Thrifts solvent in 1991 third quarter.
Veribanc, a bank rating company, calculates that the discounted net worth of the entire S&L industry, including institutions under Resolution Trust Company (RTC) control, exceeded $5 billion, the first positive assessment since 1988. As RTC disposition continues and the mortgage refinancing boom picks up steam, Veribanc expects positive S&L earnings in 1992.
Nevertheless, Veribanc expects another 300 to 350 S&ls to close their doors in the next several years, with the total number of thrifts stabilizing near 1,900. Industry assets could decline to $750 billion to $800 billion, compared with assets of $980 billion at the end of 1991's third quarter.
|Printer friendly Cite/link Email Feedback|
|Publication:||Journal of Accountancy|
|Article Type:||Brief Article|
|Date:||Mar 1, 1992|
|Previous Article:||GRITs, GRANTs and GRUNTs.|
|Next Article:||Most workers would trade pension benefits for added health care.|
|Thrifts record lower losses in early 1991.|
|Overview: holding on for future growth.|
|S & L finances improve as industry shrinks.|
|S & L bailout nears completion as industry finances improve.|