The savings and loan association industry underwent a massive, historic contraction and structural overhaul following the severe savings and loan crisis of the 1980s and 1990s, which resulted in the insolvency of hundreds of institutions and necessitated a massive federal bailout via the Resolution Trust Corporation. In the decades following, surviving thrifts largely converted from mutual ownership structures into publicly traded stock corporations, while others were aggressively absorbed by traditional commercial banks through interstate deregulation, effectively blurring the lines between traditional thrifts and standard commercial banking institutions.