FDIC: Bank profits hit $43 billion in 2Q

September 02, 2015

FDIC: Bank profits hit $43 billion in 2Q

Federally insured banks and savings institutions reported second-quarter profits of $43 billion, up $2.9 billion from the second quarter of 2014, according to the FDIC's latest Quarterly Banking Profile.

The FDIC report, released yesterday, noted improved earnings for 58.7 percent of insured banks from a year ago. The percentage of banks that were unprofitable during the second quarter fell from 6.8 percent a year earlier to 5.6 percent – the lowest since the first quarter of 2005.

Other highlights from the FDIC report include:

the second quarter net operating revenue of $172.9 billion at banks is 2.1 percent higher than a year ago;
community bank earnings rose 12 percent from a year ago; and
loan growth remained steady as total loan and lease balances increased $185 billion (2.2 percent) during the second quarter. At community banks, loan balances rose 2.7 percent during the second quarter and increased 8.8 percent during the past year.

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