Sunwest Bank in Tustin reported record net...

Sunwest Bank in Tustin reported record net income of $553,000 for the third quarter, a 50% increase over $368,000 earned in the same quarter last year. Quarterly revenue rose 32% to $6.2 million from $4.7 million last year. For the first 9 months, the bank earned $1 million, a 36% increase over $736,000 earned in the same period last year. Revenue for the period grew 28% to $16.8 million from $13.1 million last year. The bank’s assets were $222.1 million at the end of September, a 29% increase over $172.5 million in assets a year earlier. Total deposits rose 31% to $200.7 million at the end of the period from $153 million a year earlier, while loans increased 25% to $175.3 million from $140.1 million a year earlier. Sunwest is a subsidiary of Centennial Beneficial Corp., a multibank holding company in Orange.