First Interstate Bancorp reports net income of $144 million or $3.10 per share for the fourth quarter of 1988 and $129.4 million,$2.63 per share for the year.

Income for the quarter before an extraordinary credit of $27 million totaled $117 million ($2.50 per share), which included a $25.8 million after-tax impact of interest recognized on Brazilian non-performing loans.J.J. Pinola, chairman and chief executive of the bank holding company, said core earnings for the quarter of $91.2 million compare favorably with the performance achieved in the first and second quarters of the year.

Deposits were $44.1 billion at year's end versus $37.6 billion at Dec. 31, l987. Loans totaled $37.8 billion at Dec. 31 compared with $32.7 billion on the like date last year. Assets were $58.2 billion at Dec. 31, 1988, and $50.9 billion the year before.