, below earlier predictions. The Laguna Hills bank holding company attributed the results for the second quarter ended June 30 to lower residential-mortgage volume.
Eldorado also named Dennis Meroney to be head of Eldorado Bank’s mortgage division, succeeding William Rast, who resigned. Meroney most recently ran his own consulting company, specializing in mortgage banking.
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