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FDIC-Insured Institutions Earn $43.7 Billion in Fourth Quarter 2016

February 28, 2017 / Source: FDIC

Press Releases
February 28, 2017

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Julianne Fisher Breitbeil 
(202) 898-6895

FDIC-Insured Institutions Earn $43.7 Billion in Fourth Quarter 2016
Community Bank Net Income Rises to $5.3 Billion

•    Quarterly Industry Net Income is 7.7 Percent Higher Than a Year Earlier
•    Full-Year 2016 Industry Earnings Rise to $171.3 Billion
•    Community Bank Revenue and Loan Growth Outpace Industry
•    Total Loan Balances Rise 5.3 Percent During 2016

“The banking industry had another largely positive quarter. Nevertheless, the industry continues to face challenges.” 
—FDIC Chairman Martin J. Gruenberg

Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $43.7 billion in the fourth quarter of 2016, up $3.1 billion (7.7 percent) from a year earlier. The increase in earnings was mainly attributable to an $8.4 billion (7.6 percent) increase in net interest income. Financial results for the fourth quarter of 2016 are included in the FDIC's latest Quarterly Banking Profile released today.
Of the 5,913 insured institutions reporting fourth quarter financial results, 59 percent reported year-over-year growth in quarterly earnings. The proportion of banks that were unprofitable in the fourth quarter fell to 8.1 percent from 9.6 percent a year earlier.

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