Thrift industry posts record earnings

From: Bank News | Date: April 1, 2003| Author: | Copyright information

Back-to-back record-setting earnings years have been posted by the thrift industry, the Office of Thrift Supervision has reported.

"Last year was the best year in thrift industry history," OTS Director James E. Gilleran said, "with earnings reaching $11.8 billion in 2002, following record earnings of $10.2 billion in 2001."

Fourth-quarter 2002 earnings of $3 billion were the second best reported after the $3.1 billion record sent in the 2002 first quarter.

Annual profitability, as measured by the return on assets, broke a 56-- year record of 1.2% set in 1946 as it reached 1.21% in 2002. ...

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