Downey Financial Sees Net Income Rise 58%

Downey Financial Corp., the Newport Beach parent company of Downey Savings & Loan, said net income for the third quarter totaled $26.3 million, or 93 cents a share, 58% higher than the $16.6 million reported for the 1999 third quarter. Total assets increased 22% to $10.4 billion at the end of September.