Losses of RTC-Controlled Thrifts Jump 21%
WASHINGTON -- Losses at the 193 thrifts under government control rose to $1.638 billion in the second quarter, the Resolution Trust Corp. reported Friday.
The loss, 21% more than the $1.35 billion recorded for the same 193 companies a year earlier, was also 6% above the $1.547 billion deficit of this year's first quarter.
Most of the 1991 loss -- $910 million -- came from asset writedowns. Operating losses of $728 million made up the balance.
Healthy Thrifts' Earnings
The Office of Thrift Supervision earlier reported that the 2,216 thrifts operating in private hands earned $387 million in the second quarter.
Losses of the RTC-controlled thrifts brought the second-quarter deficit for the industry as a whole to $1.251 billion, about the same as in the first quarter.
Other key results:
* Assets of the RTC-controlled thrifts totaled $88.9 billion; liabilities totaled $96.6 billion.
* The volume of delinquent one- to four-family mortgages on their books climbed to $1.044 billion in the quarter that ended June 30, up 8.4% from $963.3 million at March 31.
* Other delinquent mortgages -- including commercial and apartment loans -- rose 6.3%, to $5.303 billion, from $4.990 billion in the first quarter.
* But the value of repossessed realty in these thrifts' portfolios dropped 4.5%, to $10.884 billion, from $11.402 billion in the first quarter.
* Together, the 193 thrifts had a tangible-capital deficit of $15.6 billion.
