ORANGE COUNTY EARNINGS

Impac Commercial Holdings Inc.: The specialty commercial property finance company, formerly IMH Commercial Holdings Inc., reported net income for the fourth quarter of $3.1 million, or 38 cents a share. Net income from Jan. 15, 1997, when the company started operating, totaled $2.8 million, or 61 cents a share. The Santa Ana Heights company had its initial public offering in August.