$10.6-Million Third-Quarter Net Reported by Downey Financial : Downey Financial 3rd-Quarter Net Tops $10 Million

Downey Financial Corp., the parent company of Downey Savings & Loan Assn., reported third quarter net income of $10.6 million, or 39 cents a share, contrasted with a loss of $6.5 million, or 24 cents a share, for the 1996 third quarter. The company attributed the loss a year ago to a one-time assessment of $14 million for the Savings Assn. Insurance Fund.

For the first nine months of 1997, net income rose to $31.2 million, or $1.16 a share, from $12 million, or 45 cents a share. Total assets increased 18% to $5.9 million from $5 million.