A flat yield curve has created one of the worst environments for the savings and loan industry since the early 1980s, according to a thrift equity analyst.

"The yield curve is really more of a yield line," Caren Mayer told people attending the NationsBanc Montgomery Securities Inc. investment banking conference here this week. Thrifts generally depend on the differential between short-term and long-term rates to earn a profit.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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