Pacific & Western Credit Corp. reported record net earnings of $11.8 million or $0.88 per share ($0.85 diluted) for the third quarter, ended July 31, compared to $1.7 million or $0.12 per share ($0.12 diluted) for the same period a year earlier.

Net earnings for the nine months ended July 31 totalled $15.5 million, or $1.15 per share ($1.11 diluted), compared to $5.3 million or $0.38 per share ($0.37 diluted) in the same period in 2005.

Other income totalled $13 million compared to $4.3 million a year earlier. Return on average common shareholders’ equity was 79% compared to 14%; lending assets increased to $820 million from $690 million; and regulatory capital in the bank subsidiary grew to over $100 million from $82 million a year ago.