savings and loan


Also found in: Dictionary, Thesaurus, Financial, Acronyms, Encyclopedia.

savings and loan

n. a banking and lending institution, chartered either by a state or the Federal government. Savings and loans only make loans secured by real property from deposits, upon which they pay interest slightly higher than that paid by most banks. In the early 1980s savings and loans were "de-regulated," allowing them to make loans for speculative land development, removing high reserve funds requirements, and in allowing savings and loans' funds to participate in competition with banks. The result was use of many savings and loans for speculative and dishonest investments, lack of controls, and tremendous losses to thousands of depositors. However, a properly-managed, conservative savings and loan which concentrates on real estate loans guaranteed by the FHA (Federal Housing Administration) and/or sold in the secondary mortgage market can be safe, profitable, and provide a valuable channel for savings into the home finance market.

References in periodicals archive ?
Photo: (1 -- 2 -- 1 -- ran in Conejo edition only) The Hawthorne Savings and Loan Association on Westlake Boulevard in Thousand Oaks was the scene Friday of the fourth Conejo Valley bank robbery in two weeks.
I predict that the savings and loan of the future will be a quasi-mortgage banker, selling its product directly to other lenders or a community bank.
Although previously tolerated as an improper but innocuous part of the real estate game, it is now becoming clear that bogus appraisals were a major cause of the collapse of EPIC, as well as hundreds of savings and loans and banks such as Continental Illinois, the largest failure of all.
We remain confident in our position and look forward to a fair and expeditious final resolution'' of the savings and loan cases, the statement said.
While other giant savings and loans were crashing into ruin, Home and its owner, H.
Carolina Savings Bank has total assets of approximately $142 million and Edenton Savings and Loan has total assets of approximately $40 million.
However, First Federal Savings and Loan Association of Hazard may increase this amount to up to 49% of Kentucky First Federal Bancorp, Inc.
As far as Polifly Savings customers are concerned, they will experience no change in service as the RTC resolves the savings and loan.
We added savings and loan accounts, four branches and a large loan center to our operations, and the Open Solutions conversion team had a definitive answer for all of our concerns, from consolidating redundant systems to reporting to the SEC, other regulatory agencies and the bank's senior management team.
Pete" Dail, President and Chief Executive Officer of Edenton Savings and Loan Association, jointly announced the approval by their respective Boards of Directors of an Agreement and Plan of Reorganization to provide for the acquisition of Edenton Savings and Loan by BB&T.
Founded in Cleveland, Ohio in 1889, Ohio Savings Bank has grown from a local savings and loan to a nationally recognized leader in retail banking, wholesale mortgage lending and construction lending.
NASDAQ/NMS: PRBK), announced today that it has completed the acquisitions of Merit Savings Association, a $106 million mutual savings and loan located in Cincinnati, Peoples Federal Savings and Loan Association of Bellevue, a $64 million mutual savings and loan located in Campbell and Boone Counties, Ky.
Full browser ?