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Bad Loans Rise Fast at Banks & Thrifts.
Washington -- Banks and thrifts posted $19.3 billion in earnings for the first quarter, down 46% from a year ago, as rising levels of troubled real estate loans forced the depositories to set aside $18.5 billion for expected loan losses, the largest loan-loss reserve increase in 20 years.
Despite the set-aside, the Federal Deposit Insurance Corp. said non-current loans (89 days or more past due) are increasing faster than reserves.
"This is a worrisome trend," FDIC chairman Sheila Bair said. "It's the kind of thing that gives regulators heartburn."
FDIC-insured institutions charged off $19.6 billion in the first quarter, up from $16.4 billion in the previous quarter.
Meanwhile, non-current loans rose by $26 billion in the first quarter to $136 billion and nearly 90% of the increase involved real estate loans, mostly residential mortgages and construction and development loans. Nearly 5% of C&D loans are 89 days or more past due, while 2.5% of first residential mortgages and 1.5% of home-equity lines of credit are non-current. "FDIC examiners will be vigilantly ...
- OTS Warns Banks On Neg-Am Risk.
- Magazine article from: National Mortgage News February 27, 2006 700+ words
...29. Meanwhile, thrifts posted record earnings in the fourth quarter despite a 10...in the fourth quarter of 2005 at OTS...lower loan volume, thrifts posted record earnings...billion in the fourth quarter and for the year...
- OTS Looks Askance at Rising Neg-Am Loan Market.
- News wire article from: Mortgage Line August 10, 2006 700+ words
...29. Meanwhile, thrifts posted record earnings in the fourth quarter despite a 10...in the fourth quarter of 2005 at OTS...lower loan volume, thrifts posted record earnings...billion in the fourth quarter and for the year...
- OTS: Thrifts Post Record Profits Despite Servicing Impairment.
- Magazine article from: National Mortgage News Collins, Brian December 10, 2001 700+ words
...in the third quarter. Nearly 36...in the third quarter of 2000. While...the first three quarters of 2000, thrifts posted mortgage servicing...the first three quarters of 2001, OTS...occurring in the third quarter. The recession...
- Bad Loans Rise Fast at Banks & Thrifts.
- News wire article from: Mortgage Line Collins, Brian August 20, 2008 700+ words
...Banks and thrifts posted $19.3 billion...for the first quarter, down 46% from...from the first quarter of 2007. The...federally chartered thrifts posted a $617 million loss for the first quarter, after setting...
- Missouri Savings: $11.9 loss (Missouri Savings Association) (company profile)
- Magazine article from: St. Louis Business Journal Dwyer, Joe III January 8, 1990 700+ words
...the third quarter, continuing...unprofitable quarters. Wendell...report a fourth quarter loss, too...three area thrifts posted significant...Three area thrifts posted significant profits for the quarter. United Postal...
- S&Ls lose $53 million. (savings and loan associations, St. Louis area)
- Magazine article from: St. Louis Business Journal Dwyer, Joe, III April 9, 1990 700+ words
...fewer institutions contributed to the growth. In the 1989 fourth quarter, 20 of the 32 St. Louis area thrifts posted profits. For the same quarter in 1988, 24 thrifts posted profits. "There has been a concerted effort by most institutions...
- Bad Loans Rise Fast at Banks.
- News wire article from: Mortgage Line Collins, Brian July 7, 2008 700+ words
...Banks and thrifts posted $19.3 billion...for the first quarter, down 46% from...from the first quarter of 2007. The...federally chartered thrifts posted a $617 million loss for the first quarter, after setting...
- OTS Looks Askance at Rising Neg-Am Loan Market.(Office of Thrift Supervision )
- Magazine article from: Mortgage Servicing News April 1, 2006 700+ words
...29. Meanwhile, thrifts posted record earnings in the fourth quarter despite a 10...in the fourth quarter of 2005 at OTS...lower loan volume, thrifts posted record earnings...billion in the fourth quarter and for the year...
- The trouble with bank failures; Regulators are concerned that some banks'...
- Newspaper article from: Sarasota Herald Tribune Hielscher, John May 21, 2000 700+ words
...Savings Association Insurance Fund, which covers deposits at thrifts, posted a $31 million gain. "The loss to the BIF was primarily...eighth consecutive year of improved profits. The nation's thrifts posted earnings of $8.2 billion, their third straight year...
- State banks post $167 million profit in first quarter.
- Newspaper article from: Daily Oklahoman (Oklahoma City, OK) May 27, 2005 700+ words
...post a profit in the first quarter. All seven were smaller...54 percent in the first quarter. Rising short-term interest...FDIC-insured banks and thrifts posted profits of $34.3 billion for the first quarter, topping the previous...
Source: HighBeam Research, Bad Loans Rise Fast at Banks & Thrifts.