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Westcorp, the holding company for Western Financial...

Westcorp, the holding company for Western Financial Savings Bank in Orange, reported net income of $3.4 million for the third quarter, a 62% increase over $2.1 million earned in last year’s third quarter. Quarterly revenue rose 47% to $60.4 million from $41.1 million last year. For the first 9 months, the company posted net income of $10.5 million, a 36% increase over $7.7 million earned in the same period last year. Revenue for the period grew 43% to $166.5 million from $116.6 million last year. The company’s assets were $2.3 billion at the end of September, a 28% hike over $1.8 billion in assets a year earlier. Total deposits at the savings and loan rose 13% to $1 billion at the end of the period from $883.7 million a year earlier, while the loan portfolio grew 33% to $2 billion from $1.5 billion last year.


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