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S&L; Institutions Boost Profits 12.4%

Fri., June 9, 1995

The nation’s 1,512 savings and loan institutions boosted their profits by 12.4 percent in the first three months of 1995, extending their recovery of the last five years.

The Office of Thrift Supervision reported Thursday the industry earned $1.18 billion during the first quarter, up from $1.05 billion in the final three months of 1994. More than 90 percent of the thrifts were profitable.

But the report said the number of problem institutions rose to 57 during the January-March period, from 53 in the fourth quarter of 1994. It was the first upswing since 1990.

OTS Acting Director Jonathan Fiechter warned that a proposed insurance premium differential could undermine progress.

Thrifts face paying higher premiums than banks to insure their deposits because of earlier problems.



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