Magazine article American Banker

Citicorp's Illinois Thrift Shows Profit after Tripling Its Nonmortgage Loans: Talman Home Federal - Largest S&L in State - Reports Break-Even First Quarter

Magazine article American Banker

Citicorp's Illinois Thrift Shows Profit after Tripling Its Nonmortgage Loans: Talman Home Federal - Largest S&L in State - Reports Break-Even First Quarter

Article excerpt

CHICAGO -- Citicorp Savings of Illinois more than tripled its nonmortgage loans during the first quarter of 1985 when the thrift earned $220,000, records show.

Citicorp Savings reported total nonmortgage loans of $300.5 million at the end of the first quarter, up from $87 million at the end of the fourth quarter last year. The $213.5 million increase in nonmortgage loans from the end of 1984 to the end of March accounts for nearly all of the $243 million increase in assets for Citicorp Savings during the same time. At the end of March, Citicorp Savings had assets of $4.4 billion.

The largest increase in nonmortgage loans was in the consumer loans of $294.9 million, more than a threefold increase from the $84.7 million in consumer loans at the end of last year.

Meanwhile, Talman Home Federal Savings and Loan Association, the largest thrift in the state, with assets of $6.7 billion, reported a break-even 1985 first quarter. During the fourth quarter last year, Talman had net income of $35 million. For all of 1984, Talman had a profit of $495,000.

The figures for Citicorp Savings and Talman Home are included in the quarterly reports that the thrifts filed with the Federal Home Loan Bank Board. Second-quarter results won't be available until at least September.

Citicorp Savings' regulatory net worth at the end of this year's first quarater was $488.6 million, none of which was income capital certificates. …

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