FDIC-insured savings institutions (S&Ls) reported net income of $4.56 billion for 2003:IIIQ. This was $590 million (14.9%) higher than a year earlier but $152 million lower than the second quarter. As in previous quarters, net income was buttressed by onetime gains on the sale of securities— to the tune of $1.13 billion.
Suggested citation: "Savings Institutions," Federal Reserve Bank of Cleveland, Economic Trends, no. 04-02, pp. 16-17, 02.01.2004.