First Alliance Corp.: The Irvine company, which...

First Alliance Corp.: The Irvine company, which originates, purchases, sells and services nonconventional mortgages, reported net income of $7.9 million, or 53 cents a share, a 43% gain from $5.5 million, or 37 cents a share, for the second quarter of 1996. Revenue was up 36% to $23.2 million from $17 million. For the six months, net income increased 54% to $15.6 million, or $1.05 a share, from $10.1 million, or 69 cents a share, for the corresponding period in 1996. Revenue rose 41% to $44.7 million from $31.8 million. The company completed its initial public offering during the third quarter of 1996.