$58,000 for the quarter ended Sept. 30, 1995, compared with net income of $409,000 for the same period in 1994. The company attributed the decline in net income to the declining average balance of the company's mortgage residual interests. The company reported net income for the nine months ended Sept. 30, 1995, of $856,000 compared to a net loss of $1,360,000 for the like period in 1994. The results for the nine months ended Sept. 30, 1994, included a charge of $1,244,000 to write down the company's mortgage residual interests.

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