FDIC-Insured Institutions Report Net Income of $60.7 Billion in First Quarter 2019
May 30, 2019
On Thursday, May 30, 2019, the FDIC issued a press release reporting that Commercial banks and savings institutions insured by the FDIC reported aggregate net income of $60.7 billion in first quarter of 2019, up $4.9 billion (8.7 percent) from a year earlier. The increase in net income was mainly attributable to a $7.9 billion (6 percent) increase in net interest income. Financial results for first quarter of 2019 are included in the FDIC's latest Quarterly Banking Profile released this week.
Highlights from the First Quarter 2019 Quarterly Banking Profile:
- Net Income Rises 8.7 Percent from a Year Earlier
- Net Interest Margin Rises to 3.42 Percent
- Community Banks' Net Income Increases 10.1 Percent from a Year Earlier
- Total Loan and Lease Balances Increase 4.1 Percent from First Quarter 2018
- Number of "Problem Banks" Drops to 59
