BANKING/FINANCE
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Top-Rated Thrifts: A national rating firm has named three Orange County savings and loans as the top performing thrifts in California last year, according to a ranking based on a key index of profitability.
The three, ranked in order, are Sterling Savings & Loan in Irvine, Fullerton Savings & Loan in Fullerton and Butterfield Savings & Loan in Santa Ana. Butterfield, which was a separately operated subsidiary of Downey Savings & Loan in Newport Beach, was folded into the parent firm at the end of the year.
Sheshunoff Information Services Inc. in Austin, Tex., said the three county thrifts posted returns on average assets last year of 3.35%, 2.05% and 1.97%, respectively. Return on assets--basically earnings divided by assets--is a major barometer of an institution’s annual performance.
Only 11 other thrifts in the state posted returns of more than 1%, which is considered to be a good return for a thrift.
--Compiled by James S. Granelli / Times staff writer
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