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Thrifts record lower losses in early 1991.

A review of first quarter data from the nation's 2,513 thrift institutions disclosed that thrifts incurred lower losses in the first three months of 1991 than in any quarter in the past four years, says Veribanc, the bank-rating company.

In the first quarter of 1991, the thrift industry lost $673 million, well below the average quarterly loss of $3 billion over the past four years. The 457 technically insolvent thrifts (197 under Resolution Trust Corporation control) lost $1.43 billion in the first quarter of 1991. Losses had averaged $4 billion per quarter since 1987. Even more encouraging, the 457 technically insolvent thrifts represent 18.2% of the industry, the smallest portion in the last five years. Before early 1990, technically insolvent thrifts represented 30% of all thrifts.
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Publication:Journal of Accountancy
Date:Sep 1, 1991
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