Baltimore's BCSB Bankcorp plans restructuring
Daily Record, The (Baltimore), Mar 22, 2007 by Daily Record Staff
BCSB Bankcorp Inc., the holding company for Baltimore County Savings Bank, said it will restructure its balance sheet in an effort to reduce interest-rate risk and improve its profitability. The bank, which was one of several victimized by a check-fraud scheme last year, said it will reduce its investment portfolio by selling approximately $180 million worth of mortgage-backed securities and investment securities, and use the proceeds to prepay $104 million of Federal Home Loan Bank advances.
The remainder will be invested and, over time, used to pay expected outflows of certificate of deposit accounts.
Copyright 2007 Dolan Media Newswires
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