FDIC-Insured Institutions Report Net Income of $25.5 Billion in Fourth Quarter 2017

Federal Deposit Insurance Corporation press release -------- Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $25.5 billion in the fourth quarter of 2017, down $17.7 billion (40.9 percent) from a year ago. The decline in net income is primarily due to one-time income tax effects from the new tax law, including the revaluation of deferred tax assets and repatriation of income from foreign subsidiaries. Financial results for the fourth quarter of 2017 are included in the FDIC’s latest Quarterly Banking Profile released today. To learn more click on the picture below to read the release.