Downey Savings and Loan Assn.: The Newport...

Downey Savings and Loan Assn.: The Newport Beach-based savings and loan reported that its second-quarter net income rose 78%, to $10.3 million from $5.8 million in the year-earlier period. Revenue dropped 4%, to $98.2 million from $102.1 million. For the first six months of 1990, net income declined 13% to $23.4 million. Revenue dipped to $199.2 million from $199.4 million. At the end of June, total assets stood at $4 billion, down 5% from the $4.2 billion reported for the same time last year.