S&L; Loss Is Best Showing Since 1989
WASHINGTON — Private savings and loans posted a loss of $196 million in the second quarter of the year in the best showing since a weak profit of $10 million in the first quarter of 1989, the government said today.
The figures, released by the Office of Thrift Supervision, do not include the results for institutions seized by the United States and operated by the federal Resolution Trust Corp.
“It’s very difficult to predict that the trend of reduced losses in the industry will continue or that the industry as a whole will become profitable this year,” said Timothy Ryan, the OTS director.
The second-quarter loss of $196 million follows a loss of $374 million in the first quarter and a record $3.41-billion plunge in the final three months of 1989, the OTS reported.
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