Industry Earnings
Printer-friendly Version
FDIC Reports Banking Industry Essentially Broke Even in 4th Quarter of 2009
IBAT’s goal is to provide a diversity of opinions and viewpoints about national banking news. Some news articles do not necessarily reflect the opinion of the Independent Bankers Association of Texas.
Banker's Digest Current Feature - March 8, 2010 Issue
Source: Federal Deposit Insurance Corporation
Commercial banks and savings institutions insured by the FDIC reported an aggregate profit of $914 million in the fourth quarter of 2009, a $38.7 billion improvement from the $37.8 billion net loss the industry sustained in the fourth quarter of 2008. More than one-half (50.3%) of all institutions reported year-over-year improvements in their quarterly net income. Almost one-third (32.7%) of all institutions reported net losses for the quarter, compared to 34.6% a year earlier. For the full-year of 2009, banks reported net income totaling $12.5 billion, up from $4.5 billion reported for 2008... read more.