Withdrawals exceeded new deposits in February.

Withdrawals outstripped deposits at federally insured savings and loan institutions by $1.1 billion, but it marked the smallest drain on deposits since October, the Federal Home Loan Bank Board reported. The bank board said the reduced withdrawals, coupled with improvements in loan repayments, resulted in a net improvement in the financial position of the nation’s S&Ls.; Liabilities, including deposits, increased at an annual rate of 1.7%, compared to a 4.3% annualized reduction in January. Total deposits stood at $891.6 billion. The bank board also said federally insured S&Ls; closed $15.9 billion in mortgage loans in February.