Liberty National Bank in Huntington Beach reported record 1987 net income of $900,115, more than triple the previous year's net income of $273,654. Revenue of $11.5 million was slightly below $11.6 million in 1986. Fourth-quarter net income was $278,805, contrasted with a loss of $218,255 in the final quarter of 1986. Revenue rose to $3.1 million from $2.9 million. Philip S. Inglee, president, played down the big jump in annual net income, citing charge-offs in 1986. The bank's assets fell 8.5%, to $102.7 million at the end of December from $112.3 million a year earlier. Total deposits declined to $88.9 million at the end of the year, from $104.9 million a year earlier, and total loans dipped slightly to $68.8 million from $69.3 million. Inglee said higher-than-normal deposits on the last day of 1986 artificially inflated total deposits and assets that year by more than $12 million.