Western Bancorp Says Profit Will Fall Short

Western Bancorp said fourth-quarter profit will fall 5% below analyst estimates because of a drop in interest rates and warned that 1999 earnings will remain under pressure. The Newport Beach-based owner of Southern California Bank and Santa Monica Bank was expected to earn 45 cents a share, based on the average estimate of four analysts surveyed by First Call Corp. A 5% shortfall would amount to 2.25 cents, lowering profit to 42.75 cents. Western Bancorp shares fell $3.19 to close at $29.13 in Nasdaq trading.