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FDIC-Insured Institutions Earn $48.3 Billion in Second Quarter 2017

August 22, 2017 / Source: FDIC

Press Releases

FOR IMMEDIATE RELEASE
August 22, 2017

Media contact:
Julianne Fisher Breitbeil 
(202) 898-6895
jbreitbeil@fdic.gov

FDIC-Insured Institutions Earn $48.3 Billion in Second Quarter 2017
Community Bank Net Income Rises to $5.7 Billion

  • Quarterly Net Income Is 10.7 Percent Higher Than a Year Earlier
  • Community Bank Net Income Rises 8.5 Percent From a Year Ago
  • Average Return On Assets of 1.14 Percent Is Highest In 10 Years
  • Total Loans and Leases Increase 3.7 Percent From Year Earlier

“This was another positive quarter for the banking industry. Revenue and net income growth were both strong, profitability reached a post-crisis high, and net interest margins improved. While the quarterly results were largely positive, the operating environment for banks remains challenging.”
-- FDIC Chairman Martin J. Gruenberg 

Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $48.3 billion in the second quarter of 2017, up $4.7 billion (10.7 percent) from a year earlier. The increase in earnings was mainly attributable to a $10.3 billion (9.1 percent) increase in net interest income and a $654 million (1 percent) increase in noninterest income. Financial results for the second quarter of 2017 are included in the FDIC’s latest Quarterly Banking Profile released today.

Of the 5,787 insured institutions reporting second quarter financial results, 63.4 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 4.6 percent a year earlier. 


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