Thrift industry earnings slipped to $1.4 billion in the fourth quarter, off 36% from the third quarter and 18% from the last quarter of 1997, the Office of Thrift Supervision reported Tuesday.

The agency said one-time restructuring charges related to mergers and acquisitions hurt fourth-quarter profits.

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.