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VERIBANC SEES S&LS FADE CONTINUING DESPITE INDUSTRY'S IMPROVING HEALTH

 WAKEFIELD, Mass., Sept. 28 /PRNewswire/ -- Veribanc, Inc. reported its analysis of the Office of Thrift Supervision's Sept. 23 release of financial data for each of the nation's 1,837 savings and loan associations. The data depict a moderately healthy, but shrinking industry. While the condition of thrifts in most areas has continued to improve, California is a key exception. Information for that state indicates continuing recession. However, indicators showing declining amounts of mortgage delinquency and foreclosure holdings at California thrifts offer mild encouragement.
 The analysis also highlights the uneven impact of the S&L crisis on the nation's smallest thrifts. Data for all S&Ls smaller than $10 million in assets illustrates the economic pressure driving small thrifts to merge with larger institutions or fold up their operations. A list of the smallest S&Ls, with data, is included.
 The higher yields traditionally offered by thrifts are recalled. Currently there are a total of 35 healthy thrifts which, as of the end of the second quarter, offered deposit account yields in excess of four percent. These institutions are identified.
 Veribanc is a private bank rating and research firm that specializes in providing plain English information to consumers and business people outside of the banking industry. In addition, the company performs specialized analysis and research for bank and nonbank clients including corporate, institutional, and government agencies, as well as federal and state bank regulators. Ratings for any bank, thrift or credit union in the country are available from Veribanc for as little as $10 for the first institution and $5 for each additional institution. The company also sells more detailed reports.
 -0- 9/28/93
 /NOTE TO EDITORS: A four-page summary of the study and more detailed information are available upon request./
 /CONTACT: Warren G. Heller, research director of Veribanc, 617-245-1226/


CO: Veribanc, Inc. ST: Massachusetts IN: FIN SU:

DJ-JL -- NE004 -- 6259 09/28/93 09:39 EDT
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Publication:PR Newswire
Date:Sep 28, 1993
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