had sold 4.3 million shares of Bay View Capital Corp. common stock, and expects a $30.1 million pretax gain in the fourth quarter as a result.

The shares were held by Imperial's FMAX Holdings LLC.

Imperial said it expects about $86.3 million in total cash proceeds, for a net gain of 55 cents per diluted share. The stock sale was part of a strategy to "exit noncore businesses and investments," the company said.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.