Mercury Savings & Loan in Huntington Beach posted net income of $5.1 million for 1987, a 45.7% drop from $9.4 million for the previous year. Revenue fell 10.9%, to $228.6 million from $256.5 million in the previous year. Mercury's fourth-quarter net income, however, nearly quadrupled, to $333,000 from $84,000 in the final quarter of 1986. Fourth-quarter revenue fell 19%, to $61 million from $75.3 million for that period in the previous year. Mercury's total assets remained stable at $2.4 billion at the end of each year. Mercury Chairman Leonard Shane described 1987 as a transitional year for the institution. The S&L changed the makeup of its loan portfolio; rather than having the bulk of its loan portfolio in fixed-rate loans, Mercury now has it in adjustable-rate mortgages. Shane also said Mercury began emphasizing increased productivity and cutting high administrative expenses.