Profitability For Ots-Regulated Private-Sector Thrift Institutions Guide - Office Of Thrift Supervision - U.s. Department Of Treasury - 1998 Page 3

STATEMENT OF OPERATIONS FOR OTS-REGULATED PRIVATE-SECTOR THRIFT INSTITUTIONS

___________________________________________________________________________________________________________________________________________________________________________

| FOR THE QUARTER ENDING:

DEC 1995

MAR 1996

JUN 1996

SEP 1996

DEC 1996

MAR 1997

JUN 1997

SEP 1997

DEC 1997

| NUMBER OF THRIFT INSTITUTIONS:

1,437

1,416

1,397

1,378

1,334

1,301

1,272

1,238

1,215

|___________________________________________________________________________________________________________________________________________________________________________|

| PROFITABILITY ($ Millions)

| Interest Income

$13,935.75

$13,706.74

$13,732.07

$13,882.05

$13,843.65

$13,715.41

$13,732.28

$13,779.55

$14,069.21

| Interest Expense

8,738.60

8,362.76

8,224.43

8,403.43

8,384.50

8,156.93

8,297.88

8,414.65

8,610.61

NET INTEREST INCOME

5,197.15

5,343.98

5,507.63

5,478.62

5,459.15

5,558.48

5,434.39

5,364.90

5,458.60

| Loss Provisions-Interest Bearing Assets

515.15

447.02

447.89

514.09

704.88

477.15

494.08

486.75

504.83

| Noninterest Income

1,311.23

1,843.84

1,687.32

1,612.74

1,768.68

1,673.66

1,701.58

1,531.46

2,138.82

Mortgage Loan Servicing Fees

177.61

200.41

223.34

234.35

230.15

223.71

217.59

208.98

226.00

Other Fees and Charges

561.45

595.95

692.75

720.24

750.98

801.62

818.25

911.90

972.16

Other Noninterest Income

572.17

1,047.47

771.23

658.15

787.56

648.33

665.73

410.58

940.66

| Noninterest Expense

4,098.51

4,020.95

4,175.07

7,267.20

4,394.82

4,054.55

4,023.64

4,287.72

4,406.01

G&A Expense

3,849.51

3,836.30

3,981.95

7,113.66

4,205.91

3,888.30

3,830.83

4,112.15

4,208.06

Goodwill Amortization

186.26

128.62

152.29

125.51

130.75

124.07

131.37

136.38

147.84

Loss Provisions-Noninterest Bearing Assets

62.74

56.03

40.83

28.04

58.17

42.18

61.44

39.19

50.10

| Income Before Taxes & Extraordinary Items

1,894.72

2,719.85

2,571.99

(689.93)

2,128.13

2,700.44

2,618.25

2,121.90

2,686.58

| Income Taxes

550.99

897.27

642.59

(456.35)

660.48

974.75

931.35

777.24

986.96

| Extraordinary Items

(81.03)

4.80

(2.31)

(249.36)

0.61

(0.21)

(0.32)

(2.72)

(1.50) |

NET INCOME

1,262.69

1,827.38

1,927.08

(482.94)

1,468.25

1,725.48

1,686.59

1,341.94

1,698.13

|___________________________________________________________________________________________________________________________________________________________________________|

| PROFITABILITY (% of Average Assets Annualized)

| Interest Income

7.28%

7.21%

7.19%

7.21%

7.23%

7.22%

7.24%

7.30%

7.34% |

| Interest Expense

4.56

4.40

4.30

4.36

4.38

4.29

4.38

4.46

4.49

NET INTEREST INCOME

2.71

2.81

2.88

2.84

2.85

2.93

2.87

2.84

2.85

| Loss Provisions-Interest Bearing Assets

0.27

0.24

0.23

0.27

0.37

0.25

0.26

| Noninterest Income

0.68

0.97

0.88

0.84

0.92

0.88

0.90

0.81

1.12

Mortgage Loan Servicing Fees

0.09

0.11

0.12

0.11

0.12

Other Fees and Charges

0.29

0.31

0.36

0.37

0.39

0.42

0.43

0.48

0.51

Other Noninterest Income

0.30

0.55

0.40

0.34

0.41

0.34

0.35

0.22

0.49

| Noninterest Expense

2.14

2.12

2.18

3.77

2.29

2.13

2.12

2.27

2.30

G&A Expense

2.01

2.02

2.08

3.69

2.20

2.05

2.02

2.18

2.19

Goodwill Amortization

0.10

0.07

0.08

0.07

0.08

Loss Provisions-Noninterest Bearing Assets

0.03

0.02

0.01

0.03

0.02

0.03

0.02

0.03

| Income Before Taxes & Extraordinary Items

0.99

1.43

1.35

-0.36

1.11

1.42

1.38

1.12

1.40

| Income Taxes

0.29

0.47

0.34

-0.24

0.34

0.51

0.49

0.41

0.51

| Extraordinary Items

-0.04

0.00

-0.13

0.00

NET INCOME

0.66

0.96

1.01

-0.25

0.77

0.91

0.89

0.71

0.89

|___________________________________________________________________________________________________________________________________________________________________________|

| PROFITABILITY (Percent)

Return on Average Assets (Annualized)

0.66

0.96

1.01

-0.25

0.77

0.91

0.89

0.71

0.89

Median Ratio

0.73

0.76

0.80

-0.52

0.83

0.87

0.89

0.87

0.79

Return on Average Equity (Annualized)

8.31

11.96

12.52

-3.16

9.75

11.47

11.09

8.73

10.74

Median Ratio

7.28

7.61

7.98

-5.10

8.48

8.87

8.74

8.63

7.70

Net Interest Margin (Annualized)

2.71

2.81

2.88

2.84

2.85

2.93

2.87

2.84

2.85

Median Ratio

3.10

3.11

3.19

3.21

3.22

3.25

3.22

3.18

Number of Profitable Thrifts

1,304

1,326

1,325

303

1,235

1,234

1,216

1,169

1,111

Percent Profitable

90.74

93.64

94.85

21.99

92.58

94.85

95.60

94.43

91.44

Profits ($ Millions)

$1,537.07

$1,889.35

$2,005.63

$369.93

$1,650.07

$1,775.15

$1,760.49

$1,656.50

$1,811.03

Number of Unprofitable Thrifts

133

1,075

104

Percent Unprofitable

9.26

6.36

5.15

78.01

7.42

5.15

4.40

5.57

8.56

Losses ($ Millions)

($274.38)

($61.98)

($78.55)

($852.87)

($181.82)

($49.67)

($73.90)

($314.56)

($112.91) |

|___________________________________________________________________________________________________________________________________________________________________________|

One thrift did not report financial data and one thrift was not required to report for March 1997.

Net income for the third quarter 1996 was significantly reduced by a one-time special assessment fee levied to fully capitalize the SAIF.

See Technical Notes for details.

All data exclude self-liquidating thrifts.

See Technical Notes for details.

All data prior to June 1996 are unconsolidated, except where noted.

Numbers may not sum due to rounding.

Office of Thrift Supervision / March 1998

T-3