First Alliance Corp.: The Irvine consumer finance...

First Alliance Corp.: The Irvine consumer finance company reported net income of $32.1 million, or $2.59 a share, for 1996, compared with $30.5 million, or $2.87 a share, for 1995. Pro forma net income, adjusted for full corporate taxation and new common shares issued in the company’s initial public offering in the third quarter, increased 23% to $22.6 million, or $1.53 per share, from $18.3 million, or $1.24 per share in 1995. Revenue was up 20% to $70.9 million from $58.9 million. Fourth-quarter net income declined 64% to $6.6 million, or 44 cents a share, from $18.3 million, or $1.72 a share. The pro forma figure for the 1995 fourth quarter was $11 million, or 74 cents a share. Revenue was down 24% to $20.1 million from $26.5 million.