FDIC-insured banks had a good first quarter and community banks led the way, accordingto new data from the regulator.
Two-thirds of the nation's 6,419 FDIC-insured financialinstitutions reported year-over-year earnings growth in the firstquarter of 2015, and the percentage of unprofitable banks fell to5.6% for the quarter, the FDIC reported.
Aggregate net income for commercial banks and savingsinstitutions with FDIC insurance rose 6.9% to $39.8 billion in thefirst quarter of 2015, according to the report. The increase waslargely due to a $4.3 billion rise in net operating revenue for thequarter. The number of problem banks has fallen 72% from the888-bank peak in the first quarter of 2011, the FDIC noted.
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