Bank of New York Co. expects to earn $45 million to $50 million in pretax profits from the retail branches it plans to acquire from Barclays Bank of New York.

Those figures compare with Bank of New York's $177 million pretax and $122 million after-tax profit last year, and $80 million after-tax profit in the first quarter of 1992.

Bank of New York gave the projection in a registration statement filed Thursday with the Securities and Exchange Commission for a public offering of eight million shares of common stock.

The offering would raise $335 million at Thursday's closing share price of $41.875.

286 Metropolitan Branches

The bank said $150 million of the proceeds will be used in the purchase of 63 Barclays branches, and the rest for general corporate purposes.

The purchase price of the branches was not disclosed when the deal was announced Wednesday.

Bank of New York will add $2.2 billion in assets and increase its New York metropolitan branch network to 286 locations with the purchase of the offices from the New York subsidiary of London-based Barclays Bank PLC.

The SEC filing said that in addition to the $2.2 billion in assets, the bank will also acquire $2.2 billion in deposits, $400 million of loan commitments, $600 million in short-term interest-earning assets, and operating leases at some branches

The bank said its expects to gain significant cost savings through consolidation.

Renowned Cost Cutter

Bank of New York is known for its expense controls, having wrung $200 million in annual savings from its 1988 merger with Irving Trust Co.

Analysts said Bank of New York got a good deal for the branches.

"They're probably paying a very modest premium," said John Leonard, an analyst at Salomon Brothers Inc.

The Bank of New York said in its filing that it is looking for other branch acquisitions in the New York suburbs.

Goldman, Sachs & Co., Merrill Lynch & Co., Morgan Stanley & Co., and Dean Witter Reynolds Inc. will manage the offering, the bank said.

The underwriters have been granted an option to purchase up to an additional 1.2 million shares to cover over-allotments.

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