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Most of the state's privately insured savings and loans opened for the first time Saturday after more than a week of state-imposed closure and found business heavier than normal.
The increase pushed the California savings and loan industry's assets to $252 billion as of Dec. 31, according to the California League of Savings Institutions.
Gov. Richard F.
Five of 69 state-chartered savings and loans still under a closure order by the state were open for business Thursday and, although lines formed at some branches, officials reported no shortages of cash.
According to the Federal Home Loan Bank of San Francisco, assets of savings and loans in California, Nevada and Arizona grew at an annualized rate of only 2.6% in the first quarter of 1985.
The nation's savings & loan associations and savings banks held $614 billion of the $1.1 trillion in residential mortgage loans outstanding at all private lenders at the end of 1984, according to the 1985 Savings Institutions Sourcebook.
Nearly one in every five U.
Its funds continuing to dwindle at a sharp rate, the Federal Savings and Loan Insurance Corp. may run out of the money it needs to close or sell off troubled savings and loan firms by early next year, the nation's chief S&L; regulator said in an interview Tuesday.
The nation's federally insured savings and loan institutions issued a record $21.8 billion in mortgages in May, 23.6% higher than the same month a year ago, the government said Friday.
At first glance, last year's rebound in the savings and loan industry seems to have passed by Orange County.
About 40 troubled savings and loans under the direct control of the U.S. government are paying extraordinarily high interest rates to lure new depositors--a practice the banking community and federal regulators have criticized as too risky.