Pacific National Bank: The Newport Beach independent...

Pacific National Bank: The Newport Beach independent bank reported that its net income rose 30% to $847,000 for 1989, up from $654,000 for 1988. Revenue increased 17% to $9.5 million from $8.2 million in 1988. Total assets at the end of 1989 rose 11% to $115.9 million from the 1988 year-end figure of $104.3 million. For the fourth quarter, net income totaled $336,000, 12% higher than the $299,000 posted in the corresponding period in 1988. Revenue rose 4% to $2.5 million from $2.4 million.