Fee income helped Western thrifts meet earnings expectations in the third quarter despite a difficult interest rate environment.

"The defensive strategy is developing alternative sources of income, so if the music stops on interest rates you don't get caught," said Charlotte A. Chamberlain of Jefferies & Co., Los Angeles.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.