The government reports that U.S. thrifts posted a profit over the summer but the number of "problem" thrifts remains elevated.
The federal Office of Thrift Supervision says U.S. savings and loans had total net income of $1.77 billion in the July-September period. That was up 4.3 percent from $1.24 billion in the third quarter of 2009.
It was the thrift industry's fifth profitable quarter in a row. Still, the agency said, the number of "problem" thrifts remained high at 53, compared with 54 three months earlier. That's a result of continued pressures from soured loans, high unemployment and weakness in the housing and commercial real estate markets.
© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.