Downey Savings & Loan in Newport Beach...

Downey Savings & Loan in Newport Beach posted consolidated net income of $21 million for the first quarter, more than triple the $6.2 million earned in last year’s first quarter. Revenue rose 36% to $97.3 million this year, from $71.6 million last. Downey, which also owns Butterfield Savings & Loan in Santa Ana, had total assets of $4.2 billion at the end of March, a 35% increase over $3.1 billion in assets a year earlier. Total deposits grew 31% to $3.4 billion at the end of the quarter from $2.6 billion a year earlier, while total loans rose 30% to $3 billion from $2.3 billion. The increases in assets, deposits and loans come mainly from the purchase of Butterfield in September. Directors also approved a cash dividend of 10 cents a share payable May 25 to shareholders of record May 11.