CalWest Bancorp announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported net interest income of $1,275,000 compared to $843,000 a year ago. Income before taxes was $633,000 compared to loss of $1,018,000 a year ago. Net income was $633,000 or $0.01 per basic and diluted share compared to loss of $1,018,000 or $0.11 per basic and diluted share a year ago. Return on average equity (annualized) was 17.22% compared to negative return on average equity (annualized) of 46.60% a year ago. Return on average assets (annualized) was 1.64% compared to negative return on average assets (annualized) of 3.02% a year ago.

For the year, the company reported net interest income of $4,399,000 compared to $3,640,000 a year ago. Income before taxes was $1,207,000 compared to loss of $722,000 a year ago. Net income was $1,205,000 or $0.02 per basic and diluted share compared to loss of $724,000 or $0.17 per basic and diluted share a year ago. Return on average equity (annualized) was 8.07% compared to negative return on average equity (annualized) of 8.51% a year ago. Return on average assets (annualized) was 0.83% compared to negative return on average assets (annualized) of 0.54% a year ago. Book value per basic share was $0.18 compared to $0.16 a year ago.

For the fourth quarter of 2016, the company reported net charge offs of $89,654,000 against $119,697,000 a year ago.