FarWest Financial Corp. in Los Angeles, parent...

FarWest Financial Corp. in Los Angeles, parent of FarWest Savings & Loan in Newport Beach, posted net income of $5.6 million for the first quarter, more than double the $2.6 million earned in the first quarter last year. Quarterly revenue rose 32% to $133.5 million this year from $101 million last year. The company’s total assets were $4.5 billion at the end of March, a 13% increase over $4 billion in assets a year earlier. Total deposits grew 3% to $3.1 billion at the end of the quarter from $3 billion a year earlier, while the loan portfolio remained about the same at $2.7 billion at the end of each period.