Mercury Savings Reports 3rd-Quarter Income Gain

Mercury Savings & Loan Assn. reported third quarter net income of $2.4 million, up 4% from net income of $2.3 million in the same period last year.

The Huntington Beach-based S&L; said that net income for the first nine months totaled $9.3 million, up 55% from $6 million.

The company said it continues to expect record earnings for the year, although it declined to specify how much above last year’s net income of $11.7 million this year’s earnings would be. For the fourth quarter of 1985, the company reported net income of $5 million.

Buoyed by strong housing sales and lower cost of money, the savings and loan industry has turned in a strong performance so far this year.