Utah-based savings and loans continued to cut their losses as the industry finished 1988 with a net loss of $74.9 million, according to Sheshunoff Information Services Inc. in Austin, Texas. Last year's loss compared to -$89.2 million in 1987 and a decade high -$117 million in 1986. Out of 13 locally-based savings institutions, First Federal Savings (Logan), Crossland Savings, Deseret Federal Savings, First Federal Savings (Salt Lake City), Home Savings, Williamsburg Savings and MountainWest Savings suffered losses in 1988. Three Utah savings and loans, American Savings, Deseret Federal and MountainWest, are insolvent and under regulatory management. Deposits at all Utah savings and loans are insured by the Federal Savings and Loan Insurance Corp.