Events could affect thrifts' ratings

September 08, 1991

A number of the thrifts that had low first-quarter ratings, according to IDC, have recorded significant events since the data in the chart was collected. Such events could improve future ratings, the thrifts said last week.

These include:

* Equitable FSB. The thrift sold three branches during the second quarter, reducing its assets by about $20 million.

* Fairview FS&LA. This mutual company is converting to a stock company and signed a letter of intent a month ago to sell 100 percent of the company to an undisclosed investor. After the purchase, which includes a large capital infusion, the thrift's capital is expected to exceed all regulatory requirements, the company said.

* Home FSB. On June 30, the thrift filed a plan with federal regula

tors to improve its financial condition. The thrift is waiting for approval.

* Irvington FS&LA. In April, the company signed a similar plan for improving its financial condition.

* Second National FSB. This subsidiary of Second National Bancorporation signed a similar plan with federal regulators in March. It also has renegotiated the terms of more than $40 million in preferred stock and subordinated debt.

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