Downey Savings & Loan in Newport Beach...

Downey Savings & Loan in Newport Beach posted consolidated net income of $5.2 million for the third quarter, a 7% drop from $5.6 million in earnings in last year’s third quarter. Quarterly revenue rose 17%, to $77.3 million from $66.2 million last year. For the first 9 months, Downey’s net income was $16.1 million, a 45% drop from $29.4 million earned in the same period last year. Total revenue for the period rose 11%, to $219.6 million from $198.2 million last year. With last month’s acquisition of Butterfield Savings & Loan, which had $633 million in assets, Downey’s assets grew 40%, to $4.2 billion at the end of September from $3 billion a year earlier. Total consolidated deposits rose 42%, to $3.4 billion at the end of the period from $2.4 billion a year earlier, while total consolidated loans increased 30%, to $3 billion from $2.3 billion last year.