banks are a big source of funding support for small businesses, real estate development and consumer finance, with a loan portfolio equivalent to about 71 percent of industry assets.
CTB is composed of 47 thrift
banks nationwide with more than 2,400 branches including the so-called 'branch-lites' or microbanking offices that bring financial access points even to underserved or unbanked populations.
When a thrift
downgrades to a trust bank, it is barred from offering commercial loans, maintaining or accepting demand deposits or deposits that the depositor may withdraw by check for payment to third parties.
Patrick McKeon, the manager of Angel Street Thrift
Shop in Chelsea, Manhattan, also reported no unusual changes in rates of product movement.
Assuming Benefit is granted a state bank charter and considering IberiaBank FSB of Little Rock's announced plan to merge into its Louisiana-chartered sister IberiaBank, the number of thrifts
chartered in Arkansas is about to dwindle to four: First Federal Bank of Harrison, United Bank of Springdale, Priority Bank of Ozark and Corning Savings & Loan Association.
"Business has almost doubled in the last year or so because of the economy," said Barbara Bryant, chairwoman of the Grafton Thrift
Shop, which is run by the Evangelical Congregational Church.
Although the People's B&L was not the first minority-owned B&L in America (that honor goes to an association formed in 1865 in Kinston, North Carolina), its formation came during the first major involvement of blacks in the thrift
Also in November 2008, Lincoln announced that it applied with the Office of Thrift
Supervision to become a savings and loan holding company concurrent with reaching an agreement to acquire Newton County Loan & Savings FSB, a federally regulated savings bank.
The Consumer Product Safety Commission (CPSC) clarified that under the new safety law, "sellers of used children's products, such as thrift
stores and consignment stores, are not required to certify that those products meet the new lead limits, phthalates standard or new toy standard."
The OTS Third Quarter 2008 Thrift
Industry Report said that thrift
institutions set aside $7.9 billion in loan-loss provisions, prompted by a continuing downturn in the housing market that drove a further increase in troubled assets--mainly single family mortgages.
To help remedy the thrift
industry's problems and restore the public's flagging confidence, Congress passed the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA, P.L.
In this study we focus on the case of bank and thrift
acquisitions of thrifts
in the 1990s, a period of dramatic transition in regulatory regimes.