WASHINGTON — Despite credit quality continuing to slip at the nation's thrifts, the Office of Thrift Supervision said they still had a strong year overall.
Although problem asset levels continued to rise, which the agency said was the result of the slowing housing sector and other economic conditions, they remain at relatively low levels. The ratio of troubled assets to total assets increased to 0.80% from 0.70% the prior quarter and from 0.64% one year ago. Thrifts added $1.2 billion to loan loss provisions during the quarter. Of the 838 thrifts regulated by the OTS, there were only six CAMEL 4/5 thrifts, which was unchanged from the previous quarter.
The OTS is continuing to encourage thrifts to work with borrowers to find solutions for loan delinquencies to avoid foreclosures.
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