FarWest Financial Corp., the holding company for...

FarWest Financial Corp., the holding company for FarWest Savings & Loan in Newport Beach, posted net income of $8.6 million last year, a 91% increase over $4.5 million earned the previous year. Annual revenue rose 24% to $455 million last year from $367.4 million the previous year. For the fourth quarter, the company reported net income of $2.2 million, contrasted with a $16.1-million fourth-quarter loss the previous year. Quarterly revenue grew 37% to $127.2 million from $92.2 million in the final quarter of 1987. The company’s total assets increased 30% to $4.8 billion at the end of December from $3.7 billion a year earlier. Total deposits grew 18% to $3.3 billion at the end of the year from $2.8 billion a year earlier, while total loans rose 8% to $2.8 billion from $2.6 billion.