USAA emerges stronger than ever in aftermath of local S&L disaster. (USAA Federal Savings Bank, savings and loan associations) (Special Report: Financial Institutions) (company profile)

USAA emerges stronger than ever in aftermath of local S&L disaster

In the diseased industry of San Antonio savings and loans, one institution remains healthy and profitable: USAA Federal Savings Bank.

While the ranks of the local thrift industry weakened from 16 to nine institutions so far this year, and five of those remaining are under the control of the federal government, USAA FSB strengthened its hold on the local market.

Indeed, USAA FSB has emerged an anomaly in a city plagued by S&L disaster.

In San Antonio alone, combined assets of S&Ls still operating on June 30, 1990, were down 41 percent to $5.2 billion, from $8.96 billion at June 30, 1989, according to Sheshunoff Information Services Inc.

By the same measure, losses by local S&Ls have declined by 42 percent over the period, from $760.86 million for the first six months of 1989, to $439.56 million after the first half of …