Printer Friendly

VERIBANC FINDS S&L OUTLOOK BRIGHT -- EXCEPT FOR $28 BILLION CLOUD

 WAKEFIELD, Mass., July 1 /PRNewswire/ -- On June 28, 1993, the Office of Thrift Supervision released first quarter call report data for each of the nation's 1,899 savings associations, including 85 failed thrifts which continued to be operated by the Resolution Trust Corporation (RTC). VERIBANC's analysis of this new data indicates the health of the savings and loan industry continues to improve despite the unwillingness of Congress to authorize necessary funding to complete the S&L bailout. The review of industry health detailed in the analysis highlights thrift institutions experiencing financial difficulties.
 The full study details continued shrinkage of the thrift industry over the past year, reductions of the number of thrifts in various problem categories, accumulating losses at RTC-held failed thrifts and the dangers to depositors at those thrifts with accounts totaling $28.7 billion. State-by-state figures indicate the greatest concentration of deposits at failed thrifts occurs in California ($11.7 billion) with New Jersey a distant second ($3.8 billion). Other state-by-state comparisons between thrifts and banks indicate that, while the savings industry has largely recovered, thrift health indicators do not reach quite the degree of robustness enjoyed by banks.
 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.
 /NOTE TO EDITORS: A four-page summary of the study and more detailed information are available upon request./
 -0- 7/1/93
 /CONTACT: Warren G. Heller, research director of VERIBANC, 617-245-1226/


CO: VERIBANC ST: Massachusetts IN: FIN SU:

DJ-DD -- NE002 -- 7517 07/01/93 08:03 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 1, 1993
Words:329
Previous Article:ROCKY MOUNTAINEER RAILTOURS DISPELS RUMOR OF SOLD OUT TRAIN TRAVEL IN WESTERN CANADA
Next Article:OLD DRUG SHOWS NEW PROMISE IN AIDS TREATMENT
Topics:


Related Articles
Veribanc study finds FDIC insolvent.
No change at the top.
No improvement in bank real estate loan problems.
Thrifts solvent in 1991 third quarter.
VERIBANC SEES S&LS FADE CONTINUING DESPITE INDUSTRY'S IMPROVING HEALTH
Thrifts improved despite problems at failed institutions.
S & L bailout nears completion as industry finances improve.
1994 thrift industry profits, asset returns ease.
Credit unions show steady growth.
Century Bank Receives Top Rating for Safety and Soundness.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters