savings and loan association

(redirected from Thrift institutions)
Also found in: Dictionary, Thesaurus, Legal, Encyclopedia.
Related to Thrift institutions: Savings institutions

Savings and loan association

National- or state-chartered institution that accepts savings deposits and invests the bulk of the funds thus received in mortgages.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

savings and loan association (S&L)

A deposit-gathering financial institution that is primarily engaged in making loans on real estate. Although many S&Ls are owned by their depositors, some are organized as profit-making institutions with stock that is publicly traded. See also thrift.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

savings and loan association

A financial institution that specializes in consumer deposits and residential mortgages.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Thrift institutions face a unique uncertainty resulting from the SBJPA provisigns allowing such institutions to elect S status.
The council is an advisory group made up of twelve representatives from thrift institutions. The panel was established by the Board in 1980 and includes members from savings and loans, savings banks, and credit unions.
(6.) Market share data are based on Summary of Deposits reports filed as of June 30, 2003, updated to include transactions through September 10, 2004, and are based on calculations in which the deposits of thrift institutions are included at 50 percent.
Thrift institutions. In 1992, the thrift industry faced sharply differing prospects.
(12.) Deposit and market share data are based on annual branch reports filed as of June 30, 2003, and on calculations in which the deposits of thrift institutions are included at 50 percent.
Thrift institutions. Most financial indicators for the 2,039 privately owned thrifts and the 81 still owned by the OTS improved in the third quarter.
An analysis of first-quarter call report data for the nation's 2,129 thrift institutions conducted by Veribanc, Inc., the bank rating company, found the industry registered a profit of $1.1 billion, the first time the industry as a whole has been profitable since the first quarter of 1987.
This study examines patterns in the 3,517 mergers consummated among commercial banks and thrift institutions (savings banks, savings and loan associations, and industrial banks) during the ten years from 1994 to 2003.
According to Veribanc's analysis of third-quarter 1991 data released by the Office of Thrift Supervision on the nation's 2,261 savings and loan institutions, the dispostion of failed and failing thrift institutions may be two-thirds complete.
A review of first quarter data from the nation's 2,513 thrift institutions disclosed that thrifts incurred lower losses in the first three months of 1991 than in any quarter in the past four years, says Veribanc, the bank-rating company.
Interagency Policy on Banks' and Thrift Institutions Providing Financial Support to Funds Advised by the Banking Organization or its Affiliates.
The FDIC has filed 16 lawsuits against eight CPA firms for nearly $1.4 billion in damages in connection with their work on failed thrift institutions. Given these circumstances, it's an understatement to say audits of banks and savings institutions are high-risk engagements.