BAY FINANCIAL CORP &lt;BAY> 3RD QTR FEB 28

  Shr loss 1.34 dlrs vs profit two cts
      Net loss 4.5 mln vs profit 46,000
      Revs 7.6 mln vs 8.9 mln
      Nine months
      Shr loss 1.41 dlrs vs loss two cts
      Net loss 4.7 mln vs loss 76,000
      Revs 30.2 mln vs 23.8 mln
      NOTE:1986 includes gain on disposition of investments of
  2,454 dlrs in 3rd qtr and 5,306 dlrs in nine months
  respectively. 1987 includes gain on disposition of investments
  of five dlrs in 3nd qtr and 7,052 dlrs in nine months.
  

