Long Beach Financial Sets a Record

Orange-based mortgage lender Long Beach Financial Corp. said net income for the third quarter reached a record $8.3 million, or 34 cents a share, 5% higher than the $7.9 million, or 30 cents a share, reported for the 1997 third quarter. Loan production also reached $674 million for the three months, the highest ever. Total assets increased 83% to $454.4 million from $248.1 million.