West One Bancorp, parent company of West One Bank - Utah, reported earnings of $12.1 million or 95 cents per share for the third quarter 1990, a 40 percent increase over the $8.6 million or 68 cents per share earned in the same period last year.

Income for the nine months ended Sept. 30 was $31.3 million, up 24 percent over the $25.2 million reported for the same period a year ago."The continuing favorable economic conditions in our four-state market area have resulted in increased loan and deposit volumes and a higher net interest margin," said Dan Nelson, chairman.

Total assets at quarter's end were $4.5 billion, a 10 percent increase over the $4.1 billion reported a year ago. Loans grew 17 percent to $2.9 billion over the same period. Deposits increased 10 percent to $3.5 billion. Shareholders' equity was $301 million, an 11 percent increase.