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Orange County Earnings

February 04, 1999

Western Bancorp: The Newport Beach company said it lost $6.5 million, or 31 cents a share, for the fourth quarter as a result of expenses related to the acquisitions of Bank of Los Angeles and PNB Financial Group. That compares with a loss of $985,000, or 7 cents a share, for the 1997 fourth quarter.

Net income for the year totaled $20.2 million, or 98 cents a share, 70% higher than the $11.9 million, or 79 cents a share, reported for 1997. Total assets rose 37% to $2.6 billion from $1.9 billion.

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