Net Income Up at Downey Financial

Downey Financial Corp., whose primary subsidiary is Downey Savings and Loan Assn., reported net income for the second quarter of $8.3 million, or 31 cents a share, up 5% from the $7.9 million, or 30 cents a share, for the second quarter of last year. First-half net income increased 12% to $20.6 million, or 77 cents a share, from $18.4 million, or 69 cents a share. Total assets rose 26% to $5.9 billion from $4.7 billion.