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FDIC-Insured Institutions Earn $44 Billion in First Quarter 2017

May 24, 2017 / Source: FDIC


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Press Releases

FOR IMMEDIATE RELEASE
May 24, 2017
Media contact:
Julianne Fisher Breitbeil 
(202) 898-6895
jbreitbeil@fdic.gov

FDIC-Insured Institutions Earn $44 Billion in First Quarter 2017
Community Bank Net Income Rises to $5.6 Billion

  • Quarterly Net Income Is 12.7 Percent Higher than a Year Earlier
  • Community Bank Net Income Rises 10.4 Percent from a Year Ago
  • Annual Loan Growth Rate Slows to 4 Percent, On Par With Nominal GDP Growth
  • “Problem Bank List” Falls to 9-Year Low

“The banking industry reported largely positive results for the first quarter, but the operating environment continues to pose challenges for banks.” -- FDIC Chairman Martin J. Gruenberg 

Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $44 billion in the first quarter of 2017, up $5 billion (12.7 percent) from a year earlier. The increase in earnings was mainly attributable to an $8.8 billion (7.8 percent) increase in net interest income and a $2.1 billion (3.4 percent) increase in noninterest income. Financial results for the first quarter of 2017 are included in the FDIC’s latest Quarterly Banking Profile released today.

Of the 5,856 insured institutions reporting first quarter financial results, 57 percent reported year-over-year growth in quarterly earnings. The proportion of banks that were unprofitable in the first quarter fell to 4.1 percent from 5.1 percent a year earlier.

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