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U.S. Thrifts’ Fourth-Quarter Losses Narrow

Feb 26, 2009 | Reprints | Unlock Link | Print

U.S. thrifts narrowed losses to $3 billion in the fourth quarter from $4.4 billion the previous quarter and $8.8 billion a year before, the Office of Thrift Supervision said Thursday.

The OTS said the industry set aside $8.8 billion in loan loss reserves in the last quarter, making it a record $38.7 billion for the year.

At the end of the fourth quarter, 97.2 percent of the industry exceeded well-capitalized standards, and 26 thrifts were categorized as "problem" institutions, up from 23 at the end of the third quarter, the OTS said. (Reuters)

Banking & Lending