First Alliance Corp.

The Irvine company, which specializes in making loans to borrowers with poor credit records, posted a 60% decline in net income for the third quarter on lower revenue. Net income totaled $1.5 million, or 8 cents a share, down from $3.8 million, or 21 cents a share, for the same period last year. Revenue dropped nearly 18% to $18.6 million.