First Fidelity Thrift & Loan: The Irvine...

First Fidelity Thrift & Loan: The Irvine industrial bank--a cross between a bank and a finance company--reported net income of $893,000 for the second quarter, a nearly 10-fold increase over earnings of $94,000 in last year’s second quarter. Total income rose 22% to $6 million for the quarter from $4.9 million last year.

For the first six months, Fidelity earned $1.6 million, compared with $116,000 for the same period last year. Total income for the period grew 20% to $11.6 million from $9.7 million last year. Fidelity’s assets at the end of June stood at $291.2 million, a 29% increase over $226.3 million in assets a year earlier.