Thrift institution


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Thrift institution

An organization formed as a depository for primarily consumer savings. Savings and loan associations and savings banks are thrift institutions.

Federal Savings and Loan Association

A federally chartered bank that specializes in taking deposits for checking and savings accounts, as well as making home mortgages. Savings and loan associations tend to be smaller than other banks and are more focused on the local communities in which they operate. It is sometimes (but not always) easier to obtain a loan from a savings and loan association because it may have better knowledge of the local market. They derive most of their funds from customer savings accounts, but they also generally have easy access to loans from the Federal Home Mortgage Banks. They are also known as thrifts. They are regulated by the Office of Thrift Supervision.
References in periodicals archive ?
From Thanksgiving through December, the FSLIC closed acquisitions of 35 thrift institutions at a cost it then estimated to be $27.
The enactment of FIRREA and the public's negative perception of the thrift industry have caused regulators to take a much tougher stance with thrift institutions.
Market share data are based on Summary of Deposits reports filed as of June 30, 2003, adjusted for transactions through April 14, 2004, and are based on calculations in which the deposits of thrift institutions are included at 50 percent.
585 applied (or would apply were it not for the restriction on the use of this method by small banks) and thrift institutions to which the special bad debt reserve method of Sec.
The first came in March 1979, when banking regulators for the first time since the Great Depression permitted all of the nation's thrift institutions to write variable rate mortgages.
Five years ago, management plotted an ambitious course to build Epic Bancorp into a thriving, profitable bank that would serve the diverse financial needs of the people of Marin," said Tim O'Brien, who covers West Coast banks and thrift institutions for Sandler O'Neill.
On June 30, 1982, there were 3,573 thrift institutions in operation, translating into a 48.
Blunden has been appointed to the Thrift Institutions Advisory Council (TIAC) for a 2-year term.
According to MBA, in most cases lenders including banks, thrift institutions, and other funding sources, require a minimum level of owner occupancy to underwrite a first underlying mortgage (the financing that encumbers the building) and to finance an individual share loan (the loan on a specific unit).
However, some problems still exist at a number of chronically weak banks and thrift institutions.
the bank-rating company, found continued improvement in the financial condition of commercial banks and thrift institutions.
An analysis of first-quarter call report data for the nation's 2,129 thrift institutions conducted by Veribanc, Inc.