Newspaper article THE JOURNAL RECORD

Annualized Return on Assets at Three-Year High

Newspaper article THE JOURNAL RECORD

Annualized Return on Assets at Three-Year High

Article excerpt

A three-year high in annualized return on average assets to a negative 0.9 percent in the fourth quarter of 1988 was reported Thursday for the 38 savings and loans in Oklahoma.

That measure of profitability, which compares net income to assets, was an improvement from a negative 9.59 percent in the fourth quarter of 1987 and a negative 1.52 percent in the third quarter of 1988, the Federal Home Loan Bank of Topeka reported.

It was the best return on average assets since a negative 0.76 percent return was recorded in the first quarter of 1985.

In District 10, which includes Oklahoma, Colorado, Kansas and Nebraska, banks averaged a negative 1.56 percent return on average assets for the quarter, an improvement from a negative 2.8 percent the previous year but down from a negative 0.67 in the third quarter.

Oklahoma thrifts ranked third of the four states in the district, behind Nebraska with a negative 0.25 percent and Kansas at a negative -0.87 percent. Colorado savings and loans recorded a negative 4.36 percent return on average assets for the quarter.

U.S. banks recorded a negative 0.73 percent return on average assets for the quarter, up from a negative 1.3 percent the previous year but down from a negative 0.58 percent in the third quarter of 1988.

About 55 percent of the 38 savings and loans in Oklahoma reported losses for the fourth quarter of 1988, compared to 49 percent of those in the district, 46 percent in Colorado, 47 percent in Kansas and 46 percent in Nebraska.

Thrifts in Oklahoma reported a net loss of $24.7 million for the quarter, which included a $4.6 million net operating loss, $20.9 million net non-operating loss and $780,000 paid in taxes. …

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