Lyons Federal Trust & Savings Bank posted a $2.2 million loss in the last three months of 1986, making it the only thrift among Chicago area`s top five that failed to report higher earnings in the period.
The figures were released Monday by the Federal Home Loan Bank of Chicago. Lyons earned $3.4 million in the fourth quarter of 1985.
Earlier this month, in connection with an announcement about a planned private stock offering, Lyons said it earned $1.2 million for the fiscal first half ended Feb. 27, down from $5.2 million first six months of 1985, and lost $32.1 million in the fiscal year ended Aug. 31.
Lyons, which has been plagued by problems with its commercial loans, said at the time that its liabilities exceeded its assets by $18 million at the end of February.
Many of the city`s other top thrifts showed sharply higher profits in the fourth quarter. As previously reported, Talman Home Federal Savings and Loan Association, Chicago`s biggest thrift, earned $4.5 million, up from $115,000 a year earlier.
Citicorp Savings of Illinois posted profits of $12.9 million, up from $2.1 million in the 1985 quarter. Citicorp`s net worth (the difference between assets and liabilities) jumped 157 percent to $1.69 billion after the injection of assets, mostly in the form of loans, from an affiliate, a St. Louis-based mortgage banking subsidiary of Citicorp of New York.
A Citicorp of Illinois official said the new loans would mature quickly and enable the thrift to fund new mortgages in the area. Because of its net operating loss carryforwards, income on the transferred loans is sheltered for the Illinois unit, he said.
Profits of St. Paul Federal Bank for Savings rose 27 percent to $5.6 million from $4.4 million. Cragin Federal Savings and Loan Association posted profits of $8.2 million, including $1.9 million in securities gains. Cragin`s fourth-quarter earnings were up from $2.4 million a year earlier.
For all Illinois thrifts, profits dropped 10.8 percent in the fourth quarter from a year ago to $72 million from $80.7 million, the home loan bank said earlier this month at its annual meeting. For the year, however, the institutions posted an increase in net income of nearly 60 percent in 1986 to $459.4 million.
The Federal Home Loan Bank Board has said that federally insured thrifts lost a total of $900 million in the fourth quarter, up from a loss of $100 million a year earlier. The $3.2 billion loss by the 26 percent of all thrifts that are unprofitable more than offset the $2.3 billion gain by the remaining savings and loans.
