Business Services Industry
Fortune turns for once-thriving thrifts; Rate hikes, competition take toll on largest institutions.(News)
Crain's New York Business, February, 2005 by Fredrickson, Tom
Byline: tom fredrickson After three years of double-digit earnings growth, New York's largest thrifts have hit a wall. Even worse, there is growing evidence that it may take years for earnings growth to recover to recent highs. Last year, profit growth for the five largest institutions plummeted to a median of 2%, after adjustments for extraordinary items, from an average median of 35% in the previous three years, according to the research arm of Keefe Bruyette & Woods.
Only one of the five, Astoria Financial Corp., managed to buck the trend. Astoria improved significantly after a steep earnings decline in 2003. For the others-Dime Community Bancshares Inc., Flushing Financial Corp., Independence Community Bank Corp. and New York Community Bancorp-the...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Design a commission plan that drives sales - Sales Commissions
