WASHINGTON -- Timothy Ryan director of the Office of Thrift Supervision, said the savings and loan industry will ride to record profits this year, in parallel with commercial banks.

In a speech to the American Institute of Certified Public Accountants, Mr. Ryan said thrifts, like banks, are benefiting from the wide spreads between deposit and loan rates.

S&Ls posted a $1.6 billion net profit in the first quarter. Second quarter results, to be released this week, "look pretty good," he said.

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