WASHINGTON - Thrifts earned a record $2.23 billion in the first quarter, up 13% from the fourth quarter, the Office of Thrift Supervision reported Wednesday.

The previous high mark set by OTS-regulated institutions was $2.08 billion in the third quarter of 1998. Though regulators were pleased with the strong first-quarter performance, they noted that a $160 million one-time tax benefit at a large unidentified thrift contributed to the record.

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