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Thrift industry sets second-quarter records
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In the second quarter of 2003, the thrift industry set records for net income, profitability, equity capital and mortgage originations, according to the Office of Thrift Supervision. "The favorable interest rate environment of the past year has sustained a mortgage refinance boom that has helped the thrift industry to a series of records for earnings, profitability and capital," said OTS Director James E. GiIleran in announcing the results.
The industry earned a record $3.54 billion for the quarter, 6% higher than the previous record of $3.33 billion set in the 2003 first quarter. This was ...
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