Sandler O'Neill + Partners, a full-service investment banking firm, evaluated nearly 450 publicly traded banks and thrifts
based on growth, profitability, asset quality and capital.
Note: The thrift
and Colonial Life and Colonial Mortgage Insurance Co.
At the end of the third quarter of 2008, the OTS supervised 818 thrifts
with assets of $1.
Following the acquisitions, the insolvent thrifts
ceased to exist as separate entities and their historic businesses were conducted by the taxpayer as branches.
Consumers can also rely upon the guarantees provided by the Federal Deposit Insurance Corporation (FDIC), which oversees the insurance funds that back deposits in banks and thrifts
, and the National Credit Union Share Insurance Fund (NCUSIF), which protects credit union depositors.
The failure rate for thrifts
(savings and loan associations and some savings banks) in the second half of the 1980s and early 1990s was substantially higher than in earlier decades.
Germain had dramatically increased the powers of the thrifts
and dramatically reduced the powers of the federal watchdogs, but the states still had their own regulations.
Rubin, secretary of the Treasury and chairman of the Thrift
Depositor Protection Oversight Board, told the Senate Committee on Banking, Housing and Urban Affairs that the Resolution Trust Corporation (RTC), created by Congress to sell the assets and pay off depositors of failed thrifts
, could close entirely in December 1995, one year earlier than initially anticipated.
It certainly will affect the future of banks and thrifts
in cities and towns across the nation.
The merger has also set off speculation about the future of many other smaller thrifts
in the Northeast, since Parsons and Anchor's CEO, James M.
Bide" time for legislative and regulatory efforts to affect an economic recovery by facilitating the avoidance of violations of capital requirements by troubled thrifts
which would result in regulatory supervision and/or dissolution ("forbearance");