Magazine article American Banker

Many New Thrifts Open as New Bank Openings Lag

Magazine article American Banker

Many New Thrifts Open as New Bank Openings Lag

Article excerpt

Despite the problems that have wracked some sectors of the thrift industry, many investors are clearly undaunted. The number of new thrifts is growing at a faster clip than last year, while the rise in new banks is slowing.

These findings come from an American Banker survey of institutions established in the first half of 1985. It revealed that the number of new state thrifts that opened for business in the first half of this year was the same as in 1984 despite a moratorium on deposit insurance applications for state-chartered thrift institutions in Florida, California, and Texas.

Meanwhile, the number of new commercial bank openings declined to 149 in the first half of this year, from 183 the year before.

The survey revealed that 34 new state-chartered thrifts opened up in the first six months of 1985, the same as in the year-earlier period. In addition, 13 new federally chartered thrifts opened in 1985, compared with only four a year earlier.

In the three states affected by the moratorium, only California had fewer state thrift openings this year -- 12, compared with 19 in last year's first half. Seven new state-chartered thrifts opened in Texas this year, up from two in 1984, and five such institutions opened in Florida, up from three in 1984.

Most of the new federally chartered thrift openings this year have been in the Bank Board's southeast district, where nine new federal institutions opened, six of them in Florida.

The pace of new commercial bank openings has been slowing, paced by a turndown in Texas, home of nearly half the new federally chartered commercial banks in recent years. …

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