Byl bancorp expects to take $727,000 4th-quarter charge
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BYL Bancorp said Friday it plans to take a charge of $727,000, or 28 cents a share, in the fourth quarter on the anticipated sale of a pool of securities at a loss. In the fourth quarter of
the previous year, the Orange-based company earned $892,000, or 35 cents a share, including expenses of about 23 cents a share for conversion of data processing systems and year 2000
readiness costs. Excluding the items, the company earned about $1.5 million, or 58 cents a share. BYL’s stock closed at $14.19, up 6 cents a share, in Nasdaq trading. MORE TO READ