First Mortgage Corp. announced substantial increases in revenues and earnings for the company's third fiscal quarter and nine months ended Dec. 31, 1995.

First Mortgage reported that third-quarter total revenues increased by about 70% from the level a year earlier, to $4.6 million. Net income for the quarter was $583,000, or 10 cents per share, compared with a net loss of $256,000, or 4 cents a share, a year earlier.

Stronger loan production volume and a significantly higher gain on sale of mortgage loans accounted for a major portion of the quarterly rise in net income, the company said.

Clement Ziroli, chairman, said a growing pipeline of approved loans waiting to be closed led him to expect "robust performance in the coming fiscal year."

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