Agency says US thrifts post second-quarter net income of $1.49 billion
By APWednesday, August 25, 2010
Thrifts earn $1.49 billion in Q2
WASHINGTON — U.S. thrifts posted a second-quarter profit in the latest sign the industry is stabilizing amid the economic recovery.
The federal Office of Thrift Supervision said Wednesday that savings and loans had total net income of $1.49 billion in the April-June period. That compared with a net loss of $94 million a year earlier.
It was the thrift industry’s fourth profitable quarter in a row. The Treasury Department agency, which oversees about 750 institutions but will be abolished in the near future, said the number of “problem” thrifts edged up to 54 as of June 30 from 50 three months earlier.
YOUR VIEW POINT
