Getting your player ready...
WASHINGTON — U.S. thrifts eked out a $4 million profit in the second quarter, but the number of troubled institutions continued to rise.
The Office of Thrift Supervision said the small profit in the April-June period marked the industry’s first positive earnings since the third quarter of 2007. It compared with a loss of $5.4 billion in the year-ago period.
“Problem thrifts” rose to 40. That’s up from 31 in the first quarter and 17 a year earlier.
Thrifts must have at least 65 percent of their lending in mortgages and other consumer loans — making them particularly vulnerable to the housing downturn.
