Westcorp Inc., the holding company for Western...

Westcorp Inc., the holding company for Western Financial Savings Bank in Orange, posted record net income of $13.6 million last year, a 40% increase over $9.7 million the previous year. Revenue rose 44% to $232.5 million from $161.8 million the previous year. For the fourth quarter, the company reported net income of $3.2 million, a 60% increase over $2 million in earnings for the last quarter of 1987. The company’s assets grew 39% to $2.5 billion at the end of December from $1.8 billion a year earlier. Total deposits rose 36% to $1.2 billion at the end of the year from $883.7 million a year earlier. Total loans increased 40% to $2.1 billion last year from $1.5 billion the previous year.