Today's News

Thrift industry earnings soared to $2.1 billion in the first quarter despite a marked slowdown in mortgage lending, the OTS reported. Page 2

NATIONAL/GLOBAL

KeyCorp's hopes of remaining independent may be in the hands of a former consultant who worked 30 years at the Cleveland office of McKinsey & Co. Page 3

INVESTMENT PRODUCTS

Amsouth's planned purchase of First American would nearly double its assets under management. Page 8

Charles Schwab said it has an agreement with a consortium of four Japanese companies to establish a brokerage operation in Tokyo. Page 8

Mutual fund sales are recovering their momentum after a shaky first quarter as investors show renewed interest in value-oriented funds. Page 9

MORTGAGES

The Web is a hot topic for mortgage lenders, but their on-line efforts so far have been disappointing, according to a report. Page 10

DIGITAL FRONTIERS

ON-LINE BANKING: Integrion Financial Network said it would have a bill presentment service in operation by the end of the year. Page 11

City National of Charleston, W.Va., is bolstering its Net services through a multimillion-dollar telecommunications agreement with Bell Atlantic. Page 11

CARDS

With suspense building toward a possible Triple Crown of thoroughbred racing on Saturday, Visa U.S.A. said it has extended its exclusive sponsorship rights to the competition. Page 12

TECHNOLOGY

Equifax Secure has bolstered its Internet security services offering through an agreement with Sun-Netscape Alliance. Page 14

MARKETS

Peoples Heritage of Maine's agreement to buy Banknorth of Vermont highlights the consolidation push among regional banks in the Northeast. Back page

As part of a wave of job hopping by regional bank analysts, two from ABN Amro have joined Stephens, the Little Rock investment banking firm. Back page