FDIC-Insured Institutions Earn $47.9 Billion in Third Quarter 2017 Community Bank Net Income Rises t
Federal Deposit Insurance Corporation press release -------- Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $47.9 billion in the third quarter of 2017, up $2.4 billion (5.2 percent) from a year earlier. The increase in earnings was mainly attributable to an $8.8 billion (7.4 percent) increase in net interest income. Financial results for the third quarter of 2017 are included in the FDIC’s latest Quarterly Banking Profile released today.Of the 5,737 insured institutions reporting third quarter financial results, 67.3 percent reported year-over-year growth in quarterly earnings. The proportion of banks that were unprofitable in the third quarter fell to 3.9 percent from 4.6 percent a year earlier. The results do not include one insured community bank that was delayed in reporting third quarter results. The omission does not have a material impact on the overall or community bank results. To get more in depth information click on the picture below to read the release.