Far West Financial’s Earnings Climb 6.5%

Far West Financial Corp., the Newport Beach holding company for Far West Savings & Loan Assn. reported net earnings of $4.9 million for the third quarter, a 6.5% increase from $4.6 million. Total revenue in the third quarter was $85 million, up 17% from $72.3 million a year earlier.

Net earnings for the first nine months were $18.2 million, up 55% from $11.7 million. Revenue for the period of $255.8 million was up 23% from $207.8 million.

The S&L;, which provides virtually all of the holding company’s earnings and revenue, posted total assets of $2.9 billion as of Sept. 30, a 26% increase from $2.3 billion a year earlier. Savings deposits at the end of the quarter totaled $2 billion, up 24% from $1.6 billion.