Press Release Tools E-mail This Press Release Printer-Friendly Format

The record first quarter earnings reported by savings institutions regulated by the Office of Thrift Supervision demonstrate the continued strength and vitality of the thrift industry.

An important indicator of thrifts’ commitment to their local communities is the reported 1 percent increase in market share of mortgage originations. This is even more significant during a period of rising interest rates and demonstrates the flexibility of community-based institutions in shifting to adjustable rate mortgages to provide an affordable housing option for borrowers.

It is also encouraging that thrifts were able to maintain interest spreads in a rising interest rate environment by diversifying their product mix on both the deposit and lending sides.

While consolidation in the thrift industry continues, although at a declining rate, the aggregate assets of OTS-regulated institutions actually increased by 2.4 percent.