BANKING/FINANCE

Income Figures Revised: Orange County’s 38 independent banks posted a combined net income of nearly $55.3 million last year, according to revised figures from Findley Reports on California Banks.

The reason for the change--about $2 million less than first reported--was that full-year statistics for two county banks were not available.

Far Western Bank in Tustin, which had a $3.9-million profit for the first nine months, lost more than $2 million in the final quarter, ending the year with $1.8 million in net income. Its percentage of bad loans to total loans also grew to 8.3% from the third-quarter figure of 4%. Bankers try to keep that ratio below 1%. Far Western had $232.2 million in assets at the end of December.

Grand National Bank in Santa Ana, which posted $207,000 in profit for the first nine months, added $94,000 for the last quarter to give it annual earnings of $301,000. Its bad loan ratio, a key indicator of future problems, fell to 0.4% at the end of the year from 0.8% at the end of the third quarter. It had $29.1 million in assets at the end of December.